Dr. Lutz Krämer
DMG Mori Seiki AG, 2015
Advising DMG Mori Seiki Aktiengesellschaft on a cooperation agreement with DMG Mori Seiki Co., Ltd as well as a negotiated takeover structure in order to combine both companies and create a world market leader in the machine tools segment. The agreement provides, amongst other things, for the continued operation of significant production sites, the maintenance of jobs and the future corporate governance and aims at a further intensification of the co-operation between the two listed companies.
Advising the management board of Hawesko Holding AG, the target company, in connection with the unsolicited voluntary public takeover bid of TOCOS Beteiligung GmbH as well as the search for a white knight. Our advice covered the entire capital markets and public takeover law and included in particular the legally required statement of the Hawesko management board on the takeover bid as well as the preparation of an extraordinary general meeting of shareholders in this context.
Advised AIXTRON SE on a capital increase from which the company receives gross proceeds of approximately 101 million euros. In an accelerated book-building process, the company issued approximately 10.2 million new shares, an amount equivalent to 10 percent of the current share capital. The shares were admitted to trading without a prospectus in the regulated market (Prime Standard) of the Frankfurt Stock Exchange, and the transaction was managed by BNP Paribas and the German Bank AG as Joint Bookrunners.
DMG Mori Seiki AG (formerly Gildemeister AG), 2009 – 2013
Advised DMG Mori Seiki AG (formerly Gildemeister AG) on all aspects of corporate, capital markets and antitrust law, as the company strengthened its collaboration with the Japanese machine tool manufacturer Mori Seiki. Lutz and his team advised on a non-cash capital increase of approximately €55 million, and a rights issue of approximately €220 million. The Firm also advised on the name change of the two cooperation partners: Gildemeister AG is now named DMG Mori Seiki AG and the Japanese machine tool manufacturer is named DMG Mori Seiki Co. Ltd. The transaction structure raised complex corporate issues under both German and Japanese law. The non-cash capital increase consisted of a contribution of shares in a Japanese company and shares in a US company.
Qatar Holding, 2012
Advised Qatar Holding LLC in connection with the subscription of the mandatory convertible Volkswagen AG (VW). VW decided, on June 11, 2013, to issue mandatory convertible bond of up to €1.2 billion. J. P. Morgan Bookrunnners guaranteed to accept bonds with a total nominal value of €500 million. In addition, Qatar Holding LLC has submitted as an anchor investor a binding order to draw in the placement bonds.
Advised Outokumpu Oyj, a leading stainless steel producer based in Finland, on its acquisition of Inoxum, the stainless steel unit of German company ThyssenKrupp, which was valued at €2.7 billion. This complex transaction ranks among the largest ever acquisitions by a Finnish company, and created a new global leader in stainless steel, expanding on Outokumpu's strong industrial tradition in Finland. In connection with the transaction, Outokumpu will conduct a fully underwritten rights offering of €1 billion.
Ad hoc disclosure and insider law under the new module C of BaFin's guidelines for issuers, Der Betrieb, Nr. 26, Page 1386- 1393 (with Alexander Kiefner and Benedikt Happ)
New Issuer Guidelines on insider law and ad-hoc publicity, Der Aufsichtsrat, Heft 05/2020, Page 72 (with Alexander Kiefner)
The new BaFin guidelines re: insider law and ad-hoc-disclosures (Der neue Emittentenleitfaden zum Insiderrecht und zur Ad-hoc-Publizität), Der Aufsichtsrat, Heft 10/2019, Page 148 (with Alexander Kiefner)
Public disclosure of inside information according to the ESMA Final Report (Ad-hoc-Publizität nach dem Final Report der ESMA), AG, Issue 17, Pages 621-627, 2016, (co-author with Alexander Kiefner)
The Federal Financial Supervisory Authority's (BaFin) new guidelines on fines pursuant to the German Securities Trading Act (WpHG) – critical observations and European perspectives , ZIP (Zeitschrift für Wirtschaftsrecht), Issue 33, pp. 1557 et seq., 2014, (co-author with Tobias Heinrich and Ole Mückenberger) (Die neuen WpHG – Bußgeldleitlinien der BaFin – kritische Betrachtungen und europäische Perspektiven)
Stricter rules against stock exchange fraud. EU commission takes measures against market abuse – more certainty for market soundings , Börsen-Zeitung, No. 116, p.13, 2014, (Schärfere Regeln gegen Börsenbetrüger. Die EU-Kommission geht weiter gegen Marktmissbrauch vor – Rechtssicherheit für Market Soundings) (co-author with Lars Teigelack)
Issuers Guidance 'reloaded' – A Review of BaFin's Issuers Guidance dated November 8, 2013 with an outlook on future changes of the supervisory practice by the Transparency Directive 2013 , CORPORATE FINANCE Law, Issue 5, p. 225 et seqq., 2013, (Emittentenleitfaden, reloaded' 2013 - Bestandsaufnahme der Neufassung der BaFin vom 8. November 2013 mit Ausblick auf künftige Änderungen der Aufsichtspraxis durch die Transparenzrichtlinie 2013) (co-author with Tobias Heinrich)
Managing directors' liability according to 'ISION' and reliance on legal advice ‒ A plea for applying the principles established by case law with a sense of proportion , Issue 13, pp. 498–502, 2012, (Geschäftsleiterhaftung nach ISION und das Vertrauendürfen auf Rechtsrat ‒ Plädoyer für eine Anwendung der Rechtsprechungsgrundsätze mit Augenmaß) (co-author with Alexander Kiefner)
Legal and practical aspects of a due diligence on the basis of publicly available information of a listed company , BB (Betriebs-Berater), pp.1679-1687, 2012, (Rechtliche und praktische Aspekte einer Due Diligence aus öffentlich zugänglichen Informationsquellen einer börsennotierten Gesellschaft) (co-author with Matthias Kiesewetter)
Staggered exemptions from publication requirements in cases involving conflicting inside information? , AG (Die Aktiengesellschaft), 1–2, pp. 20–28, 2012, (Gestaffelte Selbstbefreiung bei gegenläufigen Insiderinformationen?) (co-author with Lars Teigelack)
The German Federal Court of Justice's "Telekom III" ruling – Risk allocation at the intersection between stock corporation law and the law of capital markets , CORPORATE FINANCE Law, Issue 7, pp. 328-345, 2011, (Das "Telekom III"-Urteil des BGH – Risikozuweisungen an der Schnittstelle von Aktien- und Kapitalmarktrecht) (co-author with Alexander Kiefner and Benedikt Gillessen)
Highly Recommended Lawyer, JUVE 2019/2020
Corporate and Corporate Litigation, Compliance Audits and Investigations
Leading Lawyer, Kanzleimonitor 2016/2017, 2017/2018
Capital Markets Law
Highly Recommended Lawyer, JUVE 2018/2019
Corporate and Corporate Litigation; Compliance Audits and Investigations
Highly Recommended Lawyer, Best Lawyers/Handelsblatt, 2015
Capital Markets Law
Leading Lawyer, Chambers Europe 2015
Equity Capital Markets - Germany
Leading Individual, IFLR 1000 2014
Capital Markets - Germany
Leading Lawyer, Kanzleimonitor 2014/2015
Capital Markets Law
Highly Recommended Lawyer, JUVE 2015/2016
Corporate and Corporate Litigation; Equity Issues and IPO; Compliance Audits and Investigations
Leading Lawyer, Kanzleimonitor 2013/ 2014
Stock Corporation Law and Capital Markets Law