Global law firm Norton Rose Fulbright has advised Wüstenrot Bausparkasse AG, a group company of the Stuttgart Wüstenrot & Württembergische Group (W&W), on the acquisition of Aachener Bausparkasse AG (ABAG), a private-sector home loan and savings association. The transaction is still subject to the consent from the antitrust and supervisory authorities.
Following the acquisition, W&W enters into a long-term cooperation with the former owners of ABAG, comprising nine independent insurance companies, and will become their exclusive product partner. Wüstenrot's additional new business volume per year amounts to a three-digit million figure.
The Norton Rose Fulbright team based in Munich was led by partner Eva-Maria Barbosa and also comprised Dr. Andreas Börner, Dr. Christina Lorenz, Dr. Daniel Peppersack and Jürgen Schlinkmann (corporate/insurance), Jamie Nowak, Markus Müller and Dr. Nikolaus Wank (dispute resolution, IT, data protection) as well as partner Tino Duttiné and Dr. Frank Bayer (tax). Additional assistance was provided by Dr. Maxim Kleine and Dr. Tim Schaper (antitrust and competition) based in the Hamburg office.
The acquisition of Aachener Bausparkasse is the third acquisition by Wüstenrot in the field of house savings within the last decade. Norton Rose Fulbright has previously advised W&W on their acquisition of Münchener Vereinsbank Victoria Bauspar AG and more recently on their acquisition of Allianz Dresdner Bauspar AG.
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