SULLIVAN & CROMWELL

Comment: This firm continues to rank among the leading addresses in equity capital markets. Competitors and clients unanimously show respect for its superior presence, esp. thanks to Berrar. The work on the Delivery Hero and Innogy IPOs and the preparation of the recently aborted IPO of Office First are only three examples among many that demonstrate the strength of the practice. It has also shown that, despite its allegedly lean headcount, the practice manages to conduct multiple large transactions at once without a problem. Thanks to yearly associate growth, it has now achieved a headcount that is in no way inferior to other leading practices. In addition, a lawyer specializing in ECM and ?M&A was appointed counsel.
Strengths: Outstanding reputation for transaction management and experience with disclosures. Very strong in integrated 144a work.
Recommended: Dr. Carsten Berrar (“always fair and agreeable”, “very good stock corporation lawyer”, clients; “strong track record”, “one of the best ECM lawyers”, “phenomenal”, “has secured S&C an absolutely exceptional position on the market”, competitors), Dr. Wolfgang Feuring (“very experienced and agile, excellent team”, client on both), Dr. Konstantin Technau.
Practice: Broad palette of equity products, esp. expertise in SEC-registered deals, 144a listings. (4 partners, 3 counsel, up to 15 associates)
Clients: ?? Delivery Hero on IPO; TLG, Drillisch, Pro7Sat.1 respectively on secondary offerings; Deutsche Bank, Goldman Sachs, BNP Paribas, BofA, Credit Suisse, UBS on Innogy IPO; Bayer on rights issue; Office First on planned IPO (dual track, ended in sale).
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