Hengeler Mueller advises WashTec AG on public share buy-back offer
15. December 2008
WashTec AG, a listed company based in Augsburg and the world market leader in car wash technology, has repurchased about 800,000 shares in the context of a voluntary public share buy-back offer to all shareholders. Due to great demand by shareholders for 4.529.458 shares, allotments were made with a percentage of 17.6 %. Preferential declarations of acceptance have been allotted in full. The offer was structured as a public offer to all shareholders in Germany and in the US. The transaction was executed by UniCredit – Bayerische Hypo- and Vereinsbank AG.
Hengeler Mueller has advised WashTec AG on the share buy-back offer and on the preparation of the offer document. The Hengeler Mueller team included partner Reinhold Ernst (Capital Markets/Corporate) and associate Eike Thomas Bicker (both Düsseldorf).
Hengeler Mueller has been working on this transaction in an Integrated Team with Cravath Swaine & Moore. US legal advice was provided by partner Philip Boeckman and associate Francesco Lione.