US Duo Acting Alongside Noerr on €900M SoftBank Deal
The deal will see German payments company Wirecard form a strategic partnership with SoftBank.
April 25, 2019 at 05:50 AM
2 minute read
Gibson Dunn & Crutcher, Sullivan & Cromwell and Noerr have taken lead roles on the €900 million investment by Japanese tech mega-fund SoftBank Group into German payments company Wirecard.
The investment, announced yesterday (April 24), will be issued through convertible bonds with a term of five years and is subject to approval at Wirecard's annual shareholders meeting this June.
Sullivan & Cromwell is advising SoftBank, while German firm Noerr is acting as primary adviser to Wirecard.
Managing partner of Sullivan & Cromwell's Frankfurt office, Carsten Berrar, and Frankfurt capital markets partner Konstantin Technau, advised SoftBank.
Noerr Frankfurt-based capital markets partners Julian Schulze De la Cruz and Laurenz Wieneke are leading the firm's team, which includes capital markets practice co-head Holger Alfes and Duesseldorf corporate partner Sebastian Schurer.
Gibson Dunn is advising on corporate and capital markets in connection to the transaction. The U.S. firm has fielded a Germany-based team including Munich corporate partner Ferdinand Fromholzer and Frankfurt M&A partner Wilhelm Reinhardt.
Last November, Sullivan led SoftBank through the $21 billion IPO of its telecoms division, with Davis Polk & Wardwell advising the underwriting banks.
Morrison & Foerster is another U.S. firm frequently used by SoftBank. The firm advised SoftBank on its high-profile £3.4 billion investment in office-space company WeWork back in 2017.
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