Corporate/M&A: Germany

THE FIRM This global powerhouse boasts a substantial corporate team that continues to dominate the German market. Clients value the team's dedication and high-quality work, especially for due diligence and international transactions. Recent highlights include advising Hochtief on the high-profile takeover offer by Grupo ACS and the investment by Qatar Holding, worth a combined EUR4.172 billion.

Sources say: "The lawyers are amazing - they work very hard, day and night." "Freshfields is our firm of choice for difficult transactions."

KEY INDIVIDUALS Peers regard Andreas Fabritius as a brilliant lawyer who is able to make things happen and bring the right people to the table. "If you want a Freshfields lawyer for corporate/M&A work then it's him you choose," say sources. Burkhard Bastuck is a key player in M&A transactions and commentators describe him as "really very skilled." Axel Epe is a respected member of the team and a renowned adviser on company law. Public takeover specialist Christoph von Bülow is now head of the corporate practice group in Germany, Austria and Central and Eastern Europe. Clients appreciate Christoph Seibt for his efficiency and professionalism in complex international transactions: "He is very focused on getting the deal done and constantly pushes the process forward. He is able to handle all sizes of transactions." Seibt recently represented Aurubis in the acquisition of Luvata's assets, worth EUR250 million. Marius Berenbrok has substantial experience in the field of international mergers and acquisitions. Clients appreciate Ludwig Leyendecker for his efficient performance in complex mandates: "He is flawless and keeps to budget, not a single glitch." Peers are unanimous in their praise of Matthias-Gabriel Kremer, who they say "is a great guy and involved in the market's most significant M&A transactions." He recently advised SEB on the EUR555 million sale of its retail banking business to Santander. Nils Matthias Koffka is "very smart and knows how to provide us with quick solutions," enthuse interviewees. Rick van Aerssen is a respected practitioner who is particularly noted for his work in capital markets. Stephan Waldhausen was recently involved in representing the Porsche family shareholders in disposing of Porsche Holding Salzburg to Volkswagen for EUR3.3 billion.

THE FIRM Interviewees are unanimous in their praise of Hengeler Mueller's corporate team, which they regard as one of the strongest in this area. The firm has a fantastic reputation in M&A transactions and is also highly experienced in handling both dual and triple-track equity procedures. Amongst its many highlights, the group recently counselled Commerzbank on a EUR11 billion equity transaction, one of the largest capital measures in Germany. Clients praise the high level of partner involvement and the team's superb knowledge of the local market.

Sources say: "The work is partner-focused and the advice is always well-considered."

KEY INDIVIDUALS One of the most highly regarded corporate lawyers in Germany, Michael Hoffmann-Becking remains a prominent market figure. He advises a number of high-profile clients including the Axel Springer Supervisory Board, and earns widespread recognition: "He is a definite star." Maximilian Schiessl handles a considerable amount of cross-border work, especially from the United States. As one source enthuses, "he is the type of lawyer that everyone likes to have on board. If he is on a transaction you can be sure there is a high level of professionalism." Hans-Jörg Ziegenhain is "one of the best M&A lawyers around," say sources. He has been busy advising various energy providers on corporate matters and agreements with other energy companies. Gerd Krieger attracts a broad range of high-profile clients and is involved in big-ticket litigation cases. He also offers corporate advice at a number of AGMs of companies in the finance, telecoms and manufacturing industries. Sources praise Andreas Austmann for his good client relationship skills and depth of expertise. He led the team representing Porsche Automobil Holding in a downstream merger of listed companies. Burkhardt Meister remains an active figure in this field, recently advising the Gesellschaft für Technische Zusammenarbeit on the merger of German development organisations. The talented Jochen Vetter has considerable corporate insight due to his having acted as corporate counsel on the AGMs of at least five of the DAX30 companies. Rising star Daniel Wiegand enjoys a growing reputation in the corporate arena, particularly for private equity work. Rainer Krause's expertise attracts clients from the real estate, healthcare and telecoms industries. He is extremely active in the Düsseldorf market. Oleg de Lousanoff wins praise for diligently looking after the interests of his clients. He recently advised JCDecaux Deutschland on simplifying and reorganising its group structure.

THE FIRM This international player is specialised in M&A work related to the finance and energy sectors. Recent mandates include advising RWE on the sale of Berliner Wasserbetriebe and providing ongoing assistance to Deutsche Börse with its USD24 billion merger with NYSE Euronext. The group offers a sophisticated cross-border service and is building up its presence and expertise in Asia.

Sources say: "The German desk is very responsive, flexible when coordinating teams, and produces good quality work." "We use it for everything because it is a one-stop shop."  

KEY INDIVIDUALS Clients appreciate Hans-Ulrich Wilsing's decisive and discerning approach to corporate matters, saying "he offers a different view on matters and doesn't hesitate to give critical advice when it's needed." The "strong and knowledgeable" Ralph Wollburg boasts an impressive client base. He is currently leading the team in the proposed Deutsche Börse/NYSE Euronext merger. Achim Kirchfeld has extensive experience in M&A transactions and is currently advising ThyssenKrupp on the ongoing disposal of the Xervon group. Michael Lappe is a key member of the corporate team. Sources highlight his excellent management skills. Rainer Traugott is advising Apax Partners on one of Germany's largest LBOs. Peers cite him as a growing figure of the younger generation and praise his private equity expertise.

Since publication, Michael Lappe has left this practice.

THE FIRM This firm covers the spectrum of corporate and M&A work, with a notable strength in high-value transactions, financing and private equity work. The team is traditionally strong in the energy, infrastructure, healthcare and automotive sectors, and is building a solid name in telecoms-related work, recently handling the Siemens EUR850 million IT solution disposal. International mandates are an important focus of the group and it has been instrumental in the setting up of Clifford Chance's new Istanbul office.

Sources say: "The lawyers are very responsive and always try to keep the whole transaction process simple. The advice is clear and to the point."

KEY INDIVIDUALS Arndt Stengel has acted in a number of significant transactions of late, advising JPMorgan on Liberty Global's takeover of Kabel Baden Württemberg from EQT Partners. Wolfgang Richter specialises in corporate and M&A work in the industrial and automotive sectors. Daniela Weber-Rey receives recognition for her strong corporate advisory portfolio. She is a member of the German Corporate Governance Commission. Clients describe Andreas Dietzel as an "outstanding personality" who is creative in areas of litigation and arbitration. He forms part of the team advising Stadtwerke München on its joint venture with RWE and Siemens on the Gwynt y Môr windpark off the coast of north Wales.

THE FIRM Outstanding feedback, excellent work highlights and a prestigious client base propel this firm up the ranking table this year. The team is highly recommended for M&A transactions, competition aspects and restructuring, and also wins praise for its international capabilities. Amongst its many important mandates, the team advised the State of Baden-Württemberg on the EUR4.67 billion acquisition of EDF's interest in EnBW, one of the largest M&A transactions in 2010.

Sources say: "The team is made up of talented individuals who specialise in certain sectors." "The lawyers are very pragmatic, commercial and give seamless advice."

KEY INDIVIDUALS Practice head Christian Cascante is an important name in the corporate and M&A field, and draws praise for his private equity expertise. He is active on all of the team's major transactions. Gerhard Wegen combines his corporate and M&A expertise with long-standing experience in arbitration proceedings. He recently advised the Australian construction company Leighton on its bid for Hochtief. Gerhard Wirth earns widespread market recognition as a "highly prominent" corporate and M&A lawyer. Peers regard Jan Bauer as a growing name in the corporate market. He formed part of the team advising Infineon on its sale of Wireless Solutions to Intel. Bodo Riegger is an established member of the corporate team known for his publications on specialist corporate and M&A matters. Managing partner Rainer Loges is a well-respected M&A and private equity practitioner, and also boasts a strong cross-border practice. Sources are impressed with Martin Schockenhoff's corporate and litigation expertise. His practice covers joint ventures, capital markets and M&A transactions. Ralf Morshäuser is making strides in the German markets thanks to his activity on a number of key mandates. Peers praise Alexander Schwarz's portfolio of M&A work. Recent highlights include advising Ferrostaal and Lindsay Goldberg on several bidding procedures.

THE FIRM This firm remains a strong choice for high-value M&A work, particularly at an international level. The team represented Qatar Holding on the acquisition of Hochtief shares, and counts NASDAQ OMX, Novartis and International Petroleum Investment Company amongst its clients.

Sources say: "The team is very deal-oriented and has the experience and ability to get things done. It is there for us 24/7, which is what you need in M&A."

KEY INDIVIDUALS The "outstanding" Georg Thoma remains a star corporate player who brings his influence and expertise to bear on crucial transactions. Harald Selzner wins praise for his "commercial mind" and for "not making enemies of the lawyers on the other side." He co-heads the firm's global M&A practice group. Hans Diekmann is "a strong corporate lawyer who brings his experience and intelligence to bear," say sources. He specialises in IPO preparations and mergers involving listed companies. Clients value Roger Kiem's standout negotiation skills, saying "he is very smart, firm, analytical and pragmatic." He recently advised Allianz on its conversion into a European stock corporation. Clients admire Rainer Wilke, saying "when you have him at the table you feel comfortable negotiating tough deals." His key clients include the Axel Springer group and Daimler. Thomas König draws praise for his quick thinking, organisational skills and proven experience. "He co-ordinated firms all over the world and turned things around quickly," is the view of one source.

Since publication, Hans Diekmann has joined Allen & Overy LLP

Since publication, Roger Kiem has joined White & Case

THE FIRM This team, praised for its strength in M&A, capital markets and IPOs, has attracted significant new clients in recent times. The department has also experienced a boost due to numerous lateral hires and promotions, plus the opening of an office in Mannheim. The firm has a strong international footprint, as can be seen in its work for Merck, which it represented in the acquisition of Biotest's Microbiological Monitoring business.

Sources say: "The lawyers are very flexible and amenable to our needs - if I raise an issue with them they will react quickly."

KEY INDIVIDUALS Hans-Christoph Ihrig draws praise for his in-depth expertise. He recently advised the Schaeffler Group on corporate law matters relating to its refinancing. Hartmut Krause is highly respected for his work on public takeovers; he also publishes extensively on this subject. A recent highlight saw him advise Rothschild on the Volkswagen public takeover bid for MAN. Clients praise Astrid Krüger as an "excellent adviser on corporate matters."

THE FIRM This integrated team covers a wide range of corporate matters, and comes highly recommended for regulatory advice and M&A transactions for financial institutions. As is to be expected, the firm has considerable international expertise and is regularly involved in large cross-border mandates. The group has also been busy of late with deals in the energy sector, in particular clean energy. Recent highlights include advising American Express on a USD685 million acquisition of Loyalty Partner.

Sources say: "A perfect performance: the team is always available and dedicated to getting the deal done."

KEY INDIVIDUALS Sources regard Klaus Riehmer as "not only one of the best lawyers in Germany, he's one of the best in Europe!" He specialises in corporate restructurings and public and private M&A transactions, and wins praise for his meticulous approach; "he thinks everything through and his answer is always 100% correct." Clients enthuse about Jürgen Sieger, saying "he is solution-oriented, comes up with important solutions from both a commercial and legal perspective and is extremely hard-working. Without him we would not have the courage to do this project." Oliver Schröder enjoys a solid market reputation, and is well known for his work on cross-border M&A. He recently led the team advising Baloise on its acquisition of Assekuranz Herrmann.

THE FIRM This firm is a growing force in the corporate market, combining long-standing M&A experience with expertise in finance, capital markets and restructuring. The team utilises its worldwide resources to offer clients a truly seamless international service. It recently represented Tognum in the public tender offer made by joint venture partners Daimler and Rolls-Royce, worth USD3.416 billion.

Sources say: "We're very happy with the team - it is effective and dedicated plus the lawyers have a feel for negotiations."

KEY INDIVIDUALS Peers highlight Dirk Oberbracht as "a future heavyweight in M&A." He recently advised Goldman Sachs on Liberty Global's acquisition of Kabel BW, worth EUR3 billion. Joachim von Falkenhausen is a respected practitioner who has been leading the Latham team advising Corsair Capital on the capital increase of MPC Capital. Henning Schneider advised Capgemini on its acquisition of CS Consulting. He is also known for his work in the healthcare sector.

THE FIRM This small but skilled team has boosted its profile in recent months, thanks to its involvement in some of the market's most high-profile cases. One of these was the Deutsche Börse/NYSE Euronext merger, which demonstrates the team's strength in high-value, cross-border mandates. As well as handling complex corporate and M&A work, the firm is also expanding its competition and antitrust law expertise to allow it to offer a fully integrated service.

Sources say: "The firm finds a good balance between understanding German law and German precedent, and the market place. The lawyers have a strong international perspective and are very business savvy, offering both legal analysis and more practical, user-friendly advice."

KEY INDIVIDUALS Clients regard Norbert Rieger as "one of the best corporate lawyers in Germany." He led the team representing NYSE Euronext in its merger with Deutsche Börse. Peter Nussbaum is an experienced private equity lawyer who often assists US institutions on doing business in Germany. Clients particularly value his skill in structuring deals. "Brilliant negotiator" Martin Erhardt boasts a broad corporate practice that covers M&A, corporate advisory and restructuring and insolvency.

THE FIRM Despite the challenges of the economic crisis, this well-regarded firm has expanded significantly and now boasts around 500 lawyers throughout Germany. The team is able to cope with big-ticket as well as mid-cap deals and sources appreciate the group's keen business acumen and strategic approach.

Sources say: "What makes CMS strong is its ability to handle different kinds of relationships very well; it is not too aggressive."

KEY INDIVIDUALS Christian von Lenthe wins praise for his strong technical knowledge. He recently advised HSH Nordbank on the restructuring of Hapag-Lloyd. Thomas Meyding frequently handles mandates with a finance focus, recently acting as lead adviser to eight regional German banks on the indirect sale of their 50% interest in DekaBank. Clients appreciate his patience during tough negotiations, saying "he is calm and serious." Peers say Henrick Drinkuth is "a very good lawyer, he has technical skills in public M&A and he is a nice person on the other side of the table. He can concentrate on important points, but he will accept your position if it is reasonable."

THE FIRM This corporate team combines a strong domestic presence with an international reach. The group recently advised FMS Wertmanagement on the transfer of risk assets and non-strategic business units from Hypo Real Estate Group, with a combined value of EUR173 billion.

Sources say: "The lawyers are very flexible and have experience in various different legal aspects."

KEY INDIVIDUALS Clients are impressed with Christoph Louven, who has participated in a number of international transactions of late. He is representing KLK Berhad Malaysia in the acquisition of the OLEL chemical business from Croda. Christoph Wagner complements his corporate and M&A practice with substantial antitrust and TMT expertise. He wins plaudits for his negotiation style, with one source saying "he is very calm, considerate and solution-oriented. He does not look for conflict but tries to reach the best solution for everyone."

THE FIRM This highly reputed independent firm has been extremely active during the past year, handling a growing number of high-profile cases. The team has also benefited from the opening of a new office in London, which allows it to offer a seamless international service. It remains a popular choice for mid-cap M&A deals and also comes recommended for joint ventures and private equity. 

Sources say: "The firm has long experience and worldwide connections. It works hard for its clients and will provide the results on time."

KEY INDIVIDUALS Co-practice head Alexander Ritvay is known as Noerr's "hotshot lawyer," and has specific expertise in private equity and TMT. He is also active in corporate restructurings. Peers admire Tobias Bürgers, saying "he is reliable, likeable and a pleasure to work with." His broad-ranging expertise covers M&A and capital markets. Thomas Schulz, co-head of the firm's corporate practice, is an increasingly seen figure in both local and cross-border work. US-qualified and fluent in Russian, he has a tremendous international profile and often works on transactions in the energy sector.

THE FIRM This firm enjoys a solid reputation for its corporate and private M&A practice, particularly in due diligence, asset purchase agreements and liability issues. It handles a mix of German and international mandates, recently assisting US company Coty with its absorption of Dr. Scheller Cosmetics into the Coty Germany Group.

Sources say: "The lawyers can think of the broader picture and address issues before we've even thought of them."

KEY INDIVIDUALS Hans Rolf Koerfer has over 20 years of experience in corporate law, making him a formidable market player. As well as having a leading reputation in corporate law, Georg Maier-Reimer also acts as an arbitrator. He recently advised Donata Holding on the move of its registered office to Austria.

THE FIRM Clients appreciate this firm's broad-ranging corporate advice. Key areas include tax, fund structuring, private equity and venture capital transactions. Much of the team's work has a cross-border dimension due to an increase of foreign investment in Germany. Its impressive roster of clients includes Wellington Partners Venture Capital, Puma and Landesbank Berlin.

Sources say: "The team is cost-efficient, very hands-on and reliable."

KEY INDIVIDUALS Sources value Matthias Bruse's calm and considered approach to negotiations, saying "he is extremely personable and down-to-earth; it's always a pleasure working with him." Reinhard Pöllath impresses clients with his analytical advice: "He is one of the most entrepreneurial lawyers I have ever met and is strong for any tax or legal issue."

THE FIRM Schilling recently welcomed a number of high-calibre partners, which has greatly bolstered its corporate practice. It was recently involved in the Deutsche Börse/NYSE Euronext merger, and frequently counsels Deutsche Bank, Deutsche Post and Deutsche Bahn. As well as an established domestic presence, the team is also building up its profile on the international scene. 

Sources say: "The lawyers combine tremendous academic profiles with legal know-how."

KEY INDIVIDUALS Clients describe Jochem Reichert as one of the best corporate lawyers in Germany: "He is target-oriented and good at finding practical solutions. He is also able to establish strong client relationships, and works well in a team."

THE FIRM This international giant offers expertise in the full spectrum of corporate and M&A. Much of its work has a distinct transatlantic flavour and clients praise the team's excellent co-ordination of cross-border deals. A key transaction saw it represent Apax Partners in the EUR970 million sale of a majority stake in IFCO Systems to Brambles of Australia.

Sources say: "I always feel like the team supports my needs. I choose Skadden because it reduces my risk of failure in a transaction."

KEY INDIVIDUALS Clients single out Matthias Jaletzke for large-end M&A transactions and especially value his structuring of deals. Walter Henle earns praise for his flexibility during negotiations. He has long-standing experience in M&A, private equity and LBOs. Bernd Mayer recently advised Süd-Chemie on Clariant's EUR2 billion acquisition of a 96.15% stake. He is notably active in the automotive, chemical, mining and engineering sectors. US-qualified Hilary Foulkes is "business-oriented and time effective," say clients. He offers a highly international practice, providing considerable support to the Moscow team.

THE FIRM This major international firm handled a number of significant financing commissions of late, one being for Clariant in its acquisition of 96.15% of Süd-Chemie from One Equity Partners and family shareholders. This transaction illustrates the team's capacity to handle due diligence, merger control and public mandatory takeovers across multiple jurisdictions.

KEY INDIVIDUALS Jörg Kraffel has substantial experience in the real estate and energy sectors, and is currently advising Vattenfall Europe on the sale of its 25% stake in Rostock and its shareholding in Städtische Werke Aktiengesellschaft Kassel.

THE FIRM This firm's global reach is a definite advantage for clients who require cross-border advice. The team offers in-depth knowledge of the Chinese market, and was recently involved in CQLT's purchase of SaarGummi. The group also boasts a significant number of blue-chip companies in its client portfolio.

Sources say: "The whole experience was excellent. Baker & McKenzie is very responsive, reliable and co-ordinates well with its colleagues throughout the network."

KEY INDIVIDUALS The talented Florian Kästle is popular with peers and clients alike. He is currently advising Rexnord on its acquisition of the whole of fittings manufacturer VAG from Halder and VAG's management.

THE FIRM Commentators commend this firm's robust international practice, a favourite with large, multinational clients. The team handles a vast range of corporate work, with notable strength in private equity and capital markets. The group recently represented Grohe in the first successful German takeover of a Chinese firm, the Frankfurt-listed Joyou. 

KEY INDIVIDUALS Sources hail Gerhard Schmidt as a tough negotiator. His practice covers M&A, tax and corporate restructurings.

THE FIRM This established domestic firm has been extremely busy in recent months, particularly in mid-market M&A transactions. As well as numerous offices throughout Germany, the firm also has bases in Brussels, Moscow, Kyiv, Warsaw and Beijing, making it a solid choice for cross-border deals. The team is advising Rohde & Schwarz on various sale and purchase transactions.

Sources say: "The team is always well staffed with experts from different areas. A brilliant, integrated group."

KEY INDIVIDUALS Thomas Sacher is "number one in the Nuremberg market," say sources. He has tremendous corporate and M&A experience in the media and publishing sectors. 

THE FIRM Renowned for its expert handling of international mandates, this firm advises numerous multinational clients with business both in Germany and elsewhere. The corporate and M&A team encompasses private equity and IP law, and is particularly active in the telecoms, IT and life sciences sectors.

KEY INDIVIDUALS Juergen Reemers in Frankfurt and Ansgar Rempp in Munich are the key contacts for the firm.

THE FIRM This firm is enjoying greater exposure in the corporate market, thanks to its work on Teva's EUR3.625 billion acquisition of Ratiopharm from the Merckle stable. The team covers private equity, restructuring and tax, and clients praise its cross-cultural awareness in international transactions.

Sources say: "The team is effective at integrating business concerns into the contract and defining the most important matters."

KEY INDIVIDUALS Clients acclaim Volker Kullmann for his outstanding management skills and international practice. He led the team in the Teva/Ratiopharm transaction.

THE FIRM This firm is adept at handling complex cross-border mandates for financial institutions and energy sector companies. As well as general corporate advice, the team is involved in capital increases, debt-equity swaps and other distressed M&A transactions. The firm has growing strength in corporate, antitrust and regulatory matters related to the Asia market.

Sources say: "An excellent firm with very capable lawyers who are cool under pressure and possess superb negotiating skills."

KEY INDIVIDUALS Christoph Gaudig specialises in representing investors and corporations in the automotive, chemical, healthcare and IT/telecoms industries.

THE FIRM This firm enters the main ranking table thanks to a highly successful year and widespread positive feedback. The team regularly advises at least three of the DAX30 companies and has a strong track record counselling listed corporations on compliance, corporate governance and D&O liability issues. The team is also recommended for representing family-owned firms.

KEY INDIVIDUALS The distinguished Wolfgang Hölters handles domestic and international M&A, joint ventures and corporate governance, and is also the author of several respected publications on this field. Olaf Müller-Michaels specialises in private equity, financing and venture capital, and is responsible for handling many of the firm's most complex transactions.

Since publication, Wolfgang Hölters has joined Jones Day