IFLR1000

Cerberus / BAWAG / Centaurus / Goldentree / JC Flowers €1 billion acquisition of HSH Nordbank

28/2/2018
Private acquisition
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€ 1 billion

$ 1.22 billion

Announced

28/2/2018

Overview:

  • A group of investors has reached an agreement to acquire nationalised German lender NSH Nordbank for €1 billion from its two federal states owners.
  • The bank was sold by the federal states Hamburg and Schleswig-Holstei, which collectively owned around 95% in the lender having bailed it out during the financial crisis. 
  • Cerberus Capital Management acquired 40% of HSH and the remaining shares were bought by Bawag, Centaurus, Goldentree Asset Management, and JC Flowers.

 Katrin Kostadinova - Data analyst 

Jurisdictions:

United States
Germany

Deal type:

Private acquisition

Practice areas:

Private equity
M&A

Governing law:

Germany

Industry sector:

Banking

Firms:
A&O Shearman

Party: Cerberus Capital Management (Acquirer)

Lawyers: Alexander Behrens, Frank Herring, Franz Bernhard Herding, Hartmut Krause, Jan Schröder, John Coburn, Nicolaus Ascherfeld, Stefan Henkelmann, Walter Uebelhoer, Wolfgang Melzer

Freshfields Bruckhaus Deringer

Party: HSH Nordbank (Target)

Lawyers: Alexander Glos, Christoph Gleske, Marius Berenbrok (retired), Patrick Cichy, Torsten Schreier

Gleiss Lutz

Party: HSH Nordbank (Target)

Lawyers: Jan Balssen, Ralf Morshäuser, Thorsten Gayk

Hogan Lovells

Party: Bawag PSK (Acquirer)

Lawyers: Julian Fischer, Tim Brandi

Linklaters

Party: Government of Hamburg (Seller)

Party: Govenrment of Schleswig-Holstei (Seller)

Lawyers: Andreas Steck, Barbara Lauer, Mario Pofahl

Noerr

Party: JC Flowers & Co (Acquirer)

Lawyers: Barbara Kusak, Stephan Schulz, Thomas Schulz, Volker Land

Schulte Roth & Zabel

Party: Cerberus Capital Management (Acquirer)

Lawyers: Robert Loper, Stuart Freedman

Sullivan & Cromwell

Party: Centaurus (Acquirer)

Lawyers: Carsten Berrar, Wolfgang Feuring

Watson Farley & Williams

Party: Cerberus Capital Management (Acquirer)

Lawyers: Kavita Shah, Maren Brandes

White & Case

Party: Cerberus Capital Management (Acquirer)

Lawyers: Dennis Heuer, Thomas Flatten

Willkie Farr & Gallagher

Party: Goldentree Asset Management (Acquirer)

Lawyer: Georg Linde

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