Hogan Lovells advises Commerzbank AG on scrip dividend of Hamburger Hafen und Logistik AG

Led by Frankfurt-based partner Prof. Dr. Michael Schlitt, international law firm Hogan Lovells has advised Commerzbank AG on the payment of a scrip dividend and the related rights issue by Hamburger Hafen und Logistik AG.

The shareholders’ meeting of Hamburger Hafen und Logistik AG resolved a dividend payment of EUR 0.70 per A share on 20 August 2020. The A shareholders were given the choice of receiving the dividend exclusively in cash or partly in cash and partly in the form of A shares of Hamburger Hafen und Logistik AG. During the subscription period, shareholders holding a total of 73.32 % of the A shares entitled to dividends chose the scrip dividend instead of the cash dividend. To create the 1,651,381 new A shares, Hamburger Hafen und Logistik AG increased its share capital by making use of authorized capital. The volume of the proportionate dividend entitlements converted into shares corresponds to EUR 25,165,395.06.

Hogan Lovells advised Commerzbank AG in its role as financial advisor and process bank on all issues concerning the structuring and execution of the transaction.

Hogan Lovells team for Commerzbank AG: 

Prof. Dr. Michael Schlitt (Partner), Mark Devlin (Counsel), Dr. Susanne Ries (Of Counsel), Dr. Timo Lockemann, Christian Schröder (Associates), Eva-Christina Sommer, Simona Gradišek (Business Lawyers) (all Corporate and Capital Markets, Frankfurt);

Dr. Heiko Gemmel (Partner), Anne-Svenja de Kiff (Senior Associate) (both Tax, Dusseldorf).

Inhouse (Commerzbank AG, Frankfurt): Dr. Bernd Singhof