HEUKING advises Elbstein AG on capital increase for investment in shipyard quarter Seebeck Werftquartier
Elbstein AG has acquired a strategic stake in Seebeck Werftquartier through a combined cash and non-cash capital increase and has also successfully completed a full cash capital increase. A team led by Cologne-based HEUKING Partner Dr. Thorsten Kuthe advised the company comprehensively on structuring and implementing the transaction.
In total, 15 million new shares were issued. Of these, 13,987,718 shares were allocated to the shareholders of Seebeck Werftquartier GmbH by way of a contribution in kind. In return, they contributed their shares in the project developer to Elbstein AG. As a result, Elbstein has acquired an 89.9 percent interest in the company driving the Bremerhaven urban development project “Seebeck Werftquartier.”
In addition, just over one million shares were successfully placed for cash as part of a subscription offer. Shareholders were entitled to subscribe to new shares at a ratio of 2:1 at an issue price of EUR 1.85 per share. With the subscription period running from July 15 to July 28, 2025, all 1,012,282 shares were fully subscribed.
By way of this transaction, Elbstein AG has secured a strategic interest in the Seebeck Werftquartier project in Bremerhaven, which is expected to be developed over the coming years.
Counsel to Elbstein AG
HEUKING:
Dr. Thorsten Kuthe (Lead),
Miriam Schäfer,
Tatiana Vorotnitskaya, k.i.n. (Belarusian State University),
Stefan Westerheide, LL.M. oec. (all Corporate / Capital Markets), all Cologne,
Hansa Partner Hamburg, Dr. Gottfried Fröhlich (Tax)
