Max Birke

Recent Financing and Restructuring transactions:

Dr. Birke has advised:

• Aroundtown and TLG IMMOBILIEN on financing aspects of Aroundtown’s public delisting tender offer for all outstanding shares of TLG, offering €31.67 per share
• Advent/Centerbridge on financing aspects in connection with the voluntary public takeover offer for Aareal Bank, valuing Aareal at €1.74 billion for 100% of share capital, and Aareal Bank’s subsequent delisting
• Banks to Tele Columbus in (i) the refinancing at the time of Tele Columbus’ IPO, (ii) the acquisition financings for the acquisitions of PrimaCom and pepcom, (iii) several refinancings (including by way of issuance of €650 million high yield notes), and (iv) the consent process by Tele Columbus to allow the acquisition of Tele Columbus by Morgan Stanley Infrastructure and United Internet and the subsequent deleveraging
• COREO on two structured financings with a US and a German debt fund real estate company
• CSM Bakery Solutions on German aspects of an amendment and extension of its credit facilities

• CTP on financing aspects of its combined voluntary public takeover and delisting offer to all shareholders of Deutsche Industrie REIT-AG (DIR), valuing the equity of DIR at approx. €800 million, corresponding to an enterprise value of approx. €1.3 billion
• the joint book-running managers for the Daimler Truck Group’s multi-tranche $1.8 billion yankee bond offering and its inaugural multi-tranche $6 billion yankee bond offering and the joint bookrunners for the Daimler Truck Group’s inaugural multi-tranche C$4 billion bond offering
• Delivery Hero on its ABO and convertible bond offering with an aggregate value of €2.3 billion
• Deutsche Wohnen on financing aspects of its €19 billion business combination with Vonovia
• Deutsche Wohnen on (i) the establishment on its Luxembourg-listed EMTN program and the inaugural issuance and (Reg S) placement of €1 billion green bonds in two tranches due 2031 and 2041 thereunder, and (ii) its (Reg S) placement and Luxembourg listing of €1 billion fixed rate notes in two tranches due 2025 and 2030
• Diebold Nixdorf on a series of transactions, subject of a transaction support agreement, in order to refinance certain debt with near-term maturities and provide Diebold with $400 million in new capital
• DODUCO in an amendment of its financing agreements in connection with its sale to the SAXONIA group
• Fidera, as the largest creditor in the Part 26A restructuring plan of the Project Fürst development in Berlin
• Fidera and Helikon as key creditors in the restructuring of the bonds of German real estate company Demire AG
• the subordinated lender to FlixMobility
• Foxconn in its acquisition of distressed Auto-Kabel Group from the insolvency administration
• Goldman Sachs Bank Europe as financial adviser to Triton on their voluntary public takeover offer for RENK and to Schneider Electric in their voluntary public takeover offer for RIB Software
• Goldman Sachs Credit Funds in a €75 million facilities agreement to Tele Columbus and Goldman Sachs Credit Funds, Goldman Sachs and ING in a working capital financing for Tele Columbus
• Goldman Sachs and Caspian in the debt restructuring of A.T.U in connection with its sale to Mobivia
• Goldman Sachs Investment Partners and Babson on the restructuring of the A.T.U Group
• HelloFresh in a (i) in various iterations of a €400 million revolving credit facility, (ii) a €100 million working capital facilities agreement, and (iii) an up to €225 million term loan agreement
• LEG Immobilien on intercompany financing matters related to (i) its acquisition of around 15,400 apartments from Adler Group and (ii) its staggered acquisition of Tel Aviv listed Brack Capital Properties including delisting and squeeze-out
• Linde on German financing matters related to its delisting from the Frankfurt Stock Exchange by way of an Irish scheme of arrangement and a subsequent inter-company merger
• MediaMarktSaturn on its €1.7 billion state aid financing to address Covid-19 related liquidity needs
• Mister Spex in pre-IPO financings with Jefferies and Commerzbank
• Morgan Stanley as advisor to Oak Holdings GmbH in connection with their voluntary public takeover offer for the acquisition of all shares in Vantage Towers
• Morgan Stanley Infrastructure Partners in connection with the acquisition financing for the acquisition of a 72.55% stake in VTG Aktiengesellschaft (VTG) by Global Infrastructure Partners and the Abu Dhabi Investment Authority, valuing VTG at approx. €7 billion
• Mynaric in connection with a financing of in total €80.6 million to refinance existing indebtedness and support Mynaric’s further growth with funds affiliated with a U.S.-based global investment management firm
• PAION in a structured financing agreement with the European Investment Bank
• Softbank Group on its equity share swap agreement and strategic partnership with Deutsche Telekom AG
• regularly on margin loan and other financings for a tech and health-care investor
• Tinicum Capital in connection with the sale of the DODUCO group to the SAXONIA group and in an amendment of its $150 million precious metals consignment agreement
• TLG IMMOBILIEN (i) on a €516 million vendor loan, (ii) in their €800 million bridge facilities agreement to (re) finance the Aroundtown acquisition and (iii) on a take-out financing in the form of 600m 0.375% senior notes and €600 million perpetual notes