Firm Profile > Clifford Chance > Frankfurt , Germany
Clifford Chance Offices
MAINZER LANDSTRASSE 46
60325 FRANKFURT AM MAIN
Clifford Chance > The Legal 500 Rankings
Advice to companies Tier 1
Clifford Chance’s combined white-collar crime, regulatory and compliance practice, which operates across national and international offices, acts for clients from various sectors in a wide range of white-collar criminal law matters, including internal investigations, but also focuses on financial, trade and service sector-related work. Team head Heiner Hugger recently acted for an IT company in a preliminary investigation pertaining to allegations of tax evasion. The practice also acted for a media company accused of the embezzlement of wages. Counsel David Pasewaldt is another key figure. Counsel Jochen Pörtge joined Pinsent Masons Germany LLP as partner in October 2018 and Alexander Cappel moved to Norton Rose Fulbright in December 2018.
Healthcare and life sciences Tier 1
Clifford Chance’s practice is jointly headed by Peter Dieners and Ulrich Reese, who are highly renowned legal experts in the healthcare sector. The duo are not only known for their regulatory expertise but also handle significant transactional work. Reese advised Fresenius Kabi on the acquisition of the biosimilars business from Merck and provided comprehensive advice to Pfizer on the reimbursement of a new medication according to AMNOG. Gunnar Sachs handled a number of matters for Sanofi Genzyme, including representing the client in Health Care System Act (HWG) proceedings, advice on product launches and contractual matters and on the use of apps. Counsel Claudia Nawroth also has expertise in the healthcare space.
Investment funds Tier 1
With particular expertise in the automotive, energy, infrastructure, healthcare, life sciences and chemical sectors as well as the real estate and TMT industries, Clifford Chance covers the full spectrum of investment fund matters as part of various transactional and investment-related mandates. Acting for investment funds and asset managers, the team is well versed in combining its expertise from various practice areas leading to regular joint instructions with the firm’s private equity, derivatives and tax departments. Finance expert Oliver Kronat and the highly regarded Josef Brinkhaus assisted a German pension fund with the creation of an alternative investment platform, while Gregor Evenkamp in conjunction with the corporate team advised the Nuclear Waste Disposal Fund (Fonds zur Finanzierung der kerntechnischen Entsorgung) on regulatory matters concerning capital investments and on the set-up of investment guidelines. In other work, Evenkamp, who has notable banking supervisory law and fintech experience, assisted Düsseldorf-based consulting and investment company Postera Capital with the launch of the first EU-regulated crypto asset fund Postera Fund - Crypto I in Liechtenstein. In the transactional space, Marco Simonis acted for Universal Investment on the acquisition of 39 residential properties in Japan, while Brinkhaus advised Ärzteversorgung Westfalen-Lippe on its share in the onshore wind farm Nordlicht in Norway. In another highlight, Sonya Pauls assisted EMH Partners with closing its EMH Digital Growth Fund.
Lending and borrowing Tier 1
‘Top market player’ Clifford Chance routinely assists banks, private equity investors and corporates, including family-owned companies, with national and international acquisitions alongside corporate finance, restructuring, refinancing and recapitalisation matters as well as with the acquisition finance for listed companies and infrastructure finance. Team head Bettina Steinhauer advised J.P. Morgan on providing Hochtief with the acquisition financing for its voluntary tender offer for Spanish company Abertis Infraestructuras, and, together with Barbara Mayer-Trautmann, she acted for Barclays as mandated lead arranger on a €12bn financing for Fortum’s public takeover offer for Uniper. In other significant work, the team advised an international banking consortium on financing the takeover of PlusServer, a provider of managed hosting and managed cloud solutions, by private equity firm BC Partners, and assisted Commerzbank with two loans for the acquisition of ZF Friedrichshafen’s Global Body Control Systems business by Hong Kong-based company Luxshare. In other work, the group advised Deutsche Glasfaser on a €650m refinancing, and assisted a Chinese consortium with the acquisition of Robert Bosch Starter Motors Generators. In early 2018, Thomas Weitkamp moved to Latham & Watkins LLP and counsel Mattias von Buttlar joined White & Case LLP. Acquisition finance expert Steffen Schellenschmidt joined the team from Fried, Frank, Harris, Shriver & Jacobson LLP in late 2018.
Project finance Tier 1
Frequently working in conjunction with other departments, Clifford Chance covers a wide range of project finance transactions but has particular expertise in ECA-backed financing, leading to regular instructions on German and international conventional and renewable energy and infrastructure projects. As another key element, the practice is also increasingly active in healthcare sector project work; an element that was further boosted by Anna Thwaites’s appointment as counsel in May 2018. Together with Riko Vanezis, she advised a banking consortium on the financing of the construction, operation and maintenance of an integrated health centre in Turkey. In other work, team head Florian Mahler assisted Global Infrastructure Partners with the financing of the acquisition of a 50% share in the offshore wind farm Borkum Riffgrund 2, which is currently under construction, and together with capital markets law expert Sebastian Maerker, he advised the city of Düsseldorf on its €600m financing to re-acquire the city’s sewer system. Ärzteversorgung Westfalen-Lippe received advice on its shareholding in the onshore wind farm Nordlicht in Norway, while advising the Saudi Arabian General Authority of Civil Aviation on the privatisation of five international airports in Saudi Arabia constitutes one of its international highlights. Beda Wortmann is another key member of the team and frequently handles PPP projects. Stadtwerke Augsburg is also among the clients.
Real estate Tier 1
Christian Keilich’s ‘strong’ real estate team at Clifford Chance serves as first contact point for many national and international clients, providing a wide range of real estate law advice. Keilich took over as practice head following the departure of highly regarded Cornelia Thaler in January 2019. Together with Thomas Reischauer, he advised RFR on the sale of the Primus real estate portfolio, consisting of several properties and project developments, to Signa for circa €1.5bn. Reinhard Scheer-Hennings advised CA Immo, WPI and another pension fund on the sale of high-rise office Tower 185 in Frankfurt to Deka Immobilien for €775m and Gerold Jaeger assisted Capstone Asset Management with the acquisition of the Zalando headquarters in Berlin from the project developer UBM Development by way of a forward deal. Fabian Böhm is also noted and Kristina Jaeger was made up to partner in April 2018.
Clifford Chance provides comprehensive advice on structured finance and synthetic securitisation and has particular expertise in real estate-related non-performing financing matters. In co-operation with its tax department, practice head Oliver Kronat advised several clients, including pension funds, on the establishment of an alternative investment platform, which provides institutional investors with the regulatory environment to invest in US real estate loans and infrastructure projects, among others. He also advised BMW Bank as originator on two securitisation transactions of automotive loan portfolios totalling approximately €1bn each, and assisted Vorarlberger Landes- und Hypothekenbank with the synthetic securitisation of a portfolio consisting of Austrian and German SME loans in order to free up core capital; this transaction included guarantees from the European Investment Bank (EIB) and the European Investment Fund (EIF). Other work includes assisting Christofferson, Robb & Company with a synthetic securitisation transaction of a multi-asset portfolio by Norddeutsche Landesbank, advising an asset manager on the securitisation of finfech loan receivables, and acting for a German credit institute on the issuance of various promissory note loans as part of the financing of real estate project developments.
Advice to insurers Tier 2
Clifford Chance’s strength lies in handling transactional matters for insurance and reinsurance companies as well as financial institutions. In recent work, team head Thomas Krecek advised Bremer Kreditbank on the acquisition of approximately 90.2% of Allianz Deutschland’s share capital in Oldenburgische Landesbank, while, in other significant work, he advised BNP Paribas on the acquisition of ABN Amro’s wealth management and insurance operations in Luxembourg. Advising insurance companies on Brexit-related matters is another key area of expertise, as showcased by the team’s assistance to an English insurance group with the establishment of a German insurance company and the portfolio transfer. Clients, including Allianz Real Estate, also benefit from the team’s real estate expertise, leading to instructions on matters pertaining to the acquisition of various office blocks, which are routinely handled by Christian Keilich.
Clifford Chance has a strong new generation of arbitrators and represents a wide range of companies in such cases. The practice group’s long-standing clients include Volkswagen, Metro and the European Central Bank. Post-M&A disputes accounted for a large part of its recent work: for example, practice head Michael Kremer is representing an automotive supplier in challenging a transaction. The ‘commended’ Tim Schreiber is another central figure; he was involved in a high-volume ICC arbitration in connection with the termination of oil and gas contracts and allegations of expropriation. Moritz Keller, who joined from Freshfields Bruckhaus Deringer in August 2018, has further bolstered the team.
Commercial litigation Tier 2
While Clifford Chance’s strength in litigation has traditionally been in banking and plant construction, the firm now handles a strong caseload of antitrust litigation and D&O instructions. For example, the group defended MAN in follow-up proceedings concerning claims for damages in connection with the truck cartel. In another notable highlight, the ‘expert’ Michael Kremer representated a supervisory board in a dispute concerning the client’s involvement in the diesel emissions scandal. Volkswagen, Siemens and Kone are other clients. Uwe Hornung is ‘a very experienced litigator’, while Sebastian Rakob and counsel Jan Conrady are also recommended.
Debt capital markets Tier 2
The team at Clifford Chance provides ‘a very high service level’, frequently assisting clients, including banks and well-known companies, with standalone bonds and issuance programmes alongside liability management transactions and high-yield bonds. In recent work, the team advised Volkswagen and Volkswagen Finance on the issuance of a hybrid bond worth €3.5bn consisting of two tranches, assisted BNP Paribas and UBS Investment Bank with alstria office REIT’s capital measures, and acted for HSBC Bank, the bookrunner, on the issuance of a bond by AT & S Austria Technologie & Systemtechnik. In other significant work, ‘very experienced’ team head Sebastian Maerker, who is also noted for his ‘client-oriented approach’, assisted a banking consortium including, among others, J.P. Morgan, Barclays, HSBC and ING, with the issuance of a bond by SAP, and advised Surteco on the issuance of promissory loans totalling over €200m. Merrill Lynch International, Landesbank Hessen-Thüringen and Citigroup Global Markets are also clients.
Energy Tier 2
Clifford Chance’s ‘excellent’ energy and infrastructure practice is recognised in particular for its advice on projects and transactions. Co-practice head Björn Heinlein assisted transmission system operator Ontras Gastransport with the acquisition of co-ownership, a fractional share of 16.5%, in the pipeline project EUGAL from Gascade Gastransport and together with Mathias Elspaß, who jointly heads the practice, advised export credit insurers on the financing of the Trans Adriatic Pipeline. Markus Muhs and Anselm Raddatz handled the establishment of a joint venture with CK Asset for CK Infrastructure and the acquisition of 100% of ista International from CVC Capital Partners Fund V in the context of the joint venture. In the renewable energy space, highlights included the firm’s advice to Global Infrastructure Partners on the acquisition and financing of a share in Borkum Riffgrund 2 offshore wind farm. Regulatory expert Thomas Voland’s arrival from Freshfields Bruckhaus Deringer in May 2018 further strengthened the team.
Clifford Chance’s dispute resolution team defends clients against claims for damages and contract disputes, and represents them in tax proceedings and internal investigations. The main contact is the experienced Burkhard Schneider, who focuses on securities and banking disputes as well as on contract drafting and management. Recent work includes representing a bank in a number of banking supervisory proceedings. The group, which also includes senior associates Sibylle Haas and Paul Hauser, assists various clients with legal questions concerning cum/ex and cum/cum transactions.
Global financial institutions and investors benefit from Clifford Chance’s expertise in contentious and non-contentious regulatory matters pertaining to the Banking Union and ECB requirements alongside Brexit-related issues.Marc Benzler continues to advise several financial institutions on the implementation of a Brexit strategy such as market access requirements, relocation and business transfer issues. The Royal Bank of Canada (RBC) received assistance with the establishment of a securities bank in Frankfurt, which included the foundation of a holding company in Luxembourg, while, in an equally noteworthy instruction, the team assisted Goldman Sachs with the implementation of MiFID II requirements for its private wealth management division. The team is also well versed in handling derivatives-related regulatory work, advising on matters pertaining to netting, collaterals and clearing, alongside fintech matters, leading to regular instructions from investors and banks on business model and licensing issues.
Restructuring Tier 2
Clifford Chance’s business model is primarily based on representing banks and creditors in the event of their debtors’ restructuring or insolvency, as well as advising insolvency administrations and potential investors. The highly regarded Stefan Sax is part of the creditors’ committee for the insolvency of a transport industry group; he is instructed by certain creditors concerned with the operative business, while a potential investor was also a client. In other work, he advised the management of a retail company on the structuring and implementation of a management incentive programme following the restructuring. Other restructuring instructions include matters pertaining to the insolvency of satellite technology company Kathrein, solar module manufacturer Solarworld and kitchen group Alno.
Tax Tier 2
The nine-strong partner team at Clifford Chance stands out for its ‘professional work’ in tax law matters, which comprises tax assistance with M&A deals, asset management and ‘commendable’ tax advice in the property sector in addition to legal disputes. The firm benefited from its broad experience when advising a commercial property company on the tax law aspects of a merger with another commercial property company. The group, which is led by practice head Felix Mühlhäuser, assisted with a company acquisition in the pharmaceutical industry and advised Volkswagen on the tax law aspects relating to the placement of bonds in the amount of C$1.5bn. Jan Grabbe advised private equity company Montana Capital Partners on the tax law aspects of the closure of a fund in the amount of €800m. Uwe Schimmelschmidt left the legal profession in January 2018 and is now behind the online platform Zasta.de along with another investor. Counsel Marie-Theres Rämer joined DLA Piper* in May 2018.
Transactions Tier 2
Clifford Chance has strength advising global private equity firms on transactions in regulated industries and cross-border leveraged buyouts. In addition, the group is experienced in the infrastructure sector, especially in the energy and telecoms space. Markus Muhs and practice head Anselm Raddatz advised CK Infrastructure on a joint venture with CK Asset and on the joint venture’s acquisition of ista International from CVC Capital Partners Fund V with an enterprise value of €5.8bn. In other notable instructions, Joachim Hasselbach and Frederik Mühl advised Cinven on the sale of CeramTec, a manufacturer of high-performance ceramics, to a consortium of investors led by BC Partners; together with colleagues from the London office, the duo assisted private equity investor 3i and funds managed by 3i on the sale of their stake in Scandlines for a total of €1.7bn. Markus Stephanblome joined the team from White & Case LLP in December 2017. Counsel Robert John left for Mayer Brown LLP in November 2018.
Antitrust Tier 3
Clifford Chance provides a range of advisory services and is particularly notable for merger controls and antitrust proceedings. Practice head Marc Besen assisted General Electric with merger control law matters relating to the sale of a business division for the manufacture of gas turbines; handled Europcar’s acquisition of Buchbinder; and advised Spectrum Brands on merger control law matters involved in the sale of its battery and torch business to Energizer. In addition, he managed to suspend preliminary antitrust proceedings initiated by the Federal Cartel Office against Saint-Gobain Rigips, concerning allegations of price agreements in the area of insulating materials. Noteworthy highlights in the litigation space included Joachim Schütze and Michael Kremer defending Cargolux Airlines International against follow-on claims for damages from 700 claimants as a result of the airfreight cartel. Other renowned clients include Volkswagen, Audi, Deutsche Telekom, Henkel, L’Oréal and Samsung. Michael Dietrich was a new arrival from Herbert Smith Freehills LLP.
The ‘very good’ team at Clifford Chance focuses on national infrastructure and plant engineering projects and also handles contentious work. Frankfurt-based Stefan Löchner advised a pension fund on the development of an office building in Bavaria, and assisted EC Advisors with construction law matters pertaining to the Petersbogen building project. Düsseldorf-based Michael Kremer assisted a pharmaceutical company with the planning and construction of a plant expansion and new production facilities for a pharmaceutical plant. Kristina Jaeger made partner in May 2018. Siemens and thyssenkrupp are also clients.
Public procurement Tier 4
Healthcare, infrastructure and transport are at the heart of Clifford Chance’s public procurement practice. Counsel Steffen Amelung is the central contact person and, together with Peter Dieners, he assisted the Fund for the Financing of Nuclear Waste Management with the implementation of Europe-wide procurement procedures. Other highlights include advising a consortium of bidders, which also includes T-Systems and Daimler, on the award procedure for the sale of shares in Toll Collect and on a related review procedure. Bayer, GSK and Siemens are other important clients.
Equity capital markets Tier 5
Working in close conjunction with various other departments and with colleagues from the corporate team in particular, Clifford Chance’s ECM practice handles capital increases, IPOs and private placements including international transactions. In the transactional space, the team has particular expertise in US-related work, while its sector focus lies on the segments manufacturing, real estate, finance and energy. In the real estate sector, team head George Hacket advised Godewind Immobilien on its listing on the regulated market of the Frankfurt Stock Exchange, while, in different work, he assisted a banking consortium with the IPO of the German-Spanish recycling company Befesa on the Frankfurt Stock Exchange; the issue comprised of over 14.3 million shares from the holdings of the selling shareholders.
Planning and environment Tier 5
Clifford Chance’s practice group acts on environmental and planning issues in the areas of network expansion, energy and healthcare. A highlight, led by practice head Mathias Elspaß, was advising Amprion on planning and approval issues for a high-voltage direct current transmission line. The group also acts for energy companies on environmental matters pertaining to the construction and operation of liquid gas terminals. It advised Pfizer on environmental compliance obligations regarding the state of technology in production plants. 50Hertz, Huber and TenneT are also part of the client portfolio. The Düsseldorf office was strengthened in May 2018 by the addition of Thomas Voland from Freshfields Bruckhaus Deringer.
Clifford Chance > Firm Profile
The firm: Clifford Chance is one of the world’s pre-eminent law firms, with significant depth and range of resources across five continents. As a single, fully integrated, global partnership, it prides itself on its approachable, collegial and team-based way of working. The firm always strives to exceed the expectations of its clients, which include corporates from all the commercial and industrial sectors, governments, regulators, trade bodies and not-for-profit organisations. It provides them with the highest quality advice and legal insight, which combines the firm’s global standards with in-depth local expertise.
Types of work undertaken:
Capital markets: the capital markets practice concentrates on securities transactions and other products sold into the capital markets. The practice is founded on a full-service US and UK securities law capability, complemented by local securities law expertise in each of the key financial centres. It provides practical, integrated legal advice covering the full spectrum of global capital raising activities including public and private domestic and international offerings of traditional debt and equity securities as well as convertible and other derivative and structured securities.
Corporate: the corporate practice handles some of the world’s largest and most complex M&A transactions. It combines global transaction capability with a full service of English, US and civil law expertise in the key financial centres across Europe, the Americas and Asia Pacific. In addition to mainstream M&A, the firm also encompasses leading specialist practices in: commercial contracts, competition and antitrust, communications, energy, healthcare, financial institutions, funds, investment banking, insurance, media and technology, and private equity.
Finance: Clifford Chance’s finance practice is the leading international finance practice of any law firm. The practice provides highly commercial and practical advice across the full spectrum of financial products including syndicated lending and leveraged and acquisition finance, asset finance, derivative products, project finance, financial regulatory, insolvency, restructuring and structured finance.
Litigation, dispute resolution and risk management: the firm has experience in virtually all segments of the business and financial markets across multiple jurisdictions. The lawyers work with clients to resolve disputes efficiently and effectively – whether through arbitration, litigation or other techniques.
Real estate: Clifford Chance’s leading real estate practice offers UK, European, Asian and US real estate capability. The practice advises the real estate industry’s leading players on the entire property ‘life-cycle’ from the initial acquisition, development, leasing, joint venturing and financing through to the final exit, as well as tax structuring, PFI/PPP, corporate outsourcing, planning, environment and litigation.
Tax, pensions, employment and incentives: Clifford Chance has one of the world’s largest international tax groups within a single law firm. The firm is uniquely placed to provide leading edge advice to clients, and the practice is structured on an integrated global basis. Local tax groups within the practice work closely with areas such as securitisation, securities, M&A, corporate restructuring, private equity, real estate and funds.
The pan-European VAT group advises on all areas of VAT and has particular strength advising on novel and complex issues in the structured finance, financial services, corporate finance and real estate sectors.
The team of experienced employment, employee benefits, ERISA, immigration and pensions specialists work with clients from a wide range of sectors to address local and cross-border issues.
International offices:Abu Dhabi, Amsterdam, Bangkok, Barcelona, Beijing, Brussels, Bucharest, Casablanca, Dubai, Düsseldorf, Frankfurt, Hong Kong, Istanbul, Jakarta*, London, Luxembourg, Madrid, Milan, Moscow, Munich, New York, Paris, Perth, Prague, Rome, São Paulo, Seoul, Shanghai, Singapore, Sydney, Tokyo, Warsaw, Washington, D.C., Riyadh**
*Linda Widyati & Partners in association with Clifford Chance
**Clifford Chance has a co-operation agreement with Abuhimed Alsheikh Alhagbani Law Firm in Riyadh
|Dr Bettina Steinhauer||View Profile|
Staff FiguresNumber of partners : 550 Number of other fee-earners : 3,300
Advice From Women Lawyers
Advice To My Younger Self: Reflections of Successful Women Lawyers
Women lawyers open up about their careers and defining choices
Advice To My Younger Self: Reflections of Successful Women Lawyers is published by The Legal 500‘s GC Magazine in collaboration with Clifford Chance. Now in its second release, the book is a practical resource for anyone interested in charting a successful career path at a law firm or by moving in-house. It features interviews with 20 women partners, alumnae and in-house counsel, with additional contributions from members of Clifford Chance’s senior management and US-based recruiting team. Visit our website to learn more about practical tips for building your career.
RISING LAWYERS open up about their priorities and strategies for success
Their Voices: Insights from Today’s Rising Lawyers by The Legal 500‘s GC Magazine in collaboration with Clifford Chance. Geared primarily for students and junior lawyers, the book is a practical resource for those considering law school or just beginning a legal career. Twenty junior lawyers offer diverse perspectives on what inspires them about the law, and the strategies that are helping them stay in touch with their priorities and define the future of their careers. Their Voices also provides insights for senior lawyers as they mentor the next generation of leaders.
France: Real Estate
Published: November 2019
Authors: Anne-Sophie Plé Karen Bortolotti
This country-specific Q&A provides an overview to Real Estate laws and regulations that may occur in France.
Germany: Real Estate
Published: November 2019
Authors: Dr. Christian Keilich
This country-specific Q&A provides an overview to Real Estate laws and regulations that may occur in Germany.
Spain: Real Estate
Published: November 2019
Authors: Maria Pradillo Carme Briera Fernando Escribano Javier Olabarri Alexandra Borrallo
This country-specific Q&A provides an overview to Real Estate laws and regulations that may occur in Spain.
United Kingdom: Real Estate
Published: November 2019
Authors: Matt Taylor
This country-specific Q&A provides an overview to Real Estate laws and regulations that may occur in United Kingdom.
United States: Real Estate
Published: November 2019
Authors: Ness Cohen Eddie Frastai
This country-specific Q&A provides an overview to Real Estate laws and regulations that may occur in United States.
United Kingdom: Insurance & Reinsurance
Published: August 2019
Authors: Hilary Evenett Amera Dooley
This country-specific Q&A provides an overview to Insurance & Reinsurance laws and regulations that may occur in United Kingdom.
Poland: Insurance & Reinsurance
Published: August 2019
Authors: Marcin Bartnicki Marta Bieniada
This country-specific Q&A provides an overview to Insurance & Reinsurance laws and regulations that may occur in Poland.
Germany: International Arbitration
Published: December 2019
Authors: Dr. Michael J.R. Kremer Dr. Moritz Keller Tim Schreiber
This country-specific Q&A provides an overview to International Arbitration laws and regulations that may occur in Germany.
United Kingdom: Merger Control
Published: December 2019
Authors: Alex Nourry Daniel Harrison
This country-specific Q&A provides an overview to Merger Control laws and regulations that may occur in United Kingdom.
Top Tier Firm Rankings
- Advice to companies
- Healthcare and life sciences
- Investment funds
- Lending and borrowing
- Project finance
- Real estate
- Structured finance and securitisation
- Advice to insurers
- Arbitration (including international arbitration)
- Commercial litigation
- Debt capital markets
- Financial services: litigation
- Financial services: regulatory
- M&A: large deals (€500m+)
- Construction (including construction litigation)
- M&A: mid-sized deals (sub-€500m)
- Public procurement
- Equity capital markets
- Planning and environment