Freshfields leads on Deutsche Bahn IPO
Freshfields Bruckhaus Deringer is advising German state-owned rail operator Deutsche Bahn on the initial public offering (IPO) of its mobility and logistics business in a deal valued at around €5bn (£3.94bn). The City giant is advising Deutsche Bahn on the partial privatisation of what is Germany's last major state-owned enterprise, with the stake set to be listed on the Frankfurt Stock Exchange representing a 24.9% share of the group.
May 01, 2008 at 10:48 AM
2 minute read
Freshfields Bruckhaus Deringer is advising German state-owned rail operator Deutsche Bahn on the initial public offering (IPO) of its mobility and logistics business in a deal valued at around €5bn (£3.94bn).
The City giant is advising Deutsche Bahn on the partial privatisation of what is Germany's last major state-owned enterprise, with the stake set to be listed on the Frankfurt Stock Exchange representing a 24.9% share of the group.
If successful, the placing would be the first IPO to be completed in Germany this year.
The Freshfields team is being led Frankfurt-based corporate partner Thomas Buecker and finance partners Andreas Koenig and Christoph Gleske.
Other partners involved include Mark Strauch (capital markets); Angela Hildebrand (intellectual property); Jochen Lessmann (employment); and Gerhard Wiedemann (competition).
Freshfields has advised Deutsche Bahn, which has annual revenues of around €31bn, numerous times in the past. The elite City firm acted on its 2002 acquisition of logistics company Stinnes/Schenker in a deal that was valued at €2.5bn (£2bn) and on its later sale of chemical distributor Brenntag, valued at €1.4bn (£1.1bn), to private equity firm Bain Capital.
Magic circle rival Clifford Chance (CC) has also bagged a role on the latest deal and is advising the German finance ministry, with banking partner Markus Pfueller, corporate finance partner partner Thomas Gasteyer and restructuring partner Heinz-Guenther Gondert all involved.
Independent German firm Hoelters & Elsing is acting on behalf of the Ministry of Transport.
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