Hengeler Mueller advises LBBW on sale of LBBW Immobilien GmbH
15. February 2012
The Board of Managing Directors and the Supervisory Board of Landesbank Baden-Württemberg (LBBW) have decided on the sale of LBBW Immobilien GmbH and its 21,000 housing units to an investor consortium led by Patrizia Immobilien AG. The purchase price amounts to EUR 1.435 bn. The sale is in fulfilment of a requirement under the state aid proceedings of the European Commission against the Federal Republic of Germany.
Hengeler Mueller advised LBBW in the separation of its commercial real estate business from its housing business and the subsequent sale of its housing business in a bidding process.
The Hengeler Mueller team included partners Thomas Müller, Georg A. Frowein (both M&A/Real Estate/Corporate), Ralph Defren (Financing), Ernst-Thomas Kraft (Tax), Hans-Joachim Liebers (Employment) (all Frankfurt), Hans-Jörg Niemeyer (State Aid, Brussels) and counsel Peter Dampf (Financing) as well as associates Andreas Hoger, Peter Wehner,
Daniela Boening (all Frankfurt) and Malte Rosenberg (Brussels).