Allen & Overy LLP is advising Perry Capital on the initial public offering of LEG Immobilien AG on the regulated market (Prime Standard) on the Frankfurt Stock Exchange.
LEG Group is responsible for around 91,000 housing units and is one of the largest housing companies in Germany. LEG NRW GmbH, a subsidiary of LEG Immobilien AG, was acquired from the state of North Rhine-Westphalia in 2008 by funds advised by Whitehall and Goldman Sachs and funds advised by Perry. Prior to the IPO, LEG Group was restructured to allow for the IPO of LEG Immobilien AG.
 
The shares will be publicly offered to private investors in Germany and Luxembourg and to institutional investors nationally and internationally by way of a private placement. Without greenshoe shares, 26,481,722 shares equal to 50% of the shares of LEG Immobilien AG were placed by the shareholders, Saturea BV, owned by funds advised by Whitehall and Goldman Sachs, and Luxco Perry RE S.á r.l., owned by funds advised by Perry. The initial price upon commencement of trading of EUR 44.00 per share results in an offer volume of approximately EUR 1.2 billion.
 
Allen & Overy has already advised Perry Capital on its investment in LEG NRW GmbH in 2008 and is now advising on the corporate restructuring and all aspects of the IPO.
 
The Allen & Overy team led by partners Birgit Reese (Corporate/M&A, Düsseldorf) and Dr. Oliver Seiler (Equity Capital Markets, Frankfurt) comprised the partners George Knighton (Corporate/M&A, London), Dr. Asmus Mihm (Tax, Frankfurt), counsel Dr. Knut Sauer (Equity Capital Markets, Frankfurt) and associate Dr. Christian Ronge (Corporate/M&A, Düsseldorf).

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