CoBe Capital LLC signed an agreement to acquire Mining Systems operations from Sandvik AB (OM:SAND) on July 18, 2016. Sandvik will maintain ownership of ongoing projects which are close to finalization. In 2015, the Mining Systems operations had annual sales of SEK 5 billion. The closing of the transaction, subject to the satisfaction of certain conditions precedent. is expected during the fourth quarter of 2016. Jörg aus der Fünten of Heuking Kühn Lüer Wojtek and Danny Preiskel of Preiskel & Co, London acted as legal advisors for CoBe Capital. Bank of America Merrill Lynch acted as financial advisor for Sandvik AB. Waselius & Wist acted as legal advisor to Sandvik AB CoBe Capital LLC cancelled the acquisition of Mining Systems operations from Sandvik AB (OM: SAND) on January 19, 2017. The deal was cancelled due to all the conditions for the transaction was not met.