Lars Rueve

Recent Equity Capital Markets and Private and Public M&A Transactions

From 2020 to 2024, Dr. Rueve has advised:

• 468 SPAC I on its business combination agreement with Boxine GmbH, valuing the combined company at a pro forma equity value of €990 million
• 468 SPAC I on its €300 million private placement and listing on the Frankfurt Stock Exchange
• 468 SPAC II on its €210 million private placement and listing on the Frankfurt Stock Exchange
• Pre-IPO shareholders on their €400 million secondary placement of Auto1 shares
• Bertelsmann and Saham as shareholders of Majorel on the €3 billion voluntary public takeover offer by Teleperformance

• Delivery Hero on its cooperation agreement with activist investor and minority shareholder Sachem Head
• Delivery Hero on its €571 million and €1.25 billion issues of new shares, its €1.75 billion, €1.5 billion, €1.25 billion and €1 billion convertible bond offerings and its €675 million and €477 million convertible bond repurchases
• Delivery Hero on its £106 million secondary placement and divestment of Deliveroo shares
• European Healthcare Acquisition & Growth Company (SPAC) on its business combination agreement with Croma-Pharma, valuing the combined company at an enterprise value of €850 million
• European Healthcare Acquisition & Growth Company (SPAC) on its €200 million private placement and listing on Euronext Amsterdam
• Finance Agency of the Federal Republic of Germany on its €702 million secondary placement of Commerzbank shares
• Foxconn on its €189 million agreement to acquire PRETTL SWH group
• HelloFresh on its €175 million convertible bond offering
• home24 on its €46 million issue of new shares
• home24 on the voluntary public takeover offer by XXXLutz
• KfW on its €2.17 billion secondary placement of Deutsche Post shares, its sale over the market of 22.4 million Deutsche Telekom shares and its €2.43 billion secondary placement of Deutsche Telekom shares
• Lakestar SPAC I on its €275 million private placement and listing on the Frankfurt Stock Exchange
• Majorel on its abandoned merger with Sitel Group
• OboTech Acquisition (SPAC) on its €200 million private placement and listing on the Frankfurt Stock Exchange
• Porsche Automobil Holding (Porsche SE) on the €10.1 billion acquisition of 25% of the ordinary voting shares of Porsche AG from Volkswagen AG (concurrent with the Porsche IPO)
• Rocket Internet on its €324 million public share purchase offer alongside United Internet’s public share purchase offer
• Underwriters on RWE’s €2 billion issue of new shares
• United Rentals in its $715 million acquisition of BakerCorp International and its €146 million acquisition of Eqin Group and Indu-Tools Group

Further Key Equity Capital Markets Transactions

Over the past 17 years, Dr. Rueve has worked on numerous other high-profile transactions, including:

• IPOs of Covestro, Delivery Hero, Deutsche Annington/ Vonovia, Deutsche Pfandbriefbank, Dermapharm, DWS Group, Evonik Industries, HelloFresh, home24, Instone Real Estate, Rocket Internet, Siemens Healthineers, Sixt Leasing, Tele Columbus, TLG IMMOBILIEN, Westwing and Zalando
• Rights issues of Bayer, Commerzbank, Draegerwerk, IVG Immobilien, Porsche Automobil Holding, Schaeffler and Tele Columbus
• Primary placements of shares in Bayer, Deutsche Annington/Vonovia, Deutsche Wohnen, PAION, ProSiebenSat.1 and TLG IMMOBILIEN
• Secondary placements for Activum of its Instone Real Estate shares, Carlyle of its KAP shares (abandoned), Goldman Sachs and KKR of their KION shares, Hypo Real Estate of its Deutsche Pfandbriefbank shares, Oaktree of its alstria REIT shares, Siemens of its Osram shares and pre-IPO shareholders of their Zalando shares
• Buy-backs of shares in Deutsche Wohnen, PharmaSGP, Rocket Internet and Westwing

Key Private and Public M&A Transactions

Over the past 17 years, Dr. Rueve has advised on many other high-profile M&A transactions, including:

• Owners of BEOS on their sale of the company to Swiss Life
• CPPIB on its abandoned bid for Hochtief Airports
• CSM Bakery Solutions, a portfolio business of Rhône Capital, on the carve-out of its ingredients business by Investindustrial VII
• Delivery Hero in its $4 billion agreement to acquire Woowa Brothers
• Drillisch on its €8 billion business combination with United Internet
• HelloFresh on its agreement to acquire Factor75, Inc. for up to $277 million
• Lone Star in connection with its tender offer for ISARIA Wohnbau
• Merck on its $6.5 billion acquisition of Versum Materials
• Rhône Capital on the sale of CSM Bakery’s fats business to AAK Belgium
• Rio Tinto on the sale of its German Alcan subsidiaries to Amcor
• Shareholders on the sale of Novaled to Samsung Industries