Advising Westgrund AG on capital increase of up to EUR 140 million

A team led by capital market law expert Dr. Mirko Sickinger, LL.M., partner at the Cologne office of the commercial law firm of Heuking Kühn Lüer Wojtek, legally advised Westgrund AG on another capital increase. The prospectus submitted by the company and drafted by Heuking Lüer Wojtek has now been approved by the Federal Financial Supervisory Authority (BaFin).

As part of the subscription offer, new shares will be placed with the company's existing shareholders and investors, to the extent they had not already been subscribed as part of an advance placement by investors outside of the USA in accordance with Regulation S of the U.S. Securities Act, as well as outside of Canada, Japan, and Australia. The advance placement had already been completed as part of an accelerated bookbuilding procedure. The subscription period for shareholders is expected to begin on September 11 and end on September 24, 2014. Westgrund AG aims at generating issue proceeds of EUR 140 million.

Gross issue proceeds from the capital increase are to be used for financing the Berlinovo real estate portfolio acquired in July 2014. As part of this largest acquisition in the company's history to date with a total of some 13,300 apartments in Lower Saxony, Brandenburg, Mecklenburg-Western Pomerania, and Saxony, Westgrund AG expects to increase its annual net rental income by some 150 percent to about EUR 61 million.

Counsel to Westgrund AG
Heuking Kühn Lüer Wojtek:
Dr. Mirko Sickinger, LL.M. (Lead),
Tobias Nagel,
Lena Pfeufer, all Cologne,
Dr. Katja Plückelmann,
Miriam Schäfer,
Dr. Götz G. Karrer (all Stock Corporation Law and Capital Markets),
Dr. Peter Vocke,
Christoph Nöhles, LL.M. (both Real Estate Law),
Michael Vetter, LL.M. (Antitrust Law), all Düsseldorf,
Klaus Weinand-Härer (Tax Law), Frankfurt,
Dr. Karsten Kühne (Notary), Berlin