Led by Frankfurt partners Dr. Tim Oliver Brandi and Prof. Dr. Michael Schlitt, international law firm Hogan Lovells has advised the Bundesrepublik Deutschland – Finanzagentur GmbH (Finanzagentur) on the participation of the Economic Stabilization Fund (WSF) in the capital increase of Deutsche Lufthansa AG (DLH).
In the course of the capital increase with subscription rights for the shareholders, the existing share capital of DLH was increased from EUR 1,530,221,624.32, divided into 597,742,822 no-par value registered shares, to EUR 3,060,443,248.64. A total of 597,742,822 new no-par value shares were issued. The gross issue proceeds amount to approximately EUR 2,160 million.
The funds used by WSF to participate in the capital increase correspond in amount to the proceeds from the sale of 5% of DLH shares announced on 16 August 2021 and from the sale of part of the subscription rights to which WSF was entitled as part of the capital increase. WSF currently still holds a 14.09% stake in DLH.
Hogan Lovells had previously advised the Finanzagentur on the reduction of the shareholding held by WSF in DLH by up to one quarter (5%).
Hogan Lovells team for Bundesrepublik Deutschland – Finanzagentur GmbH
Frankfurt
Dr. Tim Oliver Brandi (Partner), Prof. Dr. Michael Schlitt (Partner, both lead), Dr. Susanne Ries (Of Counsel), Dr. Timo Lockemann, Simon Kiefer (Associates) (all Corporate/ Capital Markets);
Hamburg
Dr. Marc Schweda (Partner), Nikita Ivlev (Associate) (both Antitrust/ State Aid law).
