A subsidiary of LEG Immobilien AG (“LEG”), acting as the buyer, and Deutsche Annington Immobilien SE (“Deutsche Annington”), acting as the seller, yesterday signed an agreement for a portfolio transaction for around 9,600 residential units and related employees in North Rhine-Westphalia by way of share deal. The total transaction volume amounts to €484m. Following antitrust approval, the closing of the transaction is expected by the end of October 2014.

Simultaneously with the completion of the transaction, LEG resolved to utilise some of its existing authorised capital to increase the share capital.
The capital increase generated netproceeds of €205m for LEG.

Hengeler Mueller advised LEG comprehensively on the port folio acquisition and the capital increase.

The Hengeler Mueller team includes partners Thomas Müller (M&A/Real Estate), Alexander G. Rang (Capital Increase), Stefanie Beinert (Tax), Christian Hoefs (HR) (all Frankfurt) and Alf-Henrik Bischke (Antitrust, Düsseldorf) as well as associates Maximilian Clostermeyer (M&A/Real Estate, Capital Increase), Christoph Trautrims (Capital Increase), Friederike Kirch-Heim (Tax), Anne Broll (HR) (all Frankfurt), Ye Huo and Marcel Nuys (both
Antitrust, Düsseldorf).