DEAL ANNOUNCEMENT / PRESS RELEASE
McDermott Advises Imfarr and SN Beteiligungen on Joint Acquisition of Former Post-bank-Karrees in Munich from Credit Suisse Asset Management
April 1, 2022
Read time: 3 min
Frankfurt a.M., April 1, 2022 – McDermott Will & Emery advised Imfarr Beteiligungs GmbH of Austria and SN Beteiligungen Holding AG of Switzerland in connection with the financing of the acquisition and project development of the former Postbank-Karree from Credit Suisse.
The former Postbank-Karree near Munich’s main train station will be transformed into a mod-ern office complex called “Elementum”, setting new urban accents in the. Among other things, the ensemble will consist of 67,000 square meters of office, retail and restaurant space, as well as 80 by 30 meters of hillside and woodland, in keeping with the concept of sustainability and climate protection. The total investment volume will be around 1 billion euros.
A McDermott team led by Christoph Coenen and Kian Tauser advised on the tax structuring and financing of the acquisition and project development.
Imfarr Beteiligungs GmbH is a family-owned company, founded in 2007 in Vienna, which specializes in real estate development and real estate investments in Austrian and German cities such as Vienna, Munich, Frankfurt, and Berlin.
McDermott had already advised Imfarr Beteiligungs GmbH on the acquisition of the “Highlight Towers” in Munich, the Frankfurt “Silberturm”, the Nestlé Campus and Development Partner AG, among others. Here, too, the Swiss SN Beteiligungen Holding AG acted as co-investor. The Elementum transaction marks another highlight of the cooperation.
McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. Our team works seamlessly across practices, industries and more than 20 locations to deliver highly effective—and often unexpected—solutions that propel success. More than 1,200 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.
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McDermott Advises Door2Door on Sale to Swvl
DEAL ANNOUNCEMENT / PRESS RELEASE
McDermott Advises Door2Door on Sale to Swvl
March 31, 2022
Read time: 3 min
Düsseldorf, Germany, March 31, 2022 – McDermott Will & Emery advised Berlin-based mobility start-up Door2Door GmbH on the sale of all shares in the company to Dubai-based Swvl Inc. The transaction is expected to close within the second quarter of 2022.
This is the first investment in the German market for transportation-as-a-service provider Swvl Inc. The company was launched five years ago in Cairo as a booking platform for local transport and now offers an app for booking bus rides in 115 cities worldwide. Via a SPAC, Swvl, which is valued at $1.5 billion, plans to go public on the New York Stock Exchange shortly.
Door2Door offers complete solutions for a city’s local transport. This involves coordinating journeys using different means of transport. The offering is currently available in ten European countries.
McDermott advised Door2Door from its founding through all financing rounds to its exit.
McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. Our team works seamlessly across practices, industries and more than 20 locations to deliver highly effective—and often unexpected—solutions that propel success. More than 1,200 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.
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McDermott advises Main Capital and Pointsharp on Acquisition of Cryptshare
DEAL ANNOUNCEMENT / PRESS RELEASE
McDermott advises Main Capital and Pointsharp on Acquisition of Cryptshare
March 31, 2022
Read time: 3 min
Frankfurt a.M., March 31, 2022 – McDermott Will & Emery advised Main Capital Partners and its portfolio company Pointsharp on the acquisition of Cryptshare AG.
The acquisition of the Freiburg-based cybersecurity specialist is the second add-on acquisition for Sweden-based Pointsharp since Main Capital’s entry in 2020, strengthening Pointsharp’s position as a leading security software provider in the European market with currently more than 3,000 customers.
Cryptshare AG, founded in 2000 and headquartered in Freiburg, Germany, develops and sells software solutions for organizations, in particular a communication solution for the secure exchange of information.
Main Capital Partners is a leading software investor in Benelux, German-speaking Europe and the Nordics with over €2.2 billion in assets under management (as of October 2021). Main has invested in more than 130 software companies to date.
The McDermott team led by partner Norman Wasse is particularly experienced with software and tech transactions. The team advised Main Capital on various transactions, most recently on the acquisition of FormSolutions and DataPlan by machgruppe and Audimex by Swedish portfolio company Blika Solutions. McDermott Partner Dustin Schwerdtfeger is advising on all financing matters in connection with the transactions.
McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. Our team works seamlessly across practices, industries and more than 20 locations to deliver highly effective—and often unexpected—solutions that propel success. More than 1,200 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.
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McDermott Represents Spine BioPharma in $13 Million Series B Financing
DEAL ANNOUNCEMENT / PRESS RELEASE
McDermott Represents Spine BioPharma in $13 Million Series B Financing
March 30, 2022
Read time: 3 min
International law firm McDermott Will & Emery represented Spine Biopharma, Inc, a biopharmaceutical company committed to developing non-opiate, non-surgical therapies for the treatment of pain and disability from chronic low back pain caused by degenerative disc disease, in the completion of its $13 million Series B equity financing. The company intends to use the financing to support further development of SB-01 For Injection (SB-01) also known as Remedisc™, a first-in-class therapeutic for the treatment of degenerative disc disease.
- The transaction was closed on March 17, 2022.
- The McDermott team was led by Merrill Kraines and Todd Kornfeld.
- Read Spine Biopharma’s press release here.
McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. Our team works seamlessly across practices, industries and more than 20 locations to deliver highly effective—and often unexpected—solutions that propel success. More than 1,200 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.
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Recent Delaware Court of Chancery SPAC Opinions
COVERAGE
Recent Delaware Court of Chancery SPAC Opinions
Mar 30, 2022
Read time: 2 min
Nathan Barnett and Benjamin Strauss published this article in the Harvard Law School Forum on Corporate Governance.
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Time to Amend BIPA? The Plaintiff, Defense Bar Have Suggestions
COVERAGE
Time to Amend BIPA? The Plaintiff, Defense Bar Have Suggestions
March 29, 2022
Read time: 2 min
David Saunders provided comments to LegalTech News.
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When the Home Office Becomes Common Law
COVERAGE
When the Home Office Becomes Common Law
March 25, 2022
Read time: 2 min
Bring employees back to the office or continue to let them work from home due to high incidences? Companies must now make a choice in order to maintain control. Because without regulation, home office will become common law.
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Acquisition of Audimex: McDermott advises Main Capital on first add-on acquisition for Blika Solutions
DEAL ANNOUNCEMENT / PRESS RELEASE
Acquisition of Audimex: McDermott advises Main Capital on first add-on acquisition for Blika Solutions
March 28, 2022
Read time: 3 min
Frankfurt a.M., March 28, 2022 – McDermott Will & Emery advised Main Capital Partners on the acquisition of Audimex AG by Main portfolio company Blika Solutions AB.
The sellers are Audimex founders and board members, Stefan Berchtold and Markus Hövermann; both will remain on the management team and retain a partial stake through Blika.
Main Capital Partners had acquired the Swedish software developer Blika in October 2021 and is now realizing its first add-on acquisition with the takeover of Audimex. The aim is to build an international software group specializing in solutions for governance, risk and compliance (GRC) processes.
Audimex AG has been developing and selling software solutions for internal auditing and compliance since 1999. Blika Solutions AB offers a modular SaaS system that helps multinational companies comply with complex tax, legal and transfer pricing regulations.
Main Capital Partners is a leading software investor in Benelux, German-speaking Europe, and Scandinavia with over €2.2 billion in assets under management. Main has invested in more than 120 software companies to date.
The McDermott team, led by Norman Wasse and Dustin Schwerdtfeger, regularly assists Main Capital Partners in M&A transactions and financing.
McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. Our team works seamlessly across practices and industries to deliver highly effective—and often unexpected—solutions that propel success. More than 1,200 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.
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Examining the Interplay Between Online Terms of Service and Privacy Notices
COVERAGE
Examining the Interplay Between Online Terms of Service and Privacy Notices
March 25, 2022
Read time: 2 min
Shawn Helms, David Saunders and David Sorenson author this article in Corporate Counsel which examines why terms of service and privacy notices should work in conjunction with one another as well as why its not advisable to incorporate privacy notices into online terms of service.
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Private Credit Is Only Game In Town For Europe As Markets Freeze
COVERAGE
Private Credit Is Only Game In Town For Europe As Markets Freeze
March 25, 2022
Read time: 2 min
Partner Aymen Mahmoud provided commentary on how private credit funds are landing big deals while the European bond and loan markets are all but closed to many junk-rated companies.