Allen & Overy LLP has advised Berenberg, Gossler & Co. KG and JP Morgan Securities plc as underwriters in connection with a capital raising  by Grand City Properties SA.

The issue of 27,000,000 new no-par value bearer shares under exclusion of subscription rights of existing shareholders, the company's share capital by EUR 8,842,500.00 was increased by EUR 2,700,000 to EUR 11,542,500. The new shares were issued at an issue price of EUR 6.50. The total proceeds of approximately EUR 175.5 million will be used by the Company to finance various acquisitions.
 
The Allen & Overy team comprised partners Gernot Wagner (U.S. Corporate Finance) and Dr. Oliver Seiler, Counsel Dr. Knut Sauer, associate Dr. Alexander Schlee (all Equity Capital Markets) and Senior Associate Dr. Susanne Lenz (U.S. Corporate Finance, all Frankfurt). The team of colleagues from the Luxembourg Allen & Overy office was supported.