Heuking Kühn Lüer Wojtek advised WESTGRUND AG on carrying out the voluntary public takeover offer of ADLER Real Estate AG on April 30, 2015. The advice included in particular the creation of the joint reasoned opinions of the Management Board and the Supervisory Board on the takeover offer and the adequacy of the consideration offered. In addition, the team led by Dr. Mirko Sickinger, Partner at the commercial law firm's Cologne office, advised WESTGRUND AG on meeting various stock corporation law and capital market law compliance obligations associated with carrying out the public takeover offer.
In return for the shares of WESTGRUND AG, ADLER Real Estate AG offers shareholders a mixed cash and non-cash consideration in the form of ADLER Real Estate AG shares. The new ADLER shares offered in return will come from a capital increase against non-cash contributions in exclusion of the statutory subscription rights of the ADLER shareholders.
The newly created larger business unit will benefit from future synergies in the operating business and by easier access to financing and associated better terms.
WESTGRUND AG is a publicly traded real estate company, listed on Frankfurt Stock Exchange's SDAX with a market capitalization of some EUR 414 million.
Counsel to WESTGRUND AG
Heuking Kühn Lüer Wojtek:
Dr. Mirko Sickinger, LL.M. (Lead),
Lena Pfeufer (all Capital Market Law), all Cologne