Linklaters > Munich, Germany > Firm Profile

Linklaters > The Legal 500 Rankings

Banking and finance > Financial services: regulatory Tier 1

Banking and finance > Investment funds Tier 1

Linklaters‘ key strength in the investment fund area is the advice on the structuring and launch of funds. The team focuses on alternative asset classes, including real estate funds, as well as debt funds and European long-term investment funds (ELTIFs). Matters pertaining to fundraising, regulatory law and ESG are also covered. The practice management demonstrates real estate expertise with co-head of the real estate practice Markus Wollenhaupt and Alexander Vogt, who advises on alternative investments as well as transactions in the asset management sphere. Olena Tokman made partner in May 2023 and is well versed in regulatory issues and transactions.

Capital markets > Debt capital markets Tier 1

Hybrid, convertible and exchangeable bonds as well as straight debt and EMTN programs form the core business of Linklaters' practice, while it is also frequently instructed to assist with ESG-related bonds issues. Thanks to its broad set-up, the group is further experienced in advising on matters at the interface of ECM and DCM, including hybrid instruments. International transactions are frequently handled by Alexander Schlee, who is experienced in block trades as well as convertible and exchangeable bonds, among other matters; Peter Waltz also specialises in the latter, with his wealth of experience further spanning regulatory matters and structured financing. Counsel Martin Rojahn is another key contact for hybrid bonds and ESG-related transactions.

Capital markets > Equity capital markets Tier 1

Linklaters' capital markets practice has continued to be involved in the largest transactions of recent times; symbolic of this was its advice to Porsche and Volkswagen on the IPO of Porsche AG. In addition to IPOs, the group also assists with spin-offs, capital increases and block trades, among other matters, and acts on both the bank and issuer side. Practice head Marco Carbonare particularly impresses in international transactions, for instance in relation to Scandinavia, Austria and the US, and is also experienced in corporate and M&A. Alexander Schlee's mainstays include IPOs and subscription rights capital increases.

Capital markets > Structured finance and securitisation Tier 1

Linklaters' core competencies include the structuring of international financings and those related to ESG and new technologies as well as (synthetic) securitisations, which are often handled for clients from the electronic payment services, automotive and Fintech sectors. This is complemented by expertise in repackaging transactions as well as in derivatives across all asset classes; practice head Christian Storck is one of the central contacts for the latter area and not only covers OTC derivatives but also various capital market products and structured financing. Barbara Lauer specialises in NPL transactions and synthetic securitisations and, alongside Burkhard Rinne and counsel Jördis Heckt-Harbeck, is also experienced in asset-based structured financing.

Corporate and M&A > Corporate Tier 1

Linklaters advises DAX40, MDAX and SDAX companies as well as other high-profile German and international corporations and their boards of directors on corporate issues, including in connection with restructuring projects, reorganisations, IPOs and general meetings. Tim Johannsen-Roth further complements the practice's capacities with expertise in complex M&A deals, restructuring and corporate governance and jointly leads the team with Marco Carbonare, who assists companies and financial investors with cross-border M&A and capital market transactions. The team also includes Ralph Wollburg, who heads the global M&A group and advises DAX companies on cross-border acquisitions, Kristina Klaaßen-Kaiser (cross-border mergers, sales and acquisitions), Staffan Illert (stock and capital market law advice as well as corporate disputes) and Hans -Ulrich Wilsing (stock corporation and corporate law). M&A and restructuring expert Andreas Zenner made partner in May 2023.

Corporate and M&A > M&A

Linklaters advises DAX40 and international companies and their bodies on large and mid-cap, often cross-border transactions. A particular practice focus rests on advising companies from the energy, health, infrastructure and mobility sectors, with clients from the technology, chemical and financial services sectors also accessing the team's expertise. Tim Johannsen-Roth, who primarily advises on public takeovers, restructurings and national and international acquisitions, and corporate and private equity expert Marco Carbonare jointly lead the group. The core team also includes Ralph Wollburg, who heads the global M&A practice and primarily looks after DAX companies, Kristina Klaaßen-Kaiser, who is experienced in national and international M&A, Christoph van Lier, who is well versed in public takeovers, as well as the M&A and corporate disputes-savvy Staffan Illert. In May 2023, private equity specialist Carl Sanders and Andreas Zenner (M&A transactions, restructuring, corporate law) made partners, while real estate lawyer Carsten Loll joined Latham & Watkins LLP in October 2022. The two managing associates Dominik Wegener (in addition to M&A also VC) and Alina Kaufmann (in addition to M&A also general corporate law) are additional key contacts.

Dispute resolution > Commercial litigation Tier 1

Due to its interdisciplinary set-up and global integration, Linklaters' renowned dispute resolution practice handles an impressive number of contentious matters for national and international companies in the healthcare, energy, automotive and financial services industries; the team places a particular focus on banking, corporate and commercial disputes, antitrust damages proceedings as well as D&O and product liability conflicts. In the energy sector, the practice further focuses on contentious supply contract, price adjustment and hardship clauses issues, where practice head Alexandros Chatzinerantzis has extensive experience, as well as on construction, commercial and corporate conflicts. Contentious ESG matters are also increasingly contributing to the practice's case load - here Julia Grothaus (antitrust and corporate law) places a strong focus on liability risks associated with sustainability issues. While Rupert Bellinghausen is active in post-M&A arbitration proceedings, class actions, antitrust damages litigation, product liability and corporate disputes, Kerstin Wilhelm advises on white-collar criminal proceedings. Counsel Anke Krause is one of the key contacts for product liability proceedings and contractual disputes.

Dispute resolution > Financial services: litigation Tier 1

Linklaters primarily acts for national and international banks: practice head Alexandros Chatzinerantzis and Christian Schmitt, who particularly focuses on defending banks against damages claims and cum-ex-related advice, are among the key contacts. Various clients from the automotive, energy and healthcare sectors further rely on the team's experience in complex sanctions and fine proceedings, in enforcing damages claims and in contractual disputes.

Industry focus > Energy

Energy suppliers, project developers, financial investors, banks as well as states regularly call upon Linklaters' energy sector expertise in the transactions context, where Jens Hollinder Bäumer and practice head Thomas Schulz are among the key contacts. This is complemented by regulatory expertise, thereby advising on emissions trading and security of energy supply. The team also assists with transaction-related financing issues and dispute resolution and covers various sectors, including oil and gas, nuclear power, LNG, hydrogen and renewable energies as well as energy storage systems and e-mobility. Counsel Julia Sack is another key contact and is experienced in transactions and joint ventures.

Germany > Tax Tier 1

Linklaters is particularly well versed in transactional tax law and regularly advises market-leading companies and financial institutions across practices and countries. Thus, practice head Oliver Rosenberg, who was appointed Global Head of Tax in 2022, routinely assists with M&A projects with a focus on the energy sector as well as with complex restructurings. Here, he can also rely on the expertise of Sebastian Benz, Andreas Schaflitzl and Christian Hundeshagen, who are also adept at transfer pricing. In addition, the company has adjacent skills in ​​fund structuring and investment tax law and supplements this with relevant experience in crisis management, compliance and criminal tax matters. Jens Blumenberg is the key contact for cum-ex and cum-cum issues, while Rainer Stadler handles tax disputes as well as tax-oriented group restructuring and fund structuring. Restructuring specialist Anne Katharina Rosenow made counsel in November 2022. Counsels Julian Böhmer and Kirsten Placke focus on tax structuring advice related to corporate restructuring and transactions.

Trade and distribution > Foreign trade law

Linklaters specialises in investment control and advises on regulatory compliance as well as approval procedures and merger control filings. Here, practice head and merger control expert Christoph Barth regularly supports transactions of Chinese investment funds. Thanks to the close cooperation with the dispute resolution practice, the team increasingly assists with sanctions law matters in supporting companies in the sale of Russian company shares.

Germany > Antitrust Tier 2

Integrated into the global antitrust & foreign investment group, Linklaters‘ German antitrust team offers longstanding experience in national and international merger control as well as cartel proceedings, including abuse of market power and damages compensation proceedings before the relevant authorities in Germany and the EU. In addition to ongoing antitrust law advice, which also covers compliance, the team regularly advises in close cooperation with the experts from the corporate, dispute resolution and energy law teams; this is complemented by Christoph Barth‘s investment control expertise. Key contact Carsten Grave is experienced in merger control and cartel proceedings. Other core members are Daniela Seeliger (cartel proceedings, compliance and cross-border merger control proceedings) and counsel Ingo Klauß, who is increasingly instructed by clients with a dominant market position.

Dispute resolution > Arbitration (including international arbitration) Tier 2

Linklaters' extensive experience in arbitration extends from corporate and commercial conflicts to banking and energy disputes. Head of the German dispute resolution group Alexandros Chatzinerantzis is particularly well versed in the latter area and is also very active as a party representative in construction, commercial and corporate disputes; contentious matters in the healthcare, automotive, consumer goods and chemical sectors represent other practice mainstays. Rupert Bellinghausen is considered an expert in post-M&A arbitration proceedings, while Julia Grothaus and counsel Anke Krause focus on antitrust disputes.

Insurance > Advice to insurers Tier 2

Linklaters demonstrates particular strength in restructuring and transactions and is also well versed in the advice on business expansion. The focus here is on insurance company law at the interface with corporate law and M&A. The international orientation and integration of the German team is highlighted with Wolfgang Krauel and Thomas Broichhausen as co-heads of the global insurance group. Broichhausen is experienced in reinsurance structures and bancassurance transactions and also counts insurtechs and fintechs among his clients; Frederik Winter is the key contact for general insurance supervisory matters and investment restrictions.

Private equity > Transactions

Linklaters routinely cooperates with the corporate and M&A practice, here, the key contacts are Andreas Müller and practice head as well as co-head of the global financial sponsors team Ralph Drebes. This integrated approach is utilised in the advice to investors, including long-standing client relationships, and companies on national and cross-border large and mid-cap transactions. This is complemented by expertise in the regulated industries, including energy, healthcare, (digital) infrastructure and technology, where Carl Sanders is a key contact; he made partner in May 2023.

Real estate and construction > Real estate Tier 2

Linklaters primarily supports investors, banks, insurance companies and investors in pan-European (portfolio) transactions, with recent instructions pertaining to the asset classes logistics, industry, residential and office as well as specialist properties such as nursing homes, retirement properties and data centers. Practice head Wolfram Krüger boasts similar competencies and also acts as a notary. The team also assists with financing and refinancing as well as asset management. The growth topic ESG includes the advice on legislative and regulatory measures to reduce greenhouse gases, sustainability-related matters under tenancy law and ESG in connection with transactions. In October 2022, real estate transaction expert Carsten Loll joined Latham & Watkins LLP.

Restructuring and insolvency > Restructuring Tier 2

Linklaters offers excellent international capacities and focuses on financial and operational restructuring as well as insolvency law matters and distressed M&A. The traditional focus is on advising players from the banking sector, although the team has also recently been instructed by companies from the tourism, steel, shipbuilding, retail, energy and automotive sectors. Sabine Vorwerk, who is experienced in advising creditors, and Sven Schelo (restructuring of banks and financial institutions) jointly head the practice.

Banking and finance > Lending and borrowing Tier 3

Linklaters advises lenders, such as national and international banks, as well as companies from various sectors, including energy and infrastructure, on acquisition financing, syndicated credit facilities, promissory note loans, leveraged finance and finance restructuring. Practice head Marc Trinkaus advises on acquisition financing as well as restructuring; his team increasingly assists with sustainable financing matters such as recent instructions pertaining to promissory note transactions. Przemyslaw Lipin is another key contact and focuses on the leveraged finance area.

Compliance Tier 3

Linklaters' interdisciplinary approach covers cross-border matters and the team frequently advises international financial institutions as well as German and foreign companies from various industries, including energy, aviation, automotive, manufacturing and consumer goods. The practice is experienced in advising on matters in connection with sanctions, including so-called exits of Western companies from Russia; the team also advises on human rights and supply chain-related matters, whistleblower systems, antitrust compliance, corporate governance, D&O liability as well as tax compliance and data protection. Hans-Ulrich Wilsing (corporate governance and corporate law) and Kerstin Wilhelm (internal investigations, preventive compliance and crisis management) jointly head the practice. Managing associate Jacqueline Kusserow advises on the prevention of sanctions risks and is also experienced in internal investigations.

Compliance > Internal investigations Tier 3

Linklaters is experienced in supporting companies from the energy, aviation, automotive, manufacturing and consumer goods sectors in internal investigations; international matters are covered thanks to the frequent cooperation with the firm’s network. This cross-border expertise is regularly called upon in connection with allegations pertaining to #MeToo, compliance violations, EU and Russia-related sanctions, antitrust law, criminal law and cum-ex. Hans-Ulrich Wilsing (corporate law, governing bodies) and Kerstin Wilhelm (clients' representation and investigations) jointly head the team. Jens Blumenberg and Christian Hundeshagen assist with alleged tax fraud matters, while Daniela Seeliger is well versed in  antitrust law. Associate Jacqueline Kusserow (in addition to internal investigations, dispute resolution and risk assessment regarding sanctions) is another key contact.

Industry focus > Healthcare and life sciences Tier 3

Linklaters' healthcare team is integrated into the global healthcare and life sciences group, thus covers cross-border matters, including transactions, restructuring and joint ventures. The practice is led by Jana Hager, who joined the partner roster in May 2023. Clients stem from the pharmaceutical, biotechnology, medical devices and healthcare services sectors and frequently instruct the team on interfacing corporate and M&A matters as well as regulatory issues in the area of ​​product liability and safety, including related disputes, as well as ​​compliance. Bolko Ehlgen and Julia Schönbohm both complement this offering with expertise in patent law as well as in the digital healthcare and data protection segments.

Public sector > Commercial administrative law Tier 3

Public sector > Planning and environment Tier 3

Linklaters particularly often demonstrates its environmental and planning skills in planning and approval procedures for large electricity and gas projects: in this context, the team is not only involved in federal planning advice, but due to practice head Markus Appel's expertise, also covers contractual and climate protection aspects. Appel also increasingly advises on ESG and provides environmental due diligence and compliance assistance for IPOs, M&A transactions and project financing.

Banking and finance > Fintech Tier 4

Intellectual property > Patent litigation: solicitors Tier 4

Linklaters' key competencies include inter pares and infringement proceedings and are particularly often exerted for global corporations due to the firm's international positioning. The group has further expertise in antitrust-related issues which it applies in SEP and FRAND disputes among other matters. Julia Schönbohm heads the practice and specialises in advice to the technology sector, while Bolko Ehlgen is particularly involved in healthcare-related matters.

Germany > Employment Tier 5

At Linklaters, restructuring, transaction-related employment issues, crisis management, compliance and company pension schemes stand at the heart of its practice; in the latter area, ongoing advice plays as much a role as disputes and transaction-related issues pertaining to pension buyouts. Financial services industry expert and practice head Matthew Devey advises on carve-outs, outsourcing transactions, business transfers and company pension issues and is thereby increasingly active in cross-border matters. He is supported, among others, by Timon Grau, who is experienced in litigation and advising governing bodies. Peter Gumnior (advising financial services players on contract drafting and compensation issues) joined Gibson, Dunn & Crutcher LLP in February 2024.

Industry focus > Telecoms