Noerr advises consortium banks Jefferies and ODDO BHF on capital increase at Deutsche Konsum REIT-AG

Noerr has advised the consortium banks Jefferies and ODDO BHF on a successful capital increase at Deutsche Konsum REIT-AG.

The capital increase against cash contributions was carried out using approved capital while excluding shareholders’ subscription rights. Using an accelerated bookbuilding process, a total of 3,195,944 new shares were placed with institutional investors as part of a private placement at a price of EUR €16.00 per new share; this corresponds to 10% of the previous share capital.

The capital increase generates around €51.1m in gross issue proceeds. The company will use the net proceeds to strengthen its equity base and finance further acquisitions and take advantage of acquisition opportunities, enabling it to continue its successful growth course in future. Deutsche Konsum REIT-AG specialises in purchasing, managing and letting retail properties in regional and medium-sized towns and cities.

Noerr already advised the company in the past on its successful IPO and other corporate actions.

Advisors to Jefferies and ODDO BHF: Noerr LLP

Dr Laurenz Wieneke, Dr Julian Schulze De la Cruz (joint team lead, both Capital Markets, Frankfurt)

Associates: Thomas Thies, LL.M., Dominique Stütz (both Capital Markets, Frankfurt)