Hengeler Mueller advises RWE on appraisal proceedings regarding squeeze-out at Harpen
08. May 2017
On 6 April 2017 the Higher Regional Court of Düsseldorf decided that the cash compensation for the former minority shareholders at Harpen Aktiengesellschaft, Dortmund, has to be EUR 20.41 per share. The appraisal proceedings regarding the squeeze-out were ongoing since 2005. The EUR 3.17 reduction by the Higher Regional Court against the former decision of the Region Court of Dortmund on 22 July 2015 due to the retrospective application of the valuation standard IDW S1 2005. The standard was not effective at the time the squeeze-out resolution took place on 15 October 2004. The Higher Regional Court of Düsseldorf implemented the decision by the Federal Court of Justice (II ZB 23/14) regarding the intertemporal applicability of valuation standards on 29 September 2015.
Hengeler Mueller advised RWE AG on the proceedings. The Hengeler Mueller team included partner Hartwin Bungert as well as counsel Petra Mennicke (both Corporate, Düsseldorf).