Clifford Chance advised the joint lead banks Deutsche Bank and BofA Merrill Lynch in connection with the capital increase of LANXESS AG. The transaction involved the offering of 8.3 million new shares to institutional investors in private placements via an accelerated bookbuilding. Subscription rights of existing shareholders of LANXESS AG were excluded. The capital increase resulted in gross proceeds to LANXESS AG of 430 million Euro.

LANXESS is a German specialty chemical group which intends to refocus and restructure its business with the capital increase as the first step.

The Clifford Chance team consisted of Partners Dr. George Hacket and Sebastian Maerker as well as Senior Associate Dr. Axel Wittmann (all Banking & Capital Markets, Frankfurt).