White & Case Advises Consus on Acquisition of SSN Group
Global law firm White & Case LLP has advised Consus Real Estate AG (Consus), a leading listed German real estate developer, on the acquisition of a majority stake in SSN Group AG (SSN).
Consus will acquire a majority 93.4 percent stake in SSN from its two former sole shareholders. As part of the transaction, Consus will also acquire a further 38.9 percent of the shares in SG Development GmbH, a subsidiary of SSN, as well as a 43 percent stake in SSN Projektentwicklung from Aggregate Deutschland S.A., the majority shareholder of Consus, by issuing new Consus shares as part of a non-cash capital increase.
The total purchase price, including the capital increase, amounts to approximately €470 million. The cash component of the purchase price will be provided from Consus' own resources and a €250 million loan provided by J.P. Morgan.
The White & Case team in Frankfurt which advised on the transaction was led by partner Gernot Wagner and included partners Bodo Bender, Rebecca Emory, Alexander Kiefner, Lutz Krämer, Hendrik Röhricht and Vanessa Schürmann, local partners Thilo Diehl and Sébastien Seele, associates Peter Becker, Sebastian Brenner, Stefan Jobst, Jakob Staudt and Daniel Hobbs and senior transaction lawyer Alexander Hansen Díaz.
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