Westgrund Aktiengesellschaft completed a capital increase in return for cash contributions with shareholders' indirect subscription rights. Gross proceeds from Westgrund AG's issue will be about EUR 16 million, which is to be used to secure property financing and to acquire attractive residential real estate portfolios.
Heuking Kühn Lüer Wojtek comprehensively advised the holding and operative unit of Westgrund Group with a focus of operative business on expansion, management and development of residential real estate portfolios on the subscription rights offer and the completion of the capital increase.
Westgrund AG's shares are traded on the regulated market at the Düsseldorf Stock Exchange. Close Brothers Seydler Bank AG acted as sole lead manager/sole bookrunner for the capital increase.
Counsel to Westgrund Aktiengesellschaft:
Heuking Kühn Lüer Wojtek, Cologne
Dr. Mirko Sickinger, LL.M.
Sven Radke, LL.M.