27.09.2024 | Deal Notifications

KPMG Law advises Munich Airport on the sale of a majority stake in Cargogate Munich Airport GmbH and the creation of a new cargo joint venture.

KPMG Law advised Flughafen München GmbH (FMG) on the sale of 74.9 percent of the shares in its subsidiary Cargogate Munich Airport GmbH (Cargogate) to CHI Aviation Handling GmbH (CHI), a group company of the CHI Cargo Group, and the creation of a cargo joint venture. Cargogate was founded in 1974 and provides cargo services at Munich Airport as a wholly owned subsidiary of FMG on an area of around 17,000 square meters and has the infrastructure to handle all types of special cargo in a suitable form.
CHI will acquire 74.9 percent of the shares in Cargogate to strengthen airfreight at Munich Airport.
FMG will retain the remaining 25.1 percent, thus creating a joint venture with CHI with proven freight expertise and a large customer network.
The aim of the joint venture is the sustainable further development of the cargo business at Munich Airport and a significant increase in its volume.
The jobs of around 150 Cargogate employees have been contractually secured.
The acquisition of the shares, which is expected to take place in January 2025, is subject to regulatory approvals.
KPMG Law provided comprehensive legal advice to FMG on the transaction.
KPMG Law worked closely with the tax advisors of KPMG AG Wirtschaftsprüfungsgesellschaft.
The KPMG Law partner responsible for advising FMG was Dr. Ian Maywald (Corporate/M&A) from the Munich office.
The team consisted of Dr. Robert Müller (Senior Manager, Corporate/M&A), Dr. Jonas Brueckner (Partner, Antitrust & Investment Control) and Kilian Baum (Associate, Corporate/M&A).
For tax matters, Roman Meissner (Partner, Tax) and Martina Füchsl (Senior Manager, Tax) provide support.

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