Mergers & Acquisitions

$5.5 Bil.

Icahn Enterprises sells automotive supplier Federal-Mogul to Tenneco for $5.4 billion. The purchase price consists of cash ($800 million) and Tenneco shares (29.5 million shares). XMS Capital Partner and Freitag & Co jointly advised Icahn Enterprises on the transaction.

Date: April 2018
Client:
Icahn Enterprises
€1 Bil.

The City of Hamburg and the State of Schleswig-Holstein sell their joint state bank. A consortium led by the investment firm Cerberus from New York and the American investor J. Christopher Flowers acquire HSH Nordbank for €1 billion. Freitag & Co acted as M&A advisor to Cerberus.

Date: February 2018
Client:
Cerberus
€50 Mio.

The private equity firm KJK Capital acquires Elan, a Slovenian manufacturer of skis, sailing yachts and composite components for the wind industry. Elan is one of the world's most renown ski brands. Freitag & Co advised the sellers Merrill Lynch International and VR Capital on this M&A transaction.

Date: January 2019
Client:
Bank of America Meryll Lynch VR Capital
CHF 782.000.000

freenet AG acquires a 23.83% share in Sunrise Communications, the second largest telecommunications provider in Switzerland, from CVC Capital Partners. The purchase price amounts to CHF 782 million. Freitag & Co advised freenet on M&A and related tactical issues.

Date: March 2016
Client:
freenet GROUP
€4.7 Bil.

Real estate company IVG AG initiates a comprehensive restructuring of their indebtedness of more than €4.7 billion. Key element of the restructuring program is a debt-equity-swap. Freitag & Co advised IVG's controlling shareholder MANN Immobilien regarding the restructuring.

Date: March 2013
Client:
MANN Immobilien
€230 Mio.

Fair Friend Group of Taiwan acquires MAG Group for €230 million. MAG is the world market leader for turnkey engine production systems for the automotive sector with annual sales of €474 million. Freitag & Co advised MAG and successfully completed the transaction as a result of a highly competitive process.

Date: November 2015
Client:
MAG Group Mo Meidar
€255 Mio.

Controlling shareholder Ian Hannam and other investors sell MKM Mansfelder Kupfer & Messing GmbH to the KME Group for an enterprise value of €255 million. The merger of KME and MKM creates the largest manufacturer of primary and semi-finished copper products worldwide. Freitag & Co advised and supported the sellers as well as MKM in the successful implementation of the transaction.

Date: July 2018
Client:
MKM Controlling shareholder Ian Hannam and other investors

Refinancing & Financial Restructuring

€431 Mio.

After intense negotiations, the lenders and the investment firm Cinven agree on a restructuring of JOST's €431 million capital structure. Through the application of innovative restructuring concepts, the clients of Freitag & Co were able to secure their assets and at the same time enabled the company to continue its business operations.

Date: January 2011
Client:
GSC Group NIBC Sancaty Advisors
€90 Mio.

AEG Power Solutions initiates a financial restructuring of its debt capital with a combined volume of €90 million. Key element of the restructuring is a protective shield proceeding for the German subsidiary. Freitag & Co advised and supported AEG Power Solutions through its financial restructuring.

Date: November 2016
Client:
AEG Power Solutions
€600 Mio.

Sales and financing difficulties lead to an imbalance at Praktiker AG. Against this background, Praktiker develops an operational and financial restructuring concept. Part of the concept is the restructuring of Praktiker’s €600 million indebtedness. Freitag & Co advised the holders of the €250 million bond as well as its Joint Representative in assessing the restructuring concept.

Date: July 2013
Client:
Bondholders, Joint Representative of the Bonds
€90 Mio.

SOLARWATT AG uses the new restructuring instrument "ESUG / protective shield proceeding" for a sustainable operating and financial repositioning of the company. Stefan Quandt becomes majority shareholder of the company with an investment of €10 million. SOLARWATT was the first company in Germany to successfully restructure through a protective shield and is still today regarded as the fastest-ever ESUG process. Freitag & Co originated the restructuring concept and advised Stefan Quandt on the transaction.

Date: October 2012
Client:
Stefan Quandt

Capital Markets & Control

€778 Mio.

KKR publishes a tender offer for all preferred shares of WMF AG. The enterprise valuation amounts to €778 million. Freitag & Co advised WMF on strategic issues related to the transaction and issued an independent enterprise valuation (Fairness Opinion) for WMF's management and supervisory board.

Date: July 2014
Client:
WMF AG
€508 Mio.

Dürr AG launches a tender offer for all shares of HOMAG AG at €26.35 per share. The enterprise value of the transaction is €508 million. Freitag & Co advised HOMAG management and supervisory board regarding the transaction and issued an independent company valuation (Fairness Opinion).

Date: July 2014
Client:
HOMAG AG

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