Gleiss Lutz advises Sparkassen- und Giroverband Hessen-Thüringen on its acquisition of Naspa Dublin

Gleiss Lutz has advised Sparkassen- und Giroverband Hessen-Thüringen (savings banks and giro association for Hesse-Thuringia - SGVHT) on the acquisition of Naspa Dublin. Nassauische Sparkasse (Naspa) has concentrated its capital markets business in its subsidiary Naspa Dublin, which manages assets of approx. EUR 4.2 billion. The purchase price for the shares in Naspa Dublin was EUR 251 million.

The acquisition of Naspa Dublin allows the Savings Banks Finance Group Hesse-Thuringia to consolidate its capital market business. It also helps the German association reorganize its structures in line with its business and risk strategy, creates savings potential and also bolsters Naspa’s equity position.

Following receipt of the necessary approval of the antitrust and banking supervision authorities, the transaction was consummated by means of a scheme of arrangement.

Gleiss Lutz advised SGVHT on all legal aspects of the transaction. Gleiss Lutz’ team consisted of Dr. Jan Bauer (partner, corporate/M&A, lead), Dr. Helge Kortz (partner, banking), Dr. Markus Deutsch (partner, banking supervision) (all Frankfurt), Dr. Ulrich Soltész (partner, banking supervision, Brussels), Dr. Michael Marquardt (partner, tax, Frankfurt) and Dr. Cai Berg (corporate/M&A), Dr. Birgit Colbus (antitrust), Dr. Kai Arne Birke (banking), Dr. Stefan Mayer (tax) (all Frankfurt) and Philipp Melcher (banking supervision, Brussels).