Clemens Rechberger is a partner in the firm’s General Practice Group. He is based in the Frankfurt office and also has experience working in the firm’s New York and London offices.
Mr. Rechberger focuses on representing issuers and underwriters in a broad range of equity and debt capital market transactions. He also advises on public and private M&A transactions.
Mr. Rechberger has been recognized as a leading lawyer by various key legal directories, including Chambers Global, Chambers Europe and The Legal 500. Mr. Rechberger is qualified to practice New York law.
SELECTED REPRESENTATIONSRecent Equity Capital Markets (ECM) transactions
From 2018 to 2020, Mr. Rechberger advised:
- Brockhaus Capital Management on its €115 million IPO and listing on the Frankfurt Stock Exchange
- Delivery Hero on (i) its €1.5 billion convertible bond offering and (ii) its ABO and convertible bond offering with an aggregate value of €2.3 billion
- Global Fashion Group on (i) its c. €120 million private placement by way of an ABO and (ii) its €198 million IPO and listing on the Frankfurt Stock Exchange
- Instone on its €172.4 million capital increase
- Jumia Technologies on its $196 million SEC-registered IPO and NYSE listing
- home24 on its €600 million IPO and listing on the Frankfurt Stock Exchange
- PharmaSGP on its €127 million IPO; Germany’s first Prime Standard IPO of 2020
- Underwriters on RWE’s €2 billion capital increase and private placement of new shares
- The underwriters on Siemens Healthineers' €4.2 billion IPO; the world’s largest healthcare IPO on record
- Westwing on its €520 million IPO and listing on the Frankfurt Stock Exchange.
Further key Capital Markets transactions
In addition to the transactions listed above, Mr. Rechberger has extensive experience in capital market transactions representing issuers, underwriters and selling shareholders on a wide range of IPOs, rights offerings, private placements and debt issuances. His experience includes:
- IPOs: Advising issuers such as HelloFresh (2017); Delivery Hero (2017); and Rocket Internet (2014). He has also advised underwriters on many transactions, such as innogy (2016); Zalando (2014); Brenntag (2010); and Hochtief Concessions (2009).
- Rights offerings: Advising issuers, such as Deutsche Wohnen (2015, 2012 and 2011) on its capital increases. He also advised the underwriters on the rights offerings of BUWOG (2017); Commerzbank (2013); IVG Immobilien (2011); Q-Cells (2010); Draeger (2010); and Deutsche Wohnen (2009).
- Private placements: Advising Eurazeo on the sale of shares in Elis (2019, 2017), Moncler (2019) and Accor (2018); Rocket Internet on the sale of HelloFresh shares (2018); and Siemens on the sale of Osram shares (2017).
- Debt issuances: Advising issuers such as Daimler, KfW, Rentenbank and FMS Wertmanagement on numerous Rule 144A and SEC-registered debt offerings. He also advised the underwriters on a Rule 144A bond offering by Deutsche Telekom.
Mergers and Acquisitions
Mr. Rechberger’s experience in M&A includes:
- Advising principals on public M&A transactions: Covivio in its €1.2 billion voluntary public takeover offer for all shares in Godewind Immobilien (2020); TLG Immobilien in its public exchange offer to acquire all outstanding shares in WCM (2017); Deutsche Wohnen on its voluntary public tender offer to acquire all outstanding shares of LEG Immobilien (abandoned); Deutsche Annington on its public exchange offer to all shareholders of GAGFAH for $10.7 billion (2015); Deutsche Wohnen on its attempted voluntary public tender offer to acquire all outstanding conwert’s shares and convertible bonds (abandoned); and Deutsche Wohnen on its €3.6 billion public takeover of GSW (2013).
- Advising principals on private M&A transactions and other privately negotiated transactions: Goldman Sachs Merchant Banking Division on the DKK8 billion investment in DONG Energy (now Ørsted) as part of a DKK13 billion capital raise (Deal of the Year – M&A, IFLR European Awards); Rhône Capital in its investment in Quicksilver; Diageo in its acquisition of premium cocktail mixer maker Stirrings.
Rankings and Recognitions
- Chambers Global: Capital Markets: Equity (2020)
- Chambers Europe: Capital Markets: Equity (2020)
- The Legal 500: Germany: ECM