Projects: Project Finance/PPP: Germany
THE FIRM This project finance powerhouse draws strengths from its outstanding banking practice to offer an exceptional, broad-ranging service. The team has particular expertise in infrastructure projects in Germany and abroad, and recent mandates include advising a group of major international banks on the EUR2.5 billion financing of the second string of the Nord Stream pipeline. The group also assisted BBVA and KfW IPEX-Bank with the EUR220 million financing operation of the A9 motorway.
Sources say: "A solution-oriented style of working in structuring and due diligence matters." "Absolutely excellent, the clearest advice I have ever received."
KEY INDIVIDUALS English-qualified partner Riko Vanezis is an established figure in the project finance market in Germany and attracts widespread praise for his keen business insight. Vanezis comes highly recommended for his international capabilities. Clients regard Beda Wortmann as "practical and approachable. He works towards solutions and anticipates the counterparties thanks to his good overview of all types of project finance transactions. An outstanding practitioner through and through." Tobias Schulten "always does a good job. His performance and communication with clients is always commendable," say sources. Schulten typically acts for banks and sponsors on energy and infrastructure project finance transactions. Clients recommend the highly experienced Dietrich Stiller, saying: "He has a polite and constructive approach to solving problems. He is always well prepared." Sources applaud the capabilities of Jens Augst, who focuses on infrastructure, building construction and project finance transactions in the energy sector.
THE FIRM This international outfit has remarkable experience in energy projects at both a domestic and international level. The team's combination of public law and complex finance advice makes it one of the most valued in the German market, and it also comes recommended for financing and restructuring work. Recent highlights include assisting HSH Nordbank with several project financings of photovoltaic power plants in Spain. The group also advised a bidder consortium led by HOCHTIEF PPP Solutions and Hermann Kirchner Projektgesellschaft on the extension, operation and EUR299 million financing of a section of the A8 II motorway.
KEY INDIVIDUALS Daniel Reichert-Facilides enjoys a tremendous reputation in this field, and is noted for his excellent negotiation skills and business acumen. Sources regard him as "one of the best-known project finance lawyers in Germany, thanks to his pragmatism and commercial outlook." Clients hail public law expert Michael Schäfer as "innovative and capable of finding acceptable compromises for all parties." Sources applaud senior associate Jens Linde for being "highly efficient." Linde works in the finance department of the Frankfurt office.
THE FIRM This firm continues to enjoy an enviable reputation in the renewable energy field, and is particularly active in projects relating to offshore wind farms and solar farms. The team frequently collaborates with the firm's public and environmental practices to offer a highly integrated service, and has considerable strength in cross-border mandates. Key highlights include assisting Nord/LB with the financing of two solar farms in southern France, and advising the financing banks on a German offshore wind farm project.
Sources say: "Its capacity for large transactions is extraordinary and even then the advice is quick and detailed."
KEY INDIVIDUALS Clients applaud practice co-head Eva Reudelhuber for her structured approach, saying: "Her management team skills are outstanding." Practice co-head Jan Endler works on infrastructure transactions and recently advised John Laing and Alpine Bau on a Frankfurt-based PPP project for the redevelopment, operation, maintenance and financing of 170 bridges.
THE FIRM This firm attracts a starring role in many of the most significant energy and infrastructure projects. The Frankfurt and Munich offices collaborate closely with the Brussels group, giving the team substantial pan-European reach. Recent mandates include advising lending banks on a 420–440 MW gas-steam power plant in Bremen as well as assisting HSH Nordbank with several solar farm projects in France and Italy.
Sources say: "Very responsive and the documentation provided is excellent."
KEY INDIVIDUALS Renowned finance practitioner Dirk Trautmann leads the team and enjoys a strong reputation in motorway projects. Clients appreciate his direct approach, saying: "He is straightforward and thinks of any issues that need to be tackled." Sources applaud Munich-based associate Christian Bauer: "His professionalism and work ethic are admirable." He specialises in the energy, infrastructure, mining and commodities sectors.
THE FIRM This team remains a significant player in infrastructure projects as well as renewable and traditional energy projects. The firm's global network is a strong asset for its international clientele, and the German group is often involved in cross-border deals, such as advising a German financial institution on the project financing of a power project in Central America. The team also assisted an international pension fund on potential investments in a German motorway.
Sources say: "The team never overcomplicates matters."
KEY INDIVIDUALS Managing partner Peter Stenz is a market-leading practitioner for project finance. As one impressed client says, "he is a true professional with excellent negotiating skills." Clients praise banking partner Norbert Wiederholt, saying: "He responds quickly and pushes to find alternative solutions. He is respectful and really listens to the client."
THE FIRM The German offices of this international firm closely collaborate with the London team to work on cross-border energy and infrastructure projects. Key highlights include representing NRW Bank as part of a consortium financing the offshore wind park Borkum West II in the North Sea, and acting for NIBC Bank, DekaBank and DZ Bank on the EUR60 million financing of Bremervörde prison in northern Germany.
Sources say: "Excellent dedication to the client."
KEY INDIVIDUALS Clients applaud Christian Knütel's depth of expertise in energy and infrastructure. "He is pragmatic and truly defends his client's interests without jeopardising the project," say sources.
THE FIRM This global firm has great resources in the energy regulatory and financing sector, and earns recognition for advising banks and sponsors in renewable energy projects. Recent mandates include representing the lenders in the EUR1.2 billion financing of the offshore wind park Meerwind.
Sources say: "Simply excellent and precise advice."
KEY INDIVIDUALS Hamburg-based Stefan Kilgus enters the rankings thanks to widespread market praise. He recently acted for the initial mandated lead arrangers on a EUR1 billion debt financing of an offshore wind farm project.
THE FIRM This firm advises on a wide range of energy and infrastructure projects, benefiting from the team's strong collaboration with its public law colleagues. The team continues to assist with renewable energy projects for banks such as Deutsche Bank, Commerzbank and HSH Nordbank. Other highlights involve advising the German Federal Ministry of Transport, Building & Urban Development with the second round of four German A-model motorway PPP projects.
Sources say: "Strong international capabilities."
KEY INDIVIDUALS Practice head Alexander Reuter recently acted for a bank consortium on the financing of a 13.6 MW photovoltaic power plant in the Czech Republic. He has expertise in finance and energy matters and also writes extensively on these subjects.
THE FIRM Ashurst enters the rankings this year thanks to increased market presence in offshore energy projects and strong capabilities in finance transactions. Based in Frankfurt, the team has growing visibility in the domestic market and has acted on several German motorway projects in recent months.
Sources say: "The team easily manages the process of complex transactions with quick understanding and turnaround."
KEY INDIVIDUALS Frankfurt-based Tom Beckerhoff and Anne Grewlich are the main points of contact.
THE FIRM This independent German firm is an established name in domestic and international mid-market transactions. The team often advises banks and recent highlights include advising Windreich on the financing of the Global Tech I offshore wind park in the North Sea. The team also assisted Windland Energieerzeugungs with the financing of Meerwind.
KEY INDIVIDUALS Michael Ziegler and Dirk Tuttlies co-head the practice out of Munich.
THE FIRM Notable activity in offshore energy transactions and excellent market feedback propel this firm into the rankings for the first time. The project finance team benefits from close collaboration with the highly regarded energy and public law practices and notable highlights include acting for The Blackstone Group on the financing of Meerwind.
Sources say: "A fair and noteworthy practice."
KEY INDIVIDUALS Helge Kortz in Frankfurt is the main point of contact.
THE FIRM This firm has substantial expertise in healthcare, accommodation and energy projects. Project finance is part of the firm's real estate group and the team normally acts for public institutions such as the Federal Ministry of Education & Research, which it advised on the tender procedure for its new building. Other highlights include advising PTC Euregio on the potential construction of a radiotherapy centre.
Sources say: "Excellent team producing detailed and well-prepared work."
KEY INDIVIDUALS Clients enthuse about practice head Achim Meier, saying: "He does not only have the fundamental know-how, but he is also an excellent communicator, project planner and thinker." Sources commend PPP expert Henner-Matthias Puppel for being "reliable, sympathetic and customer-oriented. He has essential knowledge in his practice area."
THE FIRM This strong German firm typically advises public and private entities on accommodation, energy, infrastructure and hospital projects. Recent highlights include advising on the planning and tender process for the construction of Hochtaunus-Kliniken, and assisting the State of Lower Saxony with awarding the contract for the PPP pilot project to construct a correction centre.
KEY INDIVIDUALS Berlin-based Olav Wagner heads the practice here.
THE FIRM CMS maintains an excellent track record in road projects, as well as general infrastructure and accommodation projects. It typically advises lenders, sponsors and public authorities, and recently assisted a bank with the development of a recreation park in Germany. The team also offers a high-quality international service thanks to its strong global network, as seen in its work for a consortium of energy utility companies on the financing of a large offshore wind farm in the North Sea.
KEY INDIVIDUALS Peers applaud Marc Riede's superb negotiation skills, saying: "He always finds the right solution for all parties thanks to his vast experience." Clients hold public law expert Christian Scherer-Leydecker in high regard thanks to his in-depth advice and documentation. As one interviewee declares, "he is a prominent figure when it comes to promoting this industry."
recently joined Kaye Scholer LLP from Simmons & Simmons. Key mandates include advising Santander and DEPFA BANK on the ongoing construction and operational matters of the A8 motorway project. Peers praise Frank Roth
of DLA Piper UK LLP for being a "sharp-minded practitioner."
He is well known for his expertise in PPP and public procurement disputes. Public law and project finance expert Friedrich Hausmann
of K&L Gates recently assisted Bremen port operator bremenports with a PPP offshore wind power farm project. Sources consider Ute Jasper
of Heuking Kühn Lüer Wojtek as an expert in public procurement. Notable highlights include acting for transport association Verkehrsverbund Rhein-Ruhr on its bid for the Dortmund to Hagen and Mönchengladbach to Hagen lines. Clients regard Edouard Lange
of Paul Hastings (Europe) LLP as a leader
in this field and particularly appreciate his depth of expertise and quick turnaround. He recently represented the European Investment Bank in the financing of a power plant, fired by fuel derived from refuse, in Brandenburg.
16th May 2013: GC Seminar, London Sponsor-backed IPOs: IPO Exits of Portfolio Companies
21st May 2013: GC Seminar, New York Hackers Are After Your Data!: Practical Ways To Reduce Data Security Breach Exposure
23 May 2013: Chambers USA Awards for Excellence 2013, New York
24 May 2013: Launch of Chambers USA 2013, New York and online
29th May 2013: GC Seminar, New York Going Mobile: IP and Privacy Considerations
4th June 2013: GC Seminar, Houston Challenges in Creating An Effective and Coordinated Global Compliance Program
9 September 2013: Chambers Latin America Awards 2013, Miami
10 September 2013: Launch of Chambers Latin America 2014, online
3rd October 2013: Chambers Bar Awards 2013, London
10 May 2012: Chambers Europe Awards for Excellence, Amsterdam