Global law firm White & Case LLP has advised the underwriters, led by Berenberg and Jefferies, on the initial public offering (IPO) of Friedrich Vorwerk Group SE (Friedrich Vorwerk), a subsidiary of MBB SE.
The IPO comprises newly issued shares from a capital increase and existing shares of existing shareholders, including an over-allotment, offered in a public offering in Germany and a private placement to institutional investors. The shares were admitted to trading on the regulated market (Prime Standard) of the Frankfurt Stock Exchange. The total offer volume of the issue amounts to €414 million. Friedrich Vorwerk will use the gross proceeds of €90 million from the newly issued shares primarily to expand its hydrogen and power business.
Friedrich Vorwerk is a leading provider of energy infrastructure solutions for gas, electricity and hydrogen applications.
The White & Case team which advised on the transaction was led by partners Rebecca Emory and Thilo Diehl (both Frankfurt) and included partners Gernot Wagner (Frankfurt), Thomas Burmeister, Tilman Kuhn (both Düsseldorf) and Bodo Bender (Frankfurt), counsel Alexander Born (Frankfurt), local partner Daniel Rogits (Frankfurt) and associates Robert Nachama, Lukas Hackmann (both Frankfurt) and Andreas Schapowalow (Düsseldorf).
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