CORESTATE Capital Holding S.A. (CORESTATE), a fully integrated real estate investment manager and co-investor, is purchasing 94.9% of the shares in the HANNOVER LEASING Group. The sellers are essentially the majority shareholders of the HANNOVER LEASING Group, Landesbank Hessen-Thüringen Girozentrale (Helaba) and Hessisch-Thüringische Sparkassen-Beteiligungsgesellschaft (HTSB). Closing of the transaction is still subject to completion of the ownership control procedure by the German Federal Financial Regulatory Authority (BaFin) and is expected to take place in the first half of 2017. Helaba will retain a minority share of 5.1% in HANNOVER LEASING.
HANNOVER LEASING is one of Germany’s leading asset managers and providers of asset-based investments, and as a licensed capital investment company offers closed-end public AIFs (alternative investment funds). Since its foundation in 1981 HANNOVER LEASING has raised EUR 9.9 billion in equity for more than 200 closed-end funds from private and institutional investors. HANNOVER LEASING’S investment activities focus primarily on real estate in Germany and abroad as well as public infrastructure projects. The overall investment volume of assets currently under management amounts to approx. EUR 13.6 billion.
CORESTATE is a fully integrated real estate investment manager and co-investor with registered office in Luxembourg, whose assets under management will amount to approx. EUR 16 billion following the takeover of HANNOVER LEASING.
Gleiss Lutz provided Helaba with extensive legal support regarding the structured sales process preceding the transaction and the execution of the transaction with CORESTATE. Helaba was advised by the following team of Gleiss Lutz lawyers, led by Dr. Jan Bauer and Dr. Detlef Bauer (both partners, corporate/M&A, Frankfurt): Dr. Konstantin von Dryander, Jan Philipp Mohr, Vanessa J. Carduck, Andreas Knossalla (all corporate/M&A), Dr. Wolfgang Bosch (partner), Dr. Birgit Colbus (counsel) (both competition/antitrust), Dr. Stefan Mayer (partner), Thorsten Glombik (both tax), Dr. Maximilian von Rom (partner), Sebastian Tusch (counsel) (both financial market supervision) (all Frankfurt).
Helaba was represented by Claudia Hillenherms (Head of Investments) and Clemens Suffel from Legal.
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