Ashurst advised WCM Beteiligungs- und Grundbesitz-AG ("WCM AG"), Frankfurt am Main, on its successful €156 million rights issue as well as on the acquisition of several real estate portfolios.

The capital increase from authorised capital with subscription rights and the up-listing of new and existing shares from the General Standard to the Prime Standard of the Frankfurt Stock Exchange has today been implemented successfully. The new shares have been issued at a subscription price of €2.05 per share whereby existing shareholders were able to purchase nine new shares for four shares held. The subscription period of the transaction ended on 6 July 2015. Unsubscribed shares were placed with qualified German and foreign institutional investors in a private placement (rump placement). The capital increase was coordinated by the underwriting banks, Joh. Berenberg, Gossler & Co. KG ("Berenberg", sole global coordinator) and ODDO SEYDLER BANK AG.

Proceeds from the capital increase will be used for the financing of the acquisition of numerous properties including a portfolio comprising 16 office and other commercial properties in the Rhine-Main area and Dresden as well as a retail portfolio with 29 EDEKA supermarkets.

The Ashurst team was led by real estate partner Marc Bohne and corporate partner Matthias von Oppen (both Frankfurt-based). Counsel Nicolas Deuerling as well as associates Michael Mehler and Adnan Manzoor assisted on real estate law, counsel Dr Gerrit Clasen and associates Dominik Richers and Joanna Wilczynska-Gluch on equity capital markets law. Senior Associate Felix Krüger supported on tax law.