On June 15, 2007, the Berlin Senate resolved to sell the State of Berlin’s shareholding in Landesbank Berlin Holding AG to a purchasing organisation of the German Savings Banks represented by the German Savings Bank Association public corporation (DSGV). The purchase price amounts to € 4.622 billion and, in addition, the existing silent participation of the State of Berlin amounting to € 723 million will be redeemed by the acquirer.
Hengeler Mueller advised Landesbank Berlin Holding AG on the entire bank privatisation process (notably the M&A transaction) and on the preparation of the stock-market listing. Advice was provided by partners John Flüh, Kai-Steffen Scholz (both Corporate/M&A), Hendrik Haag (Capital Markets), Wolfgang Spoerr (Regulatory), Hans-Jörg Niemeyer (Competition) and Hermann-Josef Tries (Tax) in addition to associates Alexander Bornemann, Anja Kuhn, Julia Richter, Martin Hollands and Alexander Rang.
With respect to the dual-track preparation of the stock-market listing, an alternative which will no longer be pursued, Hengeler Mueller worked in an integrated team together with the US law firm Davis Polk & Wardwell (John Banes, George Hacket).