German space and technology company OHB SE signed, amongst others, contractual arrangements with leading global investment firm KKR and the Fuchs Family Foundation as the major shareholder of OHB.
Under these agreements, KKR intends to launch a voluntary public takeover offer for all outstanding shares of OHB at a price of €44 per share. KKR has separately committed vis-à-vis OHB to a capital increase of 10 percent to further support OHB’s growth strategy. OHB’s portfolio company Rocket Factory Augsburg will also separately receive €30 million under convertible bonds in order to ensure the development of the three-stage rocket “RFA ONE” through to a successful first flight, and thus, Europe’s independent access to space.
The takeover offer values OHB at approximately €1 billion (including debt). The parties intend a subsequent delisting from the Frankfurt Stock Exchange.
The Fuchs family will retain control of OHB and the company will preserve its DNA as an independent Germany family business.
S&C advised OHB on all M&A, antitrust and FDI matters in this high-profile take-private transaction.
The S&C team advising OHB was led by Carsten Berrar and Florian Späth and included Konstantin Technau, Frederic Wünsche, Manon Grimm, Jannis Rink, Ben Fuhrmann on the M&A side, as well as Michael Rosenthal and Kolja Ortmann who advised on antitrust matters, and Peter Klormann, Katharina Leonhardt and Marielena Doeding, who advised on FDI-related matters.