Lenovo in Squeeze-Out of MEDION AG Minority Shareholders

Cleary Gottlieb represented long-standing client Lenovo Group Limited in the squeeze-out of the minority shareholders of Frankfurt-listed MEDION AG.

On November 12, 2024, the annual general meeting of MEDION AG approved the squeeze-out, which is expected to be consummated in January 2025. The minority shareholders will receive an appropriate cash compensation of €14.28 per share.

Lenovo Group Limited, through its German subsidiary Lenovo Germany Holding, became the majority shareholder of MEDION AG by way of a public takeover in 2011 and has since increased its shareholding in the company, reaching the threshold of 95% of shares required to squeeze-out the remaining minority shareholders.

The Lenovo group was founded in 1984. It is a leading global PC company and a manufacturer and provider of information technology products and services. Lenovo Group Limited has been listed on the on the stock exchange of Hong Kong since 1994.

MEDION AG was founded in 1983 and became a listed entity in 1998. MEDION AG is a leading German provider of PCs and notebooks and also offers digital services in the areas of electronic software distribution, music platforms, and other online services. MEDION group comprises subsidiaries in Europe, the U.S., and APAC.