Global law firm White & Case LLP has advised Consus Real Estate AG, a Berlin based developer of residential real estate properties, on its capital increase with subscription rights.
Consus contemplates to issue up to 39.9 million new ordinary registered shares with no par value at a subscription ratio of 11:23 and a subscription price of €7.20 per new share. The newly issued shares will have full dividend rights from January 1, 2017. The gross proceeds from the capital increase in the event of a placement of all new shares, which is executed on a best efforts basis, are expected to amount to up to €287 million. Consus intends to use the net proceeds from the capital increase to fund further growth of its development business and to enhance its strategic flexibility.
The White & Case team in Frankfurt which advised on the transaction was co-led by local partner Thilo Diehl and partner Lutz Krämer, and included partners Gernot Wagner, Rebecca Emory, Karsten Wöckener, Holger Wolf, Alexander Kiefner and Bodo Bender, counsel Alexander Born, associates Philipp Lohs, Stefan Jobst, Philipp Kronenbitter, Daniel Rogits, Florian Fraunhofer, Peter Becker, Tobias Daubert, Sandra D'Ascenzo, Anne-Sophie von Koester and Kathrin Ahting.
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