Hengeler Mueller advises HeidelbergCement on combined capital increase and placement of old shares

24. September 2009

HeidelbergCement has successfully implemented a combined placement of new shares through a subscription rights capital increase and private placement of old shares belonging to the previous major shareholder. On 22 September 2009, the subscription price for the 62.5 million new shares from the capital increase 2009 and the offer price for the preceding private placement of the new shares solely with qualified institutional investors were determined at € 37 per share. The company will receive net proceeds of approximately € 2.25 billion from the capital increase. Combined with the placement of approx. 57 million old shares, providing for a total transaction volume of some 4.4 billion, this is the largest share placement to take place in the last few years.

Hengeler Mueller is advising HeidelbergCement on this transaction. The Hengeler Mueller team includes partners Wolfgang Gross, Daniela Favoccia (both Capital Markets/Corporate, Frankfurt), Martin Klein (Tax, Frankfurt) and Thomas Schmidt-Kötters (Regulatory, Düsseldorf) as well as associates Dirk Reidenbach, David Barst, Andreas Stoll, Bastian Grimm, Matthias Scheifele, Manuel Zandt (all Frankfurt), Simeon Held and Peter Kuhn (both Düsseldorf).

Hengeler Mueller is working on this transaction in an integrated team together with the US law firm Davis Polk & Wardwell (partner: Patrick S. Kenadjian), which is providing advice on US law aspects.

Responsible for this transaction within HeidelbergCement’s in-house legal department are Ingo Schaffernak (General Counsel) and Heiner Rohr (Regulatory).