M&A: large deals (€500m+) in Germany

Freshfields Bruckhaus Deringer

Freshfields Bruckhaus Deringer's transactional practice assists listed companies and large corporations with public takeovers and large deals, while the team has particular sector expertise in the finance, energy, transport and infrastructure areas. In addition, the group advises on capital markets matters and at the interface of compliance. Practice co-heads Rick Van Aerssen and Christoph Seibt as well as Andreas Fabritius are the key contacts.

Practice head(s):

Rick van Aerssen; Christoph Seibt

Other key lawyers:

Andreas Fabritius

Hengeler Mueller

Hengeler Mueller's M&A practice demonstrates particularly deep industry expertise in the energy and health sectors, but has an equally excellent reputation for its advice in the insurance and financial industry. The group has especially wide-ranging experience in public M&A matters and large-cap transactions often include cross-border aspects. Matthias Hentzen has ‘unique M&A expertise‘ and Hans-Jörg Ziegenhain has a good reputation for advising listed as well as family-led companies and PE investors. Maximilian Schiessl in Düsseldorf predominantly advises on public takeovers and cross-border deals.

Testimonials

If one instructs Hengeler Mueller, one expects top quality and also receives it.

Top partner with wide-ranging experience, personality and negotiation skills paired with a vital dose of pragmatism.

Key clients

Vodafone Group PLC

Linde AG

Erwin Hymer Group SE

Magna International, Inc.

Takeaway.com N.V.

Bayer AG

VTG AG

Novacap und Syntax

Groupe PSA

Generali Deutschland AG

Dexia

Cerberus Capital Management, L.P.

Ericsson AB

Copenhagen Infrastructure Partners (CIP)

KKR (Kohlberg Kravis Roberts & Co. Ltd.)

GfK SE

OptiGroup AB

Broadview Holding B.V.

Genpact Limited

Work highlights

  • Advice to Vodafone Group PLC on the purchase of Unitymedia and further financial assets from Liberty Global.
  • Advised the Linde AG on the sale of the predominant part of the gas business in North America as well as single business activities by Linde and Praxair in South America to the Messer Group and CVC.
  • Advice to Takeaway.com N.V. on the purchase of the German business for food deliveries from Delivery Hero.

Linklaters

Linklaters advises numerous German as well as international large corporations, including a range of DAX 30 companies, on large deals and public takeovers; the practice is considered particularly well-versed in matters in the regulated industries, especially in the banking and energy sectors. Expertise also exists in capital markets and banking-related matters. Ralph Wollburg is renowned for assisting with public takeovers and Kristina Klaaßen-Kaiser advises on public takeovers as well as joint ventures among other matters. Tim Johannsen-Roth  in Düsseldorf heads the practice.

Practice head(s):

Tim Johannsen-Roth

Other key lawyers:

Ralph Wollburg; Staffan Illert; Kristina Klaaßen-Kaiser

Testimonials

Very professional, highly precise, fast and reliably working transaction apparatus. Better than others in transborder matters, interaction of the different offices works. Outstanding merger control practice, which provides honest advice, even when facing over-optimistic internal assessments.

Key clients

thyssenkrupp AG

Volkswagen AG

Linde Group

Commerzbank

LetterOne Group

E.ON

LG Electronics Inc. (LG)

KME SE

Fresenius SE & Co. KGaA / Fresenius Medical Care AG & Co. KGaA

Continental

Thyssen’sche Handelsgesellschaft mbH

HSH Finanzfonds und damit mittelbar die Freie und Hansestadt Hamburg sowie das Land Schleswig-Holstein

Brambles Limited

J.P. Morgan

ADAC Versicherung

Clifford Chance

Clifford Chance's M&A practice assists with large-scale transactions, often with cross-border aspects, in the automotive, energy, technology and infrastructure industries as well as in the financial and health sectors. Additional expertise exists in transaction-related compliance. Thomas Voland is the key contact for regulated industry matters and Christof Goldschmidt is considered a 'gifted negotiator'. Michael Dietrich joined from Herbert Smith Freehills GmbH and advises on antitrust-related matters. Thomas Krecek and Anselm Raddatz jointly head the team.

Practice head(s):

Thomas Krecek; Anselm Raddatz

Other key lawyers:

Thomas Voland; Cristof Goldschmidt; Michael Dietrich

Testimonials

Precision, expertise, experience and passion are what the corporate and M&A team stand out for.

Key clients

Bouygues Construction

Bremer Kreditbank /Oldenburgische Landesbank

COMPAREX AG

Deutsche Post DHL Group

Grohe AG

L’Oréal

MediaMarktSaturn

Merck KGaA

Pfizer

Siemens AG

Software AG

Symrise AG

Trinseo Europe

Volkswagen AG

Work highlights

  • Advice to the global IT service provider COMPAREX AG on the sale of 100% of its shares to the worldwide operating provider of software and cloud portfolio management SoftwareONE.
  • Advice to the Deutsche Post DHL Group on the transfer of its supply chain business for Mainland China, Honkong and Macau to the S.F. Holding.
  • Advice to J.P. Morgan in the course of the financing of the planned takeover of the US-American brake manufacturer WABCO Inc. by the ZF Friedrichshafen AG.

Gleiss Lutz

Gleiss Lutz advises internationally leading corporations in cross-border transactions, public takeovers, joint ventures as well as on market entry and exit strategies. Instructions stem from technology-oriented companies and energy corporations among others. Christian Cascante in Stuttgart and Frankfurt and Ralf Morshäuser in Munich jointly head the team. The M&A practice was additionally strengthened by the arrival of Andreas Löhdefink from Shearman & Sterling LLP.

Practice head(s):

Christian Cascante; Ralf Morshäuser

Other key lawyers:

Andreas Löhdefink

Latham & Watkins LLP

Latham & Watkins LLP's Burc Hesse heads the M&A practice, which assists with complex cross-border transactions as well as with takeover attempt defence and also advises on how to deal with activist shareholders. The client base includes various DAX companies. 'Skilled negotiator' and managing partner of the German offices Harald Selzner as well as the co-chair of the firm's global merger & acquistition practice Rainer Traugott are other key figures of the team.

Practice head(s):

Burc Hesse

Other key lawyers:

Harald Selzner; Rainer Traugott

Testimonials

Solution-oriented, fast in implementing, very strong negotiators.

High standard across various international offices and very well-coordinated cooperation.

Key clients

Aliaxis

Barkawi

Charité and Stiftung Deutsches Herzzentrum

Callaway Golf Company

Ceconomy

CMP

Commerzbank

Congatec AG

DuMont Business Information GmbH

GHX Europe GmbH

Hellman & Friedman

Henkel

Inapa Group

Omnicom Group Inc

Playtika

SERgroup

Siemens

SoftwareOne

STP Holding

VTG

Work highlights

  • Advised the Commerzbank as financial advisor of the Chinese stakeholder Ningbo Jifeng on their public takeover bid for the German Grammer AG.
  • Advised the consortium consisting of Hellman & Friedman LLC and Blackstone Group L.P. on the public takeover bid for the Scout24 AG.
  • Advice to the Siemens AG on the planned merger of the Siemens Mobility Business with Alstom.

Noerr

Noerr is frequently instructed by companies in the regulated industries, automotive and media sectors to advise on large-scale transactions, while the firm's international offices as well as its international network facilitate seamless cross-border advice. Notably, the team was recently increasingly involved in matters in the health sector. Florian Becker and Alexander Hirsch jointly head the practice.

Practice head(s):

Florian Becker; Alexander Hirsch

Testimonials

Corporate team in Berlin with deep expertise in advising major start-ups and young corporates. Very good understanding of the venture scene, good local corporate expertise. All aspects of corporate law can be covered in collaboration with other Noerr offices. 

Very pleasant, personal interaction. Willing to listen and react to clients. The team always has an idea or a solution for the current issue at hand.

Felix Blobel is an excellent corporate lawyer, very service-oriented and pragmatic.

Christoph Spiering is a good, assertive negotiator.

Armin Bartsch is very organised and always attentive.

Olav Wagner has very good sector expertise, is very attentive and basically always available, practice- and goal-oriented.

Cleary Gottlieb Steen & Hamilton

With a focus on cross-border transactions, Cleary Gottlieb Steen & Hamilton's M&A practice frequently acts for large international corporations and financial institutions on large deals, while the team's US expertise is particularly notable. The group also covers related private equity matters. Michael Ulmer is the key contact. Oliver Schröder joined SZA Schilling, Zutt & Anschütz Rechtsanwalte AG in January 2020.

Other key lawyers:

Oliver Schröder; Michael J. Ulmer

Key clients

American Express

Citi

Falabella

General Motors

Hanon Systems

International Flavors and Fragrances (IFF)

Latour Capital & Bpifrance

Lavazza

Westlake Chemical

Work highlights

  • Advice to 3M on the sale of its share in a German joint venture corporation.
  • Advice to the American Express Gruppe on the sale of the emnos Gruppe via the American Express subsidiary companies Loyalty Partner GmbH and Payback GmbH to the Robur Gruppe.
  • Advisor to the Chester Property Holding Limited in the course of the purchase of properties in Germany.

Hogan Lovells International LLP

The global network as well as the international set up of the team make Hogan Lovells International LLP a good choice for large-scale cross-border deals. The group boasts sector expertise in the insurance, telecoms and automotive industries as well as in the life sciences arena. Lutz Angerer heads the German team, while Volker Geyrhalter leads the European continental practice.

Practice head(s):

Lutz Angerer

Other key lawyers:

Volker Geyrhalter

Jones Day

Jones Day assists a broad client base, including corporations in the technology, renewable energy, automotive and health sectors, with large-scale transactions. Matters are predominantly cross-border and often US-related. The group has further expertise in the Chinese region due to its China desk, which is led by M&A practice head Ansgar Rempp as well as Ulrich BrauerAdriane U Sturm is a 'hard negotiator'.

Practice head(s):

Ansgar Rempp

Other key lawyers:

Ulrich Brauer; Adriane Sturm

Testimonials

What characterises Jones Day in cross-border M&A transactions is the excellent coordination and cooperation of its lawyers in different jurisdictions.

Efficient performance. Exemplary service-orientation.

Key clients

Alcatel Lucent (jetzt ALE Holding)

DBAG Deutsche Beteiligungs AG

Deutsche Bank

Ebase (European Bank for Financial Services)

Essilor

Fosun

GE

Georgia Pacific

GfK

IBM

Koch Industries

KWS Saat

MAHLE

PAG Asia Capital

Plastic Omnium

Procter & Gamble

SAP

Stanley Black & Decker

Suez

Timken

Toyota Motor Corp.

Work highlights

  • Advice to Procter & Gamble on the €3.4 billion purchase of the global consumer-health-sector of Merck.
  • Advice to Plastic Omnium Group on the purchase of the majority in the world-wide active HBPO Group.
  • Advice to the PAG Asia Capital on the USD 1.6 billion takeover of all financial assets of the Takata Corporation in Germany, the USA, Japan and other European countries by Key Safety Systems.

Sullivan & Cromwell LLP

Sullivan & Cromwell LLP's Frankfurt-based transactional practice can rely on its good international network. The group frequently cooperates with the US offices of the firm to advise on large transatlantic deals. The wide-ranging expertise of the team also includes capital markets and private equity-related issues. Managing partner Carsten Berrar is additionally well versed in financial services matters.

Other key lawyers:

Carsten Berrar

Allen & Overy LLP

Allen & Overy LLP's practice often acts in cross-border and US-related matters and utilises its broad expertise in large-scale transactions for clients from various industries: the group assists financial services providers as well as large corporations and listed companies in the automotive, energy and real estate sectors. Practice head Hans Schoneweg in Hamburg also advises on restructuring and Hans Diekmann has wide-ranging experience in public takeovers.

Practice head(s):

Hans Schoneweg

Other key lawyers:

Hans Diekmann

Baker McKenzie

International transactions are one of the central pillars of Baker McKenzie's M&A practice. The group advises large German companies on matters abroad as well as foreign investors on transactions in Germany. Particularly the China desk in Frankfurt focuses on transactions by Chinese buyers, who contemplate acquisitions in Europe, the Middle East and Africa; therefore, the team features six German and Chinese speaking lawyers. Christian Atzler and Ingo Strauss head the practice.

Practice head(s):

Christian Atzler; Ingo Strauss

Testimonials

The partner involvement is unique.

Key clients

Evonik Industries

Körber AG

Birlasoft

Sika

Thor Industries

Work highlights

  • Advice to the international technology group Körber on the sale of its business area machine tools to an investor pool.
  • Advice to Thor Industries, Inc., one of the world-wide leading manufacturers of leisure vehicles, on the purchase of the German Erwin Hymer Group.
  • Advice to Sika on their binding offer on the takeover of the French furniture manufacturer Parex from the financial investor CVC Capital Partners at a value of CHF2.5 billion.

CMS

CMS‘ M&A practice is particularly active in the energy and financial sectors, although the team also frequently advises IT companies. The group assists national corporations with foreign investments as well as with infrastructure projects among other matters. Maximilian Grub, Hilke Herchen and Ernst-Markus Schuberth jointly head the practice. Marcel Hagemann is considered a 'good strategist' and Thomas Meyding is noted for his expertise in the automotive, financial services and media sectors.

Practice head(s):

Maximilian Grub; Hilke Herchen; Ernst-Markus Schuberth

Other key lawyers:

Marcel Hagemann; Thomas Meyding

Testimonials

Efficient cooperation within the team.

CMS Deutschland has a great know-how in all M&A-relevant areas.

Key clients

TATA

Land Niedersachsen

Porsche

Pioneer & Onkyo

Airbus

B.Braun Melsungen

Strabag

E.ON

EnBW

Dea

Work highlights

  • Advice to Highland Power Limited on the takeover of two integrated energy projects in Rwanda from the previous project developer Symbion Group.
  • Advice to Augur Financial Opportunity Sicav on the sale of 100% of its shares in the Veritas Gruppe to the French Asset Manager Groupe La Française.
  • Support to the VR-LEASING AG on the sale of the BFL Leasing GmbH to the BAWAG Group.

Gibson, Dunn & Crutcher LLP

Gibson, Dunn & Crutcher LLP's M&A practice is particularly adept in international transactions, while the group also has notable expertise in complex carve-out matters. The team cooperates across practices with the IP, tax and employment as well as the financing departments of the firm and is often instructed by technology-oriented companies. The transatlantic cooperation with the broad US team facilitates comprehensive advice specifically on US-related matters. Lutz Englisch has ‘outstanding legal and M&A-related expertise‘ and Wilhelm Reinhardt is an ‘expert for public takeovers‘.

Other key lawyers:

Lutz Englisch; Wilhelm Reinhardt

Testimonials

Gibson, Dunn & Crutcher offers a strong and highly committed team.’

Key clients

HJM Investment GmbH & Co. KG.

Bosch

Canal+

Giesecke+Devrient GmbH

Wirecard

Work highlights

  • Advice to HJM Investment GmbH & Co. KG on the purchase of the RKW SE as well as sale of the RENOLIT SE.
  • Advised Canal+ on the purchase of the M7-Gruppe, a leading provider of satellite TV and IP TV-solutions.
  • Advised the Wirecard AG in the course of the agreement of a strategic partnership with the Softbank Group Corp., Japan.

Kirkland & Ellis International LLP

The M&A practice at Kirkland & Ellis International LLP predominantly acts in private equity-related matters and has notable expertise in sponsor-led P2P situations and takeovers. The group is also adept in carve-out matters. Benjamin Leyendecker and Jörg Kirchner are the key contacts.

Other key lawyers:

Ben Leyendecker; Jörg Kirchner

Key clients

EP Global Commerce GmbH

Cinven

Bain Capital

Toys ‘R’ Us

Aktionäre von Jack Wolfskin

KKR

GTCR

Work highlights

  • Advice to the EP Global Commerce GmbH on the purchase of a major share in the METRO AG from the Haniel Finance Deutschland GmbH, a one hundred percent subsidiary company of the Franz Haniel & Cie. GmbH.
  • Advice to Cinven on the potential takeover of Scout24.

Norton Rose Fulbright

The German M&A practice at Norton Rose Fulbright advises on large deals in the energy, infrastructure, insurance and technology industries as well as in the financial sector. Stefan Feuerriegel in Hamburg and Frank Peter Regelin in Frankfurt head the 21-partner team. Katrin Stieß particularly often assists technology companies and newly appointed partner Marco Niehaus is considered an 'excellent M&A expert'.

Practice head(s):

Stefan Feuerriegel; Frank Peter Regelin

Other key lawyers:

Frank Henkel; Katrin Stieß; Marco Niehaus

Testimonials

Highly specialised and scalable team, nationally as well as internationally.’

Pleasant cooperation.

Work highlights

  • Advice to the BMW AG on the merger of the mobility services of BMW and Daimler AG in 18 countries overall.
  • Advice to the Canadian Tire Corporation Limited on the purchase of Helly Hansen, the Norwegian manufacturer of work and outdoor clothing and market leader in this area.
  • Advice to the Prüfungsverband deutscher Banken e.V. (The Auditing Association of German Banks) on the admission of the HSH Nordbank AG as a member of the Prüfungsverband and therefore the admission of the bank to the deposit protection fund of the Bankenverband.