Holger Alfes, LLM

Lawyer, attorney and counselor at law (New York), Partner

Capital Markets
Real Estate Investment Group
Mergers & Acquisitions
Environmental Social and Governance

Holger Alfes

Dr Holger Alfes is partner in Noerr's Frankfurt office and Co-head of the Capital Markets practice group. His practice focuses on capital markets, M&A and financing transactions as well as ongoing corporate law advice to listed companies. Holger regularly advises on complex, cross-border M&A transactions both in the area of public takeovers and transactions with non-listed companies.


  • Advising Fresenius Medical Care AG & Co. KGaA on its change of legal form from a partnership limited by shares to a stock corporation
  • Advising SAF-HOLLAND SE on the the €300 million takeover offer for Swedish Haldex AB (2022).
  • Advising Deutsche Industrie REIT-AG on the €800 million delisting takeover offer by Dutch CTP N.V. (2021).
  • Advising the insolvency administrator on the global divestitures of Wirecard entities, such as the sale of the Brazilian, South African and Asian subsidiaries (2020-2022).
  • Advising Compleo Charging Solutions AG on a €54.6 million rights issue (2021).
  • Advising Fresenius Medical Care on the issuance of several bonds with a total volume of US$ 1.5 billion (2021).
  • Advising Borussia Dortmund GmbH & Co. KGaA on a €86.5 million rights issue (2021).
  • Advising DEMIRE Deutsche Mittelstand Real Estate AG on the joint acquisition of the Frankfurt office building complex Cielo (together with RFR) with a transaction volume of €270 million (2021).
  • Advising DFV Deutsche Familienversicherung AG on a €32.4 million capital increase (2020).
  • Advising Fresenius Medical Care on the issuance of a bond with a volume of US$1.0 billion (2020).
  • Advising Federal Republic of Germany - Finance Agency GmbH in the preparation of the model documentation for the Economic Stabilisation Fund (ESF) (2020).
  • Advising fashionette AG and Hauck & Aufhäuser as accompanying bank on the Company's IPO on the Scale segment of the Frankfurt Stock Exchange (2020).
  • Advising Fresenius Medical Care on the issuance of several bonds with a total volume of €1.25 billion (2020).
  • Advising Apollo Global Management on the sale of pan-European logistics portfolio Maximus to Singapore government funds GIC for €950 million (2020).
  • Advising SAF-HOLLAND SE on its change of legal form and migration from Luxembourg to Germany as well as various international M&A transactions (2020).
  • Advising the insolvency administrator on the international divestitures of Thomas Cook entities (2019/2020).


  • Frequently recommended for "Bonds", “IPOs and Capital Increases”, “M&A” and “Corporate” in JUVE Handbook (2022/2023)
  • Ranked by the magazine Wirtschaftswoche (edition 22 April 2022) among the notably recommended lawyers for capital markets law in Germany
  • Leading expert in capital markets law, Best Lawyers in Germany (2016)
  • Ranked by the magazine Wirtschaftswoche (edition 17 July 2010) among the top 25 lawyers for stock corporation law in Germany


Legal studies and doctorate degree at the University of Münster
Postgraduate Master of Laws (LL.M.) programme at Case Western Reserve University, Cleveland (Ohio, USA)
Attorney-at-law (New York) at US law firms in Cleveland (Ohio) and Frankfurt/Main
At Noerr since 1999
Admitted to the Frankfurt Chamber of Lawyers.


  • New York Bar Association


  • Letter of Intent and Non-Disclosure Agreement, Beck'sche Online-Formulare, Hans-Frieder Krauß and Stefan Weise (eds), edited quarterly since 2007
  • Notes on sections 793 to 808 German Civil Code, Herberger/Martinek/Rüßmann et al., jurisPK-BGB, 10th edition 2022
  • Hybride Finanzierungen, Rottke/Goepfert/Hamberger, Immobilienwirtschaftslehre – Recht, 1st edition 2016
  • Notes on Annex I Commission Regulation (EC) on Prospectuses (with Dr Laurenz Wieneke) and sections 17 and 18 German Securities Prospectus Act (WpPG), Holzborn (ed.), Wertpapierprospektgesetz mit EU Prospektverordnung, 2nd edition 2014
  • Haftungsfragen der Debt Relations (with Dr Christian Hartig), Hasler, Launer, Wilhelm (eds), Praxishandbuch Debt Relations, 2013
  • Debt-to-Equity Swap as Restructuring Instrument, Unternehmeredition Restrukturierung 2011, 6/2011
  • Fairness Opinions, Going Public, 10/2010
  • Investitionen in den Fußball – Dabei sein ist alles (with Dr Sebastian Janka), Going Public, 3/2010
  • Attorney-Client Privilege of In-house Counsel, Heidelberg 1999