Norton Rose Fulbright advises ADLER Real Estate on the acquisition of shares in Austrian real estate company conwert

Business August 19, 2015

Global legal practice Norton Rose Fulbright has advised ADLER Real Estate AG (ADLER Real Estate) on the acquisition of 24.79 per cent of the shares of Vienna-based conwert Immobilien Invest SE (conwert). ADLER Real Estate acquired all shares of MountainPeak Trading Limited, which holds a 24.79 per cent share in conwert.

ADLER Real Estate is a publicly listed real estate company focusing on developing residential real estate throughout Germany. It will finance part of the share purchase price through the issuance of a mandatory convertible bond to the seller. The EUR 175 million bond has a coupon of 0.5 per cent and a conversion price of EUR 16.5 per ADLER Real Estate share with a maturity of three years. ADLER Real Estate has committed to submit the issuance of the mandatory convertible bond and the creation of conditional capital for approval to the general assembly of ADLER Real Estate shareholders.

The Norton Rose Fulbright team advised on all capital markets and financing aspects of the transaction. The team was led by partner Frank Regelin (corporate/capital markets) and included partners Nadine Bourgeois, Anthony Morton (banking) and Tino Duttiné (tax), as well as of counsel Christoph Naumann (corporate/M&A) and associate Jan-Peter Heise (corporate/capital markets) in the Frankfurt office.

Norton Rose Fulbright has previously advised ADLER Real Estate on various corporate finance transactions such as share capital increases, convertible bonds and bond issues, most recently on the public takeover bid to shareholders of WESTGRUND AG and a bond issue under New York law.

For further information please contact:

Katrin Gneiting, PR & Communications Executive Germany
Tel: +49 89 212148 533; Mob: +49 172 76 975 62
katrin.gneiting@nortonrosefulbright.com

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