Freshfields Bruckhaus Deringer

Comment: One of the leading firms for equity capital markets, this practice has again secured a significant share of the market. Its strong position is evident, e.g. in its advice on both secondary offerings of Ado Properties, as well as its advice to banks on the IPOs of Delivery Hero and Vapiano. In addition, it advised Vonovia on the public takeover bid for Conwert, in which a portion of the purchase price was paid in shares. Alongside its classic ECM business, the experienced lawyers’ repertoire also includes dual-track proceedings. FBD once again confirmed its place among the market leaders in this segment with its advice to EQT on the planned IPO of BSN Medical. In the simultaneous advice on parallel M&A and IPO proceedings, both the outstanding cooperation within the ECM team as well as the interdisciplinary integration were impressive. Long-time partner Dr. Andreas König retired from the team.
Strengths: Many strong individual lawyers with broad capital markets experience. Well-honed teams.
Development potential: Even without König, the team still has enough strong lawyers in its ranks, but some of them have been trusted with central management duties or are tied up with other practice groups. To retain clout, it will be essential to bring younger lawyers into positions of responsibility.
Recommended: Rick van Aerssen (“very flexible and efficient”, client; “one of the best ECM lawyers”, competitor), Dr. Christoph Gleske (“long-standing, intensive and faithful cooperation”, client; “very focused”, “formidable”, competitors), Mark Strauch.
Practice: Frequent advice to corporate clients on IPOs, secondary offerings and hybrid products ( ?debt issues). (4 partners, 15 associates)
Clients: ?? Citigroup, Goldman Sachs, Morgan Stanley on IPO of Delivery Hero; Barclays, Berenberg, Jefferies on IPO of Vapiano; Jost-Werke/Cinven on IPO of Jost; Ado on secondary offering and private placement; Commerzbank, Credit Suisse on SGL rights issue; Vonovia on prospectus writing for new shares in the course of the Conwert takeover; EQT on planned BSN Medical IPO (dual track, led to sale).
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