Hengeler pilots Lufthansa in € 2.2 billion fundraising


Hengeler Mueller advises German flagship airline Lufthansa on a fundraising of around 2.16 billion euros.

The move aims to raise capital to repay state aid related to the pandemic, Hengeler said in a statement.

The large German airline company carried out a capital increase through a share offer made in September, issuing 587,928,236 new ordinary shares to be subscribed to at a unit price of € 3.58.

Lufthansa will use the capital raised to largely end its reliance on state stabilization measures spurred by the global pandemic, by repaying a large amount received through the Economic Stabilization Fund of the Federal Republic of Germany (WSF) , the agency responsible for borrowing and debt management. of the Federal Republic, Hengeler said in a statement.

According to the WSF, he will retain a 14.09% stake in the airline but welcomed the capital increase, which, he said, would allow “an accelerated reimbursement of silent contributions” and “would facilitate the initiation of ‘an exit from the WSF “.

The Hengeler team was led by business partners Wolfgang Groß in Frankfurt and Georg Seyfarth in Düsseldorf, and public aid partner Hans-Jörg Niemeyer in Brussels.

Earlier in 2021, Hengeler worked on a similar-sized transaction, advising Adidas on the € 2.1 billion sale of Reebok to US group management firm Authentic Brands Group.


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