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Noerr advises Flowers on HSH Nordbank acquisition

Noerr has advised JC Flowers & Co on the acquisition of shares in HSH Nordbank.

Certain funds advised by the US private equity firm are acquiring the bank along with the financial investor Cerberus Capital Management as independent investors.
Further investors are the investment companies Golden Tree and Centaurus Capital as well as the Austrian Bawag PSK.
In this transaction JC Flowers & Co relied on the advice provided by Noerr and a team led by Volker Land, co-head of Noerr’s Hamburg office and a financial institutions M&A specialist. The firm’s team advised JC Flowers & Co comprehensively, both during the bid process and on the contract negotiations. As lead counsel, Noerr was also in charge of the overall coordination of the deal.
The closing of the deal is still subject to certain conditions being met. The State Parliaments of Hamburg and Schleswig-Holstein, the EU Commission and the European Banking Authority, for example, still have to give their approval.

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