Online furniture shop Home24 is advised by Noerr and inhouse legal department on financing round
11.06.2015
Noerr has advised Home24 AG on its first round of financing in the new legal form of an “Aktiengesellschaft” (public limited company), in which Home 24 AG has gathered a total of € 120 million. By this transaction, Europe’s largest online furniture shop, which in this financing round as well as in the preceding change in legal form from a “GmbH” (limited liability company) to an “Aktiengesellschaft”, was able to rely on its own legal department led by its General Counsel, Dr. André Schneider, is strengthening its balance sheet structure, receiving additional capital for further growth.
The British investment management firm Baillie Gifford, representing the funds managed by it, is investing € 90 million in Home24, thereby taking over 9.55% of the shares as part of the capital increase carried out in connection with this financing round. The other € 30 million have been invested by existing shareholders.
Home24 was advised by a Noerr team led by Dr. Sascha Leske. The Berlin team advises Home24 regularly in connection with financing rounds and the entry of new investors.
Advisors to Home24 AG: Noerr LLP
Dr. Sascha Leske (Lead), Felix Blobel; Associates: Dr. Hilmar Hamm, Michael Sturm (all Corporate/M&A, Berlin)
Inhouse:
Dr. André Schneider (General Counsel, Lead)
