Hengeler Mueller advises the shareholders of Munich Hotel Partners on the contribution of all shares in the company into Lifespot Capital AG
14. June 2021
The shareholders of the independent German hotel investment and hotel management platform Munich Hotel Partners GmbH ("MHP") have entered into an agreement on the contribution of all MHP shares into Lifespot Capital AG ("LSC"), which is listed on the open market of the Munich Stock Exchange. MHP group is one of the leading German hotel providers and has established itself in the acquisition of existing upper-upmarket hotels. MHP currently operates four Le Méridien brand hotels in Hamburg, Stuttgart, Munich and Vienna, as well as the Sheraton Düsseldorf Airport Hotel.
The contribution of the shares in MHP is to take place on the basis of an equity valuation of EUR 59 million. Pursuant to the contribution agreement, current MHP shareholders are to receive EUR 6 million in cash and 33,125,000 new shares in LSC as consideration for the contributed shares. The share component is to be carried out by way of a capital increase against contribution in kind, which the general meeting of LSC has yet to resolve upon.
Hengeler Mueller advised Munich Hotel Partners on the transaction. The team was led by Kai-Steffen Scholz (Corporate/M&A, Berlin) and included partner Markus Ernst (Tax, Munich) as well as associates Ingo Berner, Niclas Bettien (both Corporate/M&A, Berlin) and Tim Würstlin (Tax, Munich).