Hengeler Mueller advises Siemens on Sale of Audiology Solutions business Siemens sells its Audiology Solutions business to the Swedish investor EQT and the German entrepreneurial family Strungmann as co-investor for €2.15bn plus an earn-out component. Due to the very attractive offer made by the two investors, Siemens has decided not to further pursue preparations for the public listing it announced in May. Siemens will invest €200m in preferred shares in the equity capital of the audio solutions business and will thereby be able to participate in the future success of the business.

With more than 5,000 employees, Siemens Audiology Solutions achieved a turnover of €693m and a profit of €145m before interest, taxes and amortization (EBITA) in the 2014 fiscal year. The division is active at a worldwide level.

Hengeler Mueller advised Siemens on the sale and the preparations for going public. The Hengeler Mueller team was led by partners Hans-Jorg Ziegenhain and Daniel Wiegand (both Corporate/M&A, Munich) and included Steffen Oppenlander  (Corporate/M&A, London), Matthias Scheifele (Tax), Nikolaus Vieten (Financing), Wolfgang Grob, Alexander Rang (both Capital Markets) (all Frankfurt), Simon Patrick Link (Corporate) as well as associates Jakub Lorys, Verena Nosch (both Corporate/M&A) (all Munich) and Friederike Kirch-Heim (Tax, Frankfurt).

The Siemens Inhouse Team comprised Sabine Kalbitz and Christian Bindl (both project lead), Christian Bleiweiss, Lars Munch, Michael Schirmer (all Corporate/M&A), Thomas Borm (Financing), Robert Spangler (Tax) Jutta Hanle (Trademark/IP), Holger Hohmann (Antitrust).