26 May – LAWFUEL – The Law News Network – Allen & Overy advised Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München on the sale of 4 million shares in Allianz AG, equivalent to approximately 1 per cent. of the Allianz share capital. After selection of the banks in an auction procedure the shares were sold to institutional investors by way of an accelerated bookbuilding. The proceeds amounted to approximately €375 million.
The Allen & Overy team was led by Frankfurt-based partner Dr. Michael Schlitt assisted by Dr.Susanne Schäfer, Carsten Horn and Michael Gottmann. Daniel Epstein (partner) and Dr. Dorothee Fischer-Appelt (both US law group, London) as well as Elizabeth Flores van de Sande (US law group, Frankfurt) advised on US law aspects. Frankfurt-based partner Dr. Asmus Mihm and Marcus Hierl gave tax advice. Frankfurt-based partner Okko Behrends and Martin Scharnke completed the team.
Michael Schlitt comments:
“Being mandated on another important transaction for Munich Re highlights both the strength of our relationship and the strength of our international equity capital markets team.”