Hengeler Mueller advises Atlas Mara on voluntary takeover offer to ADC shareholders

31. March 2014

Atlas Mara Co-Nvest Limited (Atlas Mara) has announced that it has reached agreements to acquire a majority of ABC Holdings Limited and that it has entered into an agreement with ADC African Development Corporation AG (ADC) to make a voluntary public takeover offer (by way of an exchange offer) for all outstanding ADC shares. The consideration being offered by Atlas Mara in the transactions equates to approximately USD 265 m in cash and Atlas Mara shares (depending on acceptance level).

London listed Atlas Mara was formed by Atlas Merchant Capital LLC, led by Bob Diamond, and Mara Group Holdings Limited, led by Ashish J. Thakkar. ADC is a German open market listed, emerging pan-African banking group with a strong footprint in Southern Africa via BancABC. ABC Holdings Limited is the parent company of a number of banks operating under the ABC brand in Southern Africa.

Hengeler Mueller is advising Atlas Mara. The Hengeler Mueller team is led by partner Alexander Nolte and includes partners Bernd Wirbel (both M&A), Oliver Rieckers (Corporate) (all Düsseldorf), Sven Henrik Schneider (Banking, Frankfurt) and Alf Bischke (Antitrust, Düsseldorf) as well as the associates Matthias Cloppenburg, Henrik Humrich (both Corporate/M&A, Düsseldorf) and Julia Rost (Banking, Frankfurt).