News

Hölters & Elsing Advises on a PPP Pilot Project for the German Aerospace Centre (DLR)

Frankfurt, April 21, 2008

The German Aerospace Centre (DLR), as the research centre of the Federal Republic of Germany for aerospace, maintains the seat of its management board at its place of business in Cologne as well as the central administration, located upon approximately 55 hectares, many scientific and technological facilities and large test facilities with a total of almost 1,500 employees. These include, among others, the institutes for propulsion technology, aerospace medical science, material physics in outer space, technical thermodynamics, solar research, material research, wind tunnels as well as the astronaut centre of the European Space Agency (ESA). In addition to the site in Cologne, the DRL maintains 12 other sites. The DLR management board is considering the long-term integration of private partners in the further infrastructural development involving facility management and, for this reason, plans a PPP pilot project for the site in Cologne.

As a result of a European-wide procurement procedure Hölters & Elsing was chosen as advisor together with the project and management consulting firm EC Harris GmbH and Alfen Consult GmbH, which specializes in PPP projects. The assignment which is valid until the end of 2009 encompasses not only a feasibility study but also the accompanying counselling in a subsequent award procedure for the choice of PPP partners.

Hölters & Elsing advises Murphy&Spitz Green Capital AG on its investment in CTF Solar AG

Düsseldorf, March 7, 2008

The private equity company Murphy&Spitz Green Capital AG, which focuses on investments into renewable energy and prime products, has acquired a 22.5% stake in CTF Solar AG. CTF Solar AG will build a production line for cadmium telluride (CDTe) thin film solar panels. The CDTe-technology has considerable cost advantages over the still dominant silicon technologies.

Hölters & Elsing has advised Murphy&Spitz Green Capital AG in their contractual arrangements with the founders by partner Olaf Müller-Michaels from the Düsseldorf office.

Hölters & Elsing assists the Dieckmann Group in the divesting of their sugar-beet seed business

Düsseldorf, March 7, 2008

As a consequence of the European sugar market reforms, the Strube and Dieckmann companies are concentrating their sugar-beed seed business after 40 years of successful cooperation. The Strube group is acquiring the sugar-beet seed business of its cooperation partner Dieckmann. A contract was signed by the owners Sina Isabel Strube and Johannes Dieckmann at the end of February. The Dieckmann Group will shift its focus to the growing and distributing of hybrid-rapeseed, wheat, barley and rye seed. This business has been considerably strengthened by the acquisition of the renowned "Carsten" varieties in July 2007.

Hölters & Elsing has advised the Dieckmann Group on the divesting of their sugar-been seed business as well already earlier on their acquisition of the "Carsten" activities. Responsible is partner Olaf Müller-Michaels from the Düsseldorfer office.

Hölters & Elsing advised KNM Process Systems Sdn. Bhd. on the Acquisition of Borsig-Group

Düsseldorf, March 5, 2008

Hölters & Elsing advised KNM Process Systems Sd. Bhd. (KNM), a wholly owned subsidiary of KNM Group Berhad (Malaysia), on the acquisition of the long-established Borsig-Group. KNM acquired from capiton Kapitalbeteiligungsverwaltungsgesellschaft mbH (capiton) and other shareholders the entire equity interest in Borsig Beteiligungsverwaltungsgesellschaft mbH for a total cash consideration of EUR 350 millions. The transaction is conditional upon approval by the shareholders of KNM and upon approval of competent antitrust authorities if applicable.

Borsig-Group has a long tradition in Germany and was established in Berlin in the year 1837. In 2002 Borsig had through no fault of its own to file for insolvency proceedings, caused by the insolvency of its parent company Babcock-Borsig. Today Borsig develops and manufactures process gas waste heat recovery systems and scraped surface exchangers for the chemical and petrochemical industry as well as compressors and membrane technologies for the oil and gas industry. Moreover Borsig provides power plant engineering and maintenance services as well as engineering and manufacturing of industrial boilers. For the fiscal year 2008 Borsig expects a turnover of approximately EUR 269 millions.

capiton is a wholly owned subsidiary of capiton AG, an independent and owner-operated Private Equity Company, which controls a fund with a volume of approximately EUR 436 millions. In May 2003 capiton became shareholder of Borsig together with the management of Borsig by way of a MBO. During the last years capiton and the management continuously improved the situation of the Group, so that the turnover increased from EUR 47 millions to EUR 160 millions for the year 2007. Also the number of employees increased from 250 to 460 during this period.

KNM-Group is a leading process equipment manufacturer for the oil, gas, petrochemicals, minerals processing and renewable energy industries worldwide. The Group is listed on the Main Board of Bursa Malaysia Securities Berhad and currently shows a market capitalization stands of approximately 6.4 billions Malaysian Ringgit. KNM-Group has production facilities in Malaysia, Australia, Italy, China, the United Arab Emirates, Indonesia, Brazil and Canada.

KNM was advised in this transaction by the Partners Dr. Stefan Weinheimer as Lead Counsel, Konstantin Heitmann (Corporate/M&A, Düsseldorf), Dr. Holger Franz (Real Estate, Düsseldorf) and the Associates David Reiser, Carola Iwand and Uta Hildebrandt (all Corporate/M&A, Düsseldorf), Annette Schmucker, Dr. Verena Sonnenwald (all Real Estate, Düsseldorf), Michael Bogati, Dr. Ulrich Wahlers (all Labor Law, Düsseldorf) as well as by the Partner Dr. Andrés Martin-Ehlers (Antitrust, Frankfurt) and the Associates Dr. Sebastian Strohmayr (Antitrust, Frankfurt), Dr. Stefan Renner (Corporate/M&A, Frankfurt) and Dr. Boris Börsch (IP, Berlin).

capiton and the management of Borsig were advised in the transaction by the Partners Dr. Jan-Peter Heyer, Dr. Andrea Reichert-Clauß and the Associate Boris Reschucha of Bräutigam & Partner, Berlin.

EXPO REAL 2008

Berlin, Düsseldorf, Frankfurt am Main, March 27, 2008

From October 6 - 8, 2008, the EXPO REAL, the most important German Real Estate Fair with a strong international profile will take place in the New Munich Trade Fair Centre. As usual, Hölters & Elsing participates as a partner of the City of Düsseldorf on its Stand “Düsseldorf & Partners”.

You can find further information concerning EXPO REAL following this Link and concerning the Düsseldorf Stand please follow this Link.

MIPIM 2008

Berlin, Düsseldorf, Frankfurt am Main, February 27, 2008

From March 11 - 14, 2008 the most important international real estate congress, MIPIM (Marchéé International des Professionnels d′Immobilier), will take place for the nineteenth time at the Palais des Festivals in Cannes, France.

The independent law firm Hölters & Elsing participates again as supporting local partner of the regional capital Düsseldorf at the "rheincity düsseldorf + partner" stand.

For further information regarding MIPIM, please follow this Link

Mumme Personaldienstleistungen onwards growing with Hölters & Elsing

Düsseldorf, January 28, 2008

By acquiring the east-Bavarian temp-work company Gürster + Hagen Mumme Group extends its presence in Southern Germany. Again Hölters & Elsing acted for the highly expansive, recruitment service provider in Koblenz.

The recent purchase adds offices in Regensburg, Straubing and Wackersdorf in Upper Palatinate to the already existing offices in Aschaffenburg and Würzburg.

All 500 staff members and temp-workers of the regionally well positioned acquired business were transferred in line with the transaction which was structured as share deal.

Konstantin Heitmann as Lead Counsel (M&A / Corporate) and Dr. Ulrich Wahlers (Employment Law) attended the transaction. The team already acted for the Mumme-Group in connection with the purchase of the assets of ISM Personal-Service GmbH and Project-Zeitarbeit GmbH, both located in Berlin and Stiefel Personal Partner GmbH in Gelnhausen, Hesse last year.

Rainer Kreifels (Corporate) of MLawGroup (Munich) lead the advising team for Gürster + Hagen. He was supported by Diana Massa (Corporate) and Manfred Schmid (Employment).

Hölters & Elsing advises Pfizer on the take-over of Coley Pharmaceutical Group

Düsseldorf, January 14, 2008

Pfizer Inc. (USA) has successfully closed its takeover offer for the NASDAQ listed publicly held Coley Pharmaceutical Group Inc. for an offer price of US$ 8.00 per outstanding share, representing an enterprise value of US$ 164 million. By virtue of a subsequent merger Pfizer took over 100% of Coley Pharmaceutical Group Inc.

Coley is engaged in the research and development of biopharmaceutical products and specializes, in particular, on immunomodulatory drug candidates designed to fight cancer, allergy, asthma disorders and autoimmune diseases. Coley employs 140 employees in three separate corporate entities in the USA, Canada and Germany (40 employees).

In the USA, Pfizer was advised by Covington & Burling LLP and Lazard Frères. Hölters & Elsing advised Pfizer in connection with all issues in relation to the German group entity Coley GmbH. The Dusseldorf partner Dr. Oliver Duys (corporate / M&A) acted for Hölters & Elsing. Dr. Ulrich Wahlers provided support in relation to employment law issues.

Hölters & Elsing advises EADS and Thales on the transfer of a joint venture to the MBDA Group – the World Leading Missile Systems Group

Düsseldorf, January 7, 2008

EADS and Thales transfer their German-French joint venture Bayern-Chemie (Aschau/Inn, Germany) / Protac (La Ferté Saint Aubin, France) to the MBDA-Group. This transaction results in another consolidation of the European missile system industry under the leadership of the MBDA-Group – the World Leading Missile Systems Group. The MBDA-Group is a joint venture of EADS, BAE SYSTEMS und Finmeccanica.

Bayern-Chemie / Protac develops in particular the missile propulsion system for the METEOR rocket program which is designed for the Eurofighter and Rafale and generates an annual turnover of Euro 50 million with approximately 300 employees.

The long-lasting client relationship with Thales proved to be the door opener for Hölters & Elsing’s first mandate for EADS.

Dr. Oliver Duys as lead counsel as well as Dr. Wilhelm Nolting-Hauff (both Hölters & Elsing Düsseldorf) acted for EADS and Thales. Dr. Marianne Helm, Dr. Daniel von Wild (both EADS, Paris), Edward Nida and Luc Michoud (both Thales, Paris) were involved inhouse.

MBDA was advised by Dr. Axel Epe, Dr. Ferdinand Fromholzer und Dr. Jana Hammerschmidt from Freshfields Bruckhaus Deringer accompanied by the Inhouse-Team Maria-Luisa Prosperi and Dr. Jörg Hartmann

Ruhr University Bochum: First North Rhine-Westphalian PPP-project on universities scheduled. Hölters & Elsing participating in feasibility study

Frankfurt am Main, December 18, 2007

Ruhr University Bochum is considering whether the realisation of a Public Private Partnership is feasible. In combined efforts, Hölters & Elsing, engineering consultants Assmann and Weimar-based Alfen Consult have carried-out a feasibility study, which comprehensively examines the technical, commercial, legal and capital market-related aspects of this project. The German State of North Rhine-Westphalia is overseeing this project as a statewide pilot scheme.

Dr. Peter Braun as lead counsel was supported by Dr. Sebastian Strohmayr, Dr. Solveig Haß and Nicole Morscheid.

Services concession agreement on Oktopus spa in Siegburg signed: Spa Operator s.a.b. successful with Hölters & Elsing in Europe-wide award procedure

Frankfurt am Main, December 18, 2007

The Corporation on Urban Development of the city of Siegburg (Stadtentwicklungsgesellschaft – SEG) in a Europe-wide award procedure has awarded to Friedrichshafen-based spa operator s.a.b. Bodensee GmbH & Co. KG (s.a.b.) a Services Concession Agreement. Hölters & Elsing has successfully advised the bidder s.a.b. not only during the award procedure but also with regard to the negotiations on the Agreement – the latter will be running for 25 years. Being one of Europe’s leading operators of swimming pools (SPA and sporting), s.b.a. will also build a diving tower of 30 metres depth.

Lawyers on this project were Dr. Heiko Höfler as Lead Counsel (Finance), Dr. Solveig Haß and Dr. Peter Braun (Procurement Procedure) as well as Dr. Hans von Gehlen (Project Contracts).

Hölters & Elsing advised Teesland iOG on launching the € 2 billion real estate investment fund “German Aktiv Property Fund”

Berlin, December 7, 2007

The fund and asset manager Teesland iOG, a long-time client of Hölters & Elsing and part of the Australian Valad Property Group, has launched a real estate investment fund for mixed use commercial real property in Germany. The “German Aktiv Property Fund” will focus on properties in major German urban areas with commercial mixed use, industrial and logistics real property as well as office buildings. To this, the fund is intended to grow to an aggregate of € 2 billion within the next two years. The first subscription for shares has already been closed successfully. The fund started with a seed portfolio of 57 real properties with a value of approximately € 800 million.

Hölters & Elsing advised the fund in this transaction regarding all questions of German law, particularly real estate, corporate and finance. The team from the Berlin office of Hölters & Elsing was lead by partner Dr. Norbert Impelmann with associates Dr. Albrecht von Breitenbuch, Dr. Jochen Beutel, Isabelle Menn and Dr. Peter Zsernaviczky.

Hölters & Elsing strengthens its office in Frankfurt

Frankfurt am Main, December 3, 2007

From 1 December 2007, Dr. Ralf Ek moved to the Frankfurt office of Hölters & Elsing to further expand its M&A/Corporate practise. Dr. Ralf Ek worked for the Berlin office of Hölters & Elsing since 1997 and became partner in 2001.

He mainly advises in the field of corporate law with a special emphasis in assisting publicly listed companies in the preparation and implementation of their shareholders’ meetings as well as advising against actions of opposition. In addition, Dr. Ralf Ek is also admitted as “Advokat” in Sweden and for many years has been advising investors from Scandinavian countries regarding their commitments and activities in Germany.

Hölters & Elsing Advises the Federal Republic of Germany on DB AG Real Estate Spin-off

Düsseldorf, October 22, 2007

In August 2007 Deutsche Bahn AG and all holding railway infrastructure and railway traffic companies in conjunction with the Federal Government signed a spin-off agreement, according to which all real estate assets of the holding company will be assigned to its subsidiaries.

DB Netz AG which is responsible for the railway system obtains the majority of the properties. According to the financial statement of DB AG the book value of its real estate amounts to € 3 billion. Moreover, real estate holding Aurelis GmbH & Co. KG will be transferred to DB Station & Service AG.

The transaction is one of the largest for the past years.

Through this agreement the railway reform level 2 of 1998 is going to be finalized. At the same time, it is going to be a milestone on the way to the partial privatization of the German railways. Within the framework of preparation for the partial privatization of DB AG, Hölters & Elsing represented the Federal Ministry of Transport, Building and Urban Affairs in the spin-off of the DB AG’s real estate.

Principal lawyers who worked on this transaction are partners Dr. Wolfgang Hölters (lead management), Dr. Olaf Müller-Michaels and Dr. Carsten Pospich (all Corporate/M&A, Düsseldorf) as well as Dr. Andrés Martin-Ehlers (EU Law) and associates Dr. Markus Weber, Dr. Johannes Wecker (Corporate/M&A, Düsseldorf) and Dr. Rolf Kinner (Corporate/M&A, Frankfurt).

Hölters & Elsing advised Rutley European Property Limited on acquisition of an international real estate portfolio from APO-Bank

Berlin, October 17, 2007

The British public fund Rutley European Property Limited was advised by Hölters & Elsing once again in its most recent acquisition. Subject of the transaction was an international real estate portfolio of properties located in Germany, France and The Netherlands. Rutley European Property Limited has expanded its European real estate portfolio in the three countries further. The portfolio consists of 19 individual properties mainly in Dusseldorf, Cologne, Munich, Potsdam, Bochum as well as Paris, The Hague and Amsterdam. The buildings with a total lettable floorspace of about 79,000 sqm in attractive city centre locations are mainly let as office and retail space. The parties agreed to keep the purchase price confidential.

The properties were sold by APO Immobilien-Kapitalanlagegesellschaft mbH (aik), an investment vehicle of Deutsche Apotheker- und Ärztebank in Dusseldorf. The transaction was closed successfully in the first week of October in all jurisdictions.

In respect of both the acquisition and its financing the purchaser was advised by partner Dr. Norbert Impelmann (Lead Counsel) together with associates Dr. Albrecht von Breitenbuch (Finance) as well as Dr. Jochen Beutel, Isabelle Menn and Dr. Peter Zsernaviczky (all Real Estate) from Hölters & Elsing’s Berlin office.

Hölters & Elsing advises shareholders of Wirth Maschinen- und Bohrgeräte-Fabrik GmbH in connection with the sale of shares to Aker Kværner

Düsseldorf, September 11, 2007

Hölters & Elsing has advised the managing shareholders during the process of the acquisition of a shareholding by the Norwegian Aker Kværner Group in Wirth Maschinen- und Bohrgeräte-Fabrik GmbH, Erkelenz. Aker Kværner has acquired 50% of the shares of the company and an option to buy the remaining shares within the next years.

Wirth is one of the leading manufacturers of equipment and machinery for mining, foundation and infrastructure projects. Furthermore, Wirth is holding a significant position in the international markets for energy and water supply. The company develops, manufactures and distributes since 110 years successfully machinery and drilling technologies for numerous tasks in these areas. In 2006 Wirth generated with about 650 employees worldwide a turnover of approximately EURO 140 mill. with an export ratio of nearly 90%.

The two managing directors and shareholders of Wirth have been advised by Dr. Wilhelm Nolting-Hauff as Lead Counsel and Dr. Karsten Faulhaber and Dr. Nicholas Kessler from the Düsseldorf office of Hölters & Elsing.

Hölters & Elsing advised IKB Equity Finance GmbH on the Acquisition of the alu-druckguss GmbH & Co. Brandenburg KG

Düsseldorf, September 10, 2007

Hölters & Elsing advised IKB Equity Capital Fund I GmbH & Co. KG - a Direct Equity Fund managed by IKB Equity Finance GmbH - on acquiring stakes in alu-druckguss GmbH & Co. Brandenburg KG and the alu-druckguss Sp Zo. o. (Nowa Sol, Poland). The parties agreed on confidentiality with regard to the scope and size of the investment, which was structured as a capital increase in connection with a share deal. Meanwhile the transaction is completed. The fresh capital of the IKB Equity Capital Fund I GmbH & Co. KG now gives alu-druckguss-Group substantial capacity to grow and restructure bank debts on a long-term basis.

Seated in Brieselang the alu-druckguss GmbH & Co. Brandenburg KG is with its 290 employees the biggest entrepreneur in the East-German Havelland District. The three locations of the Group in Brieselang, Berlin and Nowa Sol, with their 450 Employees generate a turnover of 42 million Euro by producing engine- and gearbox-parts for the automotive industry.

IKB Equity Finance GmbH is a mediate 100% Subsidiary of IKB Deutsche Industriebank AG - the market leader in financing the German Mittelstand - and acts in market as an independent Private Equity Firm. IKB Equity Finance GmbH concentrates all activities of the Direct Equity Business of the IKB-Group and has fundamental know-how and expertise especially in the automotive supply-, medicine technology-, plastics- and machinery sector as well as in the field of transportation and logistics.

During the Transaction the IKB Equity Finance GmbH has been advised by the Partners Dr. Stefan Weinheimer as Lead Counsel and Konstantin Heitmann and Associate David Reiser (all Corporate/M&A, Hölters & Elsing, Düsseldorf) as well as the Partner Dr. Andrés Martin-Ehlers and Associate Dr. Sebastian Strohmayr (both Competition, Hölters & Elsing, Frankfurt am Main).

Hölters & Elsing advised Rutley European Property Limited on acquisition of a real estate portfolio

Berlin, August 1, 2007

Hölters & Elsing has advised Rutley European Property Limited on the acquisition of a real estate portfolio with a total value of over € 100m. The portfolio consists of 17 different retail properties which are currently fully let to food and other retail shops. With this acquisition Rutley European Property Limited can once again enlarge her existing retail portfolio. The portfolio was sold by several closed end funds of individual private investors.

Rutley European Property Limited was incorporated in 2005 as a fund investing in European real estate and listed on the London Stock Exchange. It is managed by Rutley Capital Partners L.L.P. which is the real estate private equity business of Knight Frank L.L.P., the leading global property consultancy.

Since entering into the German real estate market in 2006, Rutley European Property Limited has been advised by Hölters & Elsing. The acquisition and its financing were advised by Dr. Albrecht von Breitenbuch (Lead Counsel, Berlin) with Dr. Benedikt Burger, Dr. Stefan Renner and Lena Kühnbach (all Frankfurt).

Hölters & Elsing Advises Numisma Group in Connection with the Acquisition of the Real-Property Portfolio of the Distributa Group

Düsseldorf, July 27, 2007

Hölters & Elsing has acted as legal counsel to Numisma, a joint venture of the Pervaiz Naviede Family Trust (PNFT) and Stenham Group, in connection with the acquisition of the real-property portfolio of the Distributa Group. By this transaction, the total value of real-property investments by Numisma in Germany and in Switzerland has crossed a threshold of 1 billion Euro.

The Distributa portfolio comprises a total of 33 properties, consisting of DIY and food retail outlets as well as office space in the States of Saarland, Rhineland Palatinate and Baden- Württemberg. Numisma won the contract for the acquisition of the portfolio within an auction process. The parties have agreed to keep the purchase price confidential. The sale of the Distributa portfolio occurred simultaneously with the unbundling and the sale of the entire operative business of the Distributa Group to operational buyers.

With regard to the transaction and its financing, Numisma was advised by the partners Dr. Michael Alberts (lead counsel), Dr. Christoph F. Wetzler (corporate/M&A/banking), Dr. Carsten Pospich (tax) and Dr. Holger Franz (real estate) as well as the associates Annette Schmucker (real estate), Dr. Verena Sonnenwald (real estate), Dr. Ulrich Wahlers, Dr. Stefan Renner (corporate/M&A/banking) and Dr. Rolf Kinner (corporate/M&A/banking).

Pilot scheme in road construction goes to Bilfinger Berger Verkehrswegebau GmbH: Hölters & Elsing successful in procurement review procedure

Frankfurt am Main, July 25, 2007

Hölters & Elsing successfully represented Bilfinger Berger Verkehrswegebau GmbH in a procurement review procedure before the First Review Chamber of the Federal State of Hessen. In this pilot scheme, the Federal Republic of Germany, represented by the regional road construction office, tendered out the construction and 30 years of maintenance of a section of the B3 federal road as a function contract.

A competitor had taken legal action against the intention of the road construction office to award the contract to Bilfinger Berger Verkehrswegebau GmbH. However, the request of the competitor in a procurement review procedure before the Review Chamber to obtain the contract himself was without success.

Bilfinger Berger Verkehrswegebau GmbH was represented before the Review Chamber as an interested party by Dr. Heiko Höfler and Dr. Magnus Noll-Ehlers, both with Hölters & Elsing in Frankfurt am Main.

Hölters & Elsing advises Virtek Vision on the Acquisition of the remaining
25% interest of FOBA Technology & Services GmbH

Düsseldorf, July 4, 2007

The Canadian Virtek Vision International Inc., a leading developer and provider of high-value industrial laser solutions, announced that it now owns 100 percent of its German subsidiary, FOBA Technology & Services GmbH, following the purchase of the remaining 25 percent interest in the Marking & Engraving products and systems company. Hölters & Elsing advised Virtek Vision on both acquisitions.

With the complete takeover Virtek Vision follows its strategy to focus on the Marking & Engraving market.

Since the initial investment in FOBA four years ago, Virtek was able to broaden its product line and customer base, and begun to penetrate new markets both in terms of sectors and geographically. FOBA’s products are now sold around the world, including North America and most recently in Asia.

Virtek Vision was advised in this transaction by the partners Dr. Stefan Weinheimer and Konstantin Heitmann, LL.M.

Hölters & Elsing advised the Irish Cornerstone Capital Management Ltd. on the Acquisition of a Portfolio of Commercial Properties from the Alliance Group

Düsseldorf, May 10, 2007

Hölters & Elsing advised Cornerstone Capital Management Ltd. from Dublin, Ireland, on the aquisition of a portfolio of twelve commercial properties from the Allianz Group. Cornerstone acquires the portfolio through its Luxembourg subsidiaries

The acquisition of the portfolio is the first step for the set-up of a special fund containing commercial properties in Germany. Cornerstone undertakes developments and sets up real estate funds. The focus is Europe and here especially Germany

Cornerstone acquired the portfolio in an auction process. The parties agreed confidentiality with regard to the purchase price.

During this transaction Cornerstone has been advised by the partners Dr. Michael Alberts (Lead Counsel) and Dr. Carsten Pospich (Tax) as well as the associates Dr. Peter Vocke (Real Estate), Annette Schmucker (Real Estate) from the Düsseldorf office as well the partner Dr. Christoph Wetzler (Corporate/M&A/Finance) from the Frankfurt office. The Sellers have been advised inhouse.

Hölters & Elsing advised on the development of the "Lookentor", a € 75 Mio. Shopping-Center-Project in Lingen

Düsseldorf, May 10, 2007

Hölters & Elsing advised the private investor Hermann Klaas on the development and construction of the shopping-mall "Lookentor" in Lingen, Germany.

The "Lookentor" opened on March 22, 2007 after a building period of only twelve months. The project contains a 22.000 sqm sales area with more than 50 retail and gastronomy units. It is the biggest inner-city shopping-mall in the nothern part of Germany, Emsland. The investment magnitude was about EUR 75 million, of which EUR 15 million accounts for tenants fit outworks.

The lawyers of Hölters & Elsing handled the legal project management and negociated and prepared the tender specifications, as well as legal documents and required contracts. Hölters & Elsing also provided the legal advice during the construction period, including the claims-management

The investor was advised by partner Dr. Michael Alberts together with the building law specialist Boris Waldheim.

PPP Pilot Project „City-Revier Wiesbaden“ of the State of Hesse successfully launched with Hölters & Elsing

Frankfurt am Main, April 25, 2007

The State of Hesse commissioned Hölters & Elsing to provide comprehensive legal advice in the first Public Private Partnerships of the State Public Authority. After a European-wide awarding procedure that lasted for a period of eighteen months, the contract was awarded to the successful bidder on April 25, 2007 by the State of Hesse and the City of Wiesbaden. A consortium, lead by Nassausiche Heimstätte, will now have the new administration building„City-Revier Wiesbaden“ constructed at the Platz der deutschen Einheit in Wiesbaden in which - among others - from 2009 the 1. Police Station will also be accommodated. The investor then operates the administration building for a period of thirty years. Further information regarding this project is provided by the Official Press Release of the Ministry of Finance of the State of Hesse or in the overview of PPP Pilot Projects of Hesse which is available here (both in german only).

The State of Hesse was advised by Dr. Hans von Gehlen as Lead Counsel, Dr. Heiko Höfler regarding public procurement law, Dr. Christoph F. Wetzler in financing issues as well as Dr. Peter Braun and Dr. Solveig Haß, from Hölters & Elsing in Frankfurt am Main.

Hölters & Elsing advised HSH N Kapital GmbH on the acquisition of Siemens Building Technologies electronic GmbH

Frankfurt am Main, April 10, 2007

Hölters & Elsing successfully advised the Private Equity Company HSH N Kapital GmbH on the acquisition of Siemens Building Technologies electronic GmbH (SBTe) from the swiss-based Siemens-Branch Building Technnologies.

Seated in Mühlhausen (Thuringia) SBTe has around 130 empolyees and develops and produces instruments and systems for measuring consumption data in residential and industrial buildings. The participation of the management in the company shall ensure the continuation of the firm's positive development. The purchase price of the transaction, which still stands under the condition of approval by the cartel authority, is bound to secrecy between the parties.

HSH N Kapital is a fully owned subsidary of HSH Nordbank AG and independently acts in the market as a Private Equity Company. HSH N Kapital was advised in this transaction by the partners Dr. Stefan Weinheimer, as Lead Counsel, and Konstantin Heitmann, LL.M., and the associates David Reiser und Dr. Christiane Kutscha, LL.M. oec. (all Corporate/M&A, Düsseldorf), as well as by the partners Dr. Christoph F. Wetzler in financing matters and Dr. Andrés Martin-Ehlers in the field of cartel law (both Frankfurt am Main) and associate Dr. Boris Börsch (IP/IT) from Berlin.

Hölters & Elsing counsels Lumberg in connection with the sale of the Automation branch

Düsseldorf, April 2, 2007

Hölters & Elsing extensively counselled the Lumberg Group in connection with the sale of its Automation Business to Belden Deutschland GmbH. Belden will take over the national and international business of Lumberg Holding GmbH & Co, KG’s Lumberg Automation GmbH and its foreign subsidiaries which comprises more than 400 employees.

The acquisition of the Automation Business will give Belden access to the expanding sector of automation technology in Germany, Europe and overseas. The Automation Division develops and distributes high-class connectors and components for automation technology. With the contract being awarded to Belden, one of the worldwide leading manufacturers of signal transmission products has won. The purchase price of the transaction, which still stands under the condition of approval by the cartel authority, is bound to secrecy between the parties.

During the transaction the Lumberg Group was counselled by Hölters & Elsing’s Düsseldorf partners Dr. Stefan Weinheimer, as lead counsel, and Konstantin Heitmann, LL.M., together with the associates Johannes Wecker and Uta Hildebrandt (all Corporate/M&A) as well as Hölters & Elsing’s Frankfurt partner Dr. Christoph Wetzler (Corporate/M&A).

Hölters & Elsing advises Mahindra & Mahindra on Automotive Investment in Schöneweiss Group

Düsseldorf, March 20, 2007

Through the acquisition of Schöneweiss & Co. GmbH and Fried. Hünninghaus GmbH & Co. KG, Indian industry conglomerate Mahindra & Mahindra has completed further important reinforcements of its automotive activities in Germany. As a strategic partner of the automotive industry, Schöneweiss manufactures drop forgings from all current steel qualities. Since years, Schöneweiss has focused upon production and development of ready-to-build-in modules and components. The company maintains production sites in Hagen and Gevelsberg.

With sales of approximately US$ 4 billion, the stock exchange listed Mahindra group belongs to the top ten industry conglomerates in India. Mahindra & Mahindra is the largest manufacturer of light tractors worldwide and market leader in SUVs in India, further one of the largest manufacturers of light-duty commercial vehicles.

Wilhelm Nolting-Hauff, Karsten Faulhaber and Oliver Duys advised Mahindra & Mahindra on this transaction.

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