KPMG Law advised a banking consortium led by Hannoversche Volksbank eG on the acquisition of an 80 percent majority stake in real estate project developer IMMAC Holding AG. The closing of the transaction is subject to the fulfillment of certain closing conditions.
Hannoversche Volksbank eG is a German cooperative bank with total assets of 8.2 billion euros and a lending volume of 6.4 billion euros. Hannoversche Volksbank acquires 50 percent of IMMAC Holding AG. A further 30 percent will be acquired by the holding company GEORGE Holding GmbH, in which Hannoversche Volksbank and Volksbank in Schaumburg and Nienburg hold shares.
The IMMAC Group operates in Germany, Austria, Ireland and the United Kingdom and develops real estate projects primarily in the healthcare sector with a total portfolio of approximately two billion euros. The real estate projects are then placed in alternative investment funds (AIFs). The Group includes HKA Hanseatische Kapitalverwaltung GmbH, a BaFin-regulated investment company.
Under the leadership of M&A partner Dr. Dr. Boris Schilmar, KPMG Law provided advice on the transaction, from transaction structuring and legal due diligence to negotiation of the transaction documentation, and advised on regulatory aspects under banking supervisory law partner Dr. Andreas Wieland. In particular, during the due diligence and tax SPA consultations, KPMG Law’s legal team worked closely with KPMG AG Wirtschaftsprüfungsgesellschaft’s Deal Advisory and International Transaction Tax experts, who provided tax and business advice.
Consultant Hannoversche Volksbank eG
KPMG Law Rechtsanwaltsgesellschaft mbH:
Dr. Dr. Boris Schilmar
(Partner, Corporate/M&A, Head of International Business, Düsseldorf; Lead Partner), Sebastian Stöhr (Senior Manager, Corporate/M&A),
Dr. Anna Melikov
(Manager, Corporate/M&A, Düsseldorf), Franz-Jakob Schipp (Senior Associate, Corporate/M&A, Düsseldorf), Arijan Shaboviq (Associate, Corporate/M&A, Düsseldorf),
Dr. Andreas Wieland
(Partner, Regulatory Law, Frankfurt/Main),
Felix Brandes
(Senior Manager, Supervisory Law, Hanover), Christoph Meyer (Financing, Senior Manager, Frankfurt/Main), André Kock (Manager, Supervisory Law, Frankfurt/Main),
Jonas Sturies
(Senior Associate, Regulatory Law, Frankfurt/Main),
Dr. Martin Trayer
(Partner, Labor Law, Frankfurt/Main),
Hanna Michalak
(Manager, Labor Law, Frankfurt/Main),
Dr. Rainer Algermissen
(Real Estate Law, Hamburg), Petra Swai (Real Estate Law, Hamburg), Michael Neher (Real Estate Law, Munich), Christina Laux (Senior Associate, Real Estate Law, Frankfurt/Main),
Dr. Gerrit Rixen
(Partner, Antitrust Law, Cologne),
Jaqueline Unkelbach
(Manager, Antitrust Law, Cologne), Tim Haller (Associate, Antitrust Law, Cologne).
KPMG AG Wirtschaftsprüfungsgesellschaft, Deal Advisory: Thomas Gross (Partner, FS Deal Advisory, Frankfurt/Main), Guido Rosenast (Senior Manager, FS Deal Advisory, Zurich), Maria Strotkötter (Manager, FS Deal Advisory, Frankfurt/Main), David Bock (Senior Associate, FS Deal Advisory, Munich)
KPMG AG Wirtschaftsprüfungsgesellschaft, Tax:
Marcus Aberl
(Director, International Transaction Tax, Munich), Thomas Blatnik (Senior Manager, International Transaction Tax, Munich), Janine Grünthaler (Assistant Manager, International Transaction Tax, Munich)
