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Norton Rose Fulbright

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Antitrust - ranked: tier 6

Norton Rose Fulbright

Norton Rose Fulbright provides ‘overall excellent’ antitrust advice: Under the lead of the renowned Maxim Kleine the practice handles cartel investigation and sanctioning proceedings, merger control, damage claims and compliance measures, often in cooperation with the Brussels office. It gave antitrust and merger control advice regarding the establishment of a joint venture by four private health insurers and represented a cooperative agri-trade, wholesale and retail company in a series of investigation proceedings by the Federal Cartel Office. The firm also handles damage claims arising from the rail cartel; it currently represents a company on the defendant side.

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Employment - ranked: tier 6

Norton Rose Fulbright

Norton Rose Fulbright provides ‘concise’ employment law advice including ‘concrete recommendations for action’. Utilising its international network when advising US companies, among others, the team has significant expertise in the life sciences, technology and financial industries, which is frequently called upon by clients such as AIG Europe, Bilfinger and Beiersdorf. The ‘solution-orientedKatrin Scheicht provides ‘quick and precise answers to complex questions’ and ‘adheres to the highest standards’. The team led by Cornelia Marquardt was further strengthened by the arrival of counsel Claudia Posluschny from Reed Smith in July 2016.

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Tax - ranked: tier 6

Norton Rose Fulbright

Norton Rose Fulbright’s ‘efficient’ tax law team is ‘good all around’ and clients also praise its ‘quick and comprehensible answers, which take any possible risks into account’. The practice is particularly experienced in handling real estate, energy, technology and insurance sector work with regular instructions including tax structuring matters and tax-related assistance with national and cross-border transactions. In conjunction with the corporate team, the ‘very experiencedUwe Eppler advised Coriolis on the equity investment in the offshore wind farm Merkur, and assisted Redefine International with the sale of a German commercial real estate portfolio, including the pre-structuring of the sale. On an ongoing basis, the team provides a bank with regular advice on tax matters pertaining to company start-ups and cross-border mergers. Tino Duttine provides ‘excellent support’ and is singled out for his ‘expertise and deep industry knowledge’. Auditor and tax advisor Alexander Hemmelrath left the firm in September 2016 to work independently at Hemmelrath Steuerberatungsgesellschaft mbH.

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Germany: Banking and finance

Financial services: regulatory
Banking and finance: financial services: regulatory - ranked: tier 4

Norton Rose Fulbright

Norton Rose Fulbright’s practice around Rüdiger Litten and Martin Krause primarily advises banks and other financial services providers on regulatory matters, including a strong focus on MiFID II, but also EMIR compliance. The firm also recently saw increased work in the FinTech sector. Bankhaus Metzler is a regular client regarding regulatory issues in connection with derivatives and KT Bank concerning consumer protection. Another client is Wüstenrot & Württembergische. Also noteworthy is the team’s regulatory advice to Turkish banks in Germany in the context of capital markets business and structured products.

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Investment funds
Banking and finance: Investment funds - ranked: tier 4

Norton Rose Fulbright

Norton Rose Fulbright’s ‘very broad portfolio’ in the investment fund area consists of advice on open-ended and closed-ended funds, including alternative asset classes. The client portfolio is comprised of asset managers, international investment banks and issuing houses and the firm advises on the structuring of funds and the distribution with regulatory expertise on matters around MiFID II, among others. The team surrounding Martin Krause has been busy providing advice in connection with funds for institutional investors. The practice also benefits from an office in Luxembourg.

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Lending and borrowing
Banking and finance: Lending and borrowing - ranked: tier 3

Norton Rose Fulbright

With a focus on advising domestic and international banks and financial institutions the ‘excellent’, ‘always available, tactically adept and overall very client-oriented’ team at Norton Rose Fulbright focuses in particular on corporate, real estate and asset finance. It advised KfW IPEX-Bank on a $154m loan agreement covered by Euler Hermes between KfW IPEX-Bank and Eastern and Southern African Trade and Development Bank for the purchase of an airbus A330-200 and an airbus A330-300 by RwandAir. Anthony Morton, who advises on English law, assisted the IFC with a loan agreement with PT. B Braun Medical Indonesia and PT. B. Braun Pharmaceutical Indonesia as borrowers and B. Braun as guarantor. Clients on the banking side also include LBBW and The Bank of Tokyo-Mitsubishi, and AEW Europe and Invesco Real Estate sought the firm’s advice on various real estate financings in Germany and abroad. The client portfolio, however, also consists of mid-sized companies on the borrowers’ side, such as a German real estate company in connection with the refinancing of an existing margin loan agreement. The well regarded Oliver Sutter has a ‘longstanding wealth of experience’ and is noted for his ‘expertise, flexibility, quick grasp, goal-orientation and pragmatism’. Nadine Bourgeois is also recommended. The firm merged with Chadbourne & Parke in June 2017.

Leading individuals

Oliver Sutter - Norton Rose Fulbright

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Project finance
Banking and finance: Project finance - ranked: tier 2

Norton Rose Fulbright

Norton Rose Fulbright continues its ‘strong’ project finance practice and primarily acts on the lenders’ side in projects in the infrastructure and energy sectors. A highlight was advising an international banking syndicate with the participation of EIB and KfW on the €950m refinancing of the 288 MW Butendiek offshore wind project under the lead of Dirk Trautmann. He also assisted the financing banks with the A7 II highway PPP project in Lower Saxony and continues to act for KfW IPEX-Bank and an international banking syndicate regarding the financing of Nordergründe offshore wind farm. Timo Noftz is also recommended.

Leading individuals

Dirk Trautmann - Norton Rose Fulbright

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Germany: Capital markets

Equity capital markets
Capital markets: Equity capital markets - ranked: tier 5

Norton Rose Fulbright

A ‘preferred firm’ for several clients, Norton Rose Fulbright’s equity capital markets practice is considered ‘very good’ and advises primarily on the issuer side. A highlight was advising ADLER Real Estate on the issue of a convertible bond at a value of €137.8m by issuing subscription rights to the existing shareholders and convertible bond holders and private placements in particular jurisdictions outside Germany and the US. The team also acted for paragon in the context of its €13.5m capital increase under exclusion of the subscription rights of the shareholders and an international private placement with qualified investors. Another key client is quirin bank. Frank Regelin head the equity capital markets practice and also the corporate team. Peter Holst is noted for his ‘quick thinking and very good equity capital markets knowledge’ and in October 2017 Benedikt Gillessen joined from White & Case LLP.

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Germany: Corporate and M&A

Corporate and M&A: Corporate - ranked: tier 4

Norton Rose Fulbright

Norton Rose Fulbright provides ‘reliable advice’ on corporate governance and compliance matters as well as mergers, reorganisations and charter amendments. The group also recently handled some changes of the legal form from a public limited company (AG) to an SE; for example, Sumitomo Electric Bordnetze was advised on the change of legal form to an SE, which also included handling a dispute concerning the legal status. From Munich, Frankfurt and Hamburg respectively, Klaus Bader, Frank Regelin and Klaus von Gierke lead the practice, which also includes Eva-Maria Barbosa and Andreas Börner, who are recommended for their insurance expertise. A ten-strong team led by Alexander von Bergwelt, Michael Malterer and Igsaan Varachia left the firm in July 2016 to join Dentons, after the firm already saw Sascha Grimm’s departure to an in-house post in May 2016. In February 2017, Patrick Narr and team joined from White & Case LLP. Partner promotions include Katrin Stieß and Peter Holst in May 2016 and Heiko Bertelmann in May 2017.

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M&A: mid-sized international deals (€100m-€500m)
Corporate and M&A: M&A: mid-sized international deals (€100m-€500m) - ranked: tier 3

Norton Rose Fulbright

Norton Rose Fulbright provides ‘client and service-oriented’ advice with a focus on energy and infrastructure, insurance, agribusiness and capital market transactions, and more recently in the technology sector and financial institutions. Sandvik retained the group for the sale of its mining systems operations business in a bidding procedure which involved more than 15 jurisdictions. An example for a merger is acting on behalf of machine tool manufacturer Rofin-Sinar Technologies concerning the merger with laser manufacturer Coherent. Klaus Bader, Frank Regelin and Klaus von Gierke co-lead the group. Sascha Grimm left to work in-house at Veritas in May 2016, while Alexander von Bergwelt, Michael Malterer and Igsaan Varachia left for Dentons two months later. However, the group also saw the arrival of Patrick Narr from White & Case LLP and three internal partner promotions: Katrin Stieß and Peter Holst in May 2016 and Heiko Bertelmann in May 2017.

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Germany: Dispute resolution

Commercial litigation
Commercial litigation - ranked: tier 4

Norton Rose Fulbright

Norton Rose Fulbright’s client base includes insurance companies, banks and large corporations: in recent work, Sven Förster assisted an insurance services provider with negotiations on damages that had occurred from a warranty and indemnity insurance, and Clemens Rübel has been representing an automotive supplier in cross-border patent infringement proceedings concerning automobile headlights. Team head Jamie Nowak defended a European distribution company of a global electronics company against damage claims filed for an alleged deficient control system.

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Germany: IT and outsourcing

Data protection
IT and outsourcing: data protection - ranked: tier 3

Norton Rose Fulbright

Norton Rose Fulbright’s international data protection practice focuses on global GDPR projects, GDPR advice for European and Asian clients, cybercrime and contentious data protection proceedings. Christoph Ritzer, who was promoted to partner, continues to advise Lilly Germany on the Privacy Shield agreement; other data protection mandates stem from a client portfolio that ranges from IT, finance and automotive to pharma and medical companies and entail compliance, internal investigations and employee data protection. Jamie Nowak is the main contact for disputes; Lutz Schreiber left for Eversheds Sutherland in May 2017.

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Germany: Industry focus

Industry focus: energy - ranked: tier 4

Norton Rose Fulbright

Following the addition of Gerd Stuhlmacher from E.ON Global Commodities in March 2017, Norton Rose Fulbright now also offers compliance, contract and commercial law assistance in the energy sector. Practice head Klaus Bader’s highlights include advising GE Capital/Coriolis on an equity investment in offshore wind farm Merkur and assisting Energie 360° and its subsidiary Smart Energy Innovationsfonds with a minority investment in energy storage developers VoltStorage and Luftmeister, which has developed the first air energy meter. Financing experts Dirk Trautmann, in Munich, and Timo Noftz, in Hamburg, advised an international consortium of banks on the €950m refinancing of offshore wind farm Butendiek. Of counsel Felix Dinger gained Senvion as a new client, assisting the company with a turbine supply contract and in procurement matters pertaining to wind farm Trianel Borkum II.

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Germany: Insurance

Advice to insurers
Insurance: advice to insurers - ranked: tier 2

Norton Rose Fulbright

Norton Rose Fulbright’s expertise incorporates transactional and insurance supervisory law capabilities alongside distribution law and brokerage know-how, leading to regular instructions on outsourcing, capital raising, risk mitigation techniques and capital investment matters, among others. As highlights in the transactional space, Eva-Maria Barbosa advised Hyperion Insurance on the acquisition of a majority stake in Euroassekuranz Versicherungsmakler, and assisted Wüstenrot & Württembergische with the acquisition of 75% of the shares in treefin. In the regulatory space, the team provides regular advice to the Compre Group, frequently including corporate law elements. The team is also well versed in carrying out risk assessments of warranty & indemnity policies as demonstrated by Andreas Börner’s advice to an insurance company with regards to a transaction. He also advised China Re on regulatory matters pertaining to the operation of its reinsurance business in Germany. Recently promoted partner Sven Förster has been advising a reinsurance company on a reinsurance claim review for a liability case.

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Germany: Public sector

Public sector: PPP - ranked: tier 2

Norton Rose Fulbright

Dirk Trautmann and Michael Jürgen Werner are the main contacts for PPP projects at Norton Rose Fulbright. The group gained new infrastructure projects; for example Trautmann advised a consortium of banks (consisting of Caixa-Bank, DZ Bank, Development Bank of Japan, European Investment Bank and KfW IPEX-Bank) on the financing of the A7 highway project in the state of Lower Saxony. Together with Werner, he advised the Federal Ministry of Transport on the A6 highway project at the end of 2016. The group also provides ongoing advice to asset manager MEAG concerning the new construction of the southeast Hesse police headquarters.

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Germany: Real estate and construction

Real estate
Real estate and construction: Real estate - ranked: tier 4

Norton Rose Fulbright

In the first half of 2017, Norton Rose Fulbright’s Hamburg office increased its bench strength significantly by adding the ‘deal and solution-oriented, experienced and easy-to-deal-withStefan Feuerriegel and Patrick Narr alongside three of counsels and two associates from White & Case LLP. The team has been advising Patrizia on the acquisition, which is partly structured as a forward deal, of a retail portfolio from Newport. In other work, the practice assisted ECE and Strabag with matters pertaining to the development of the MesseCity Köln including hotel leases and the completion of real estate transactions. Other highlights included Thomas Hopf’s advice to Frasers Centrepoint and its subsidiaries on the acquisition of a majority stake in Geneba Properties from Catalyst RE Coöperatief, and Maren Stölting’s assistance of a Swiss pension fund with the acquisition of a mixed portfolio consisting of office, logistics and retail properties.

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Germany: Transport

Maritime and shipping
Transport: Maritime and shipping - ranked: tier 4

Norton Rose Fulbright

Having impressive international reach, Norton Rose Fulbright provides advice on all aspects of the maritime industry including maritime and shipping law. With specialist expertise in handling cargo damage matters, of counsel Axel Boës acted for AlfaStrakhovanie in several arbitration proceedings pertaining to P&I insurance covers. German shipping practice head and ship financing expert Timo Noftz advised a German financial institution on the refinancing and sale of a charted fleet.

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