Shearman & Sterling has advised Qatar Holding LLC on the acquisition of a 9.1 percent shareholding in Essen-based construction services provider Hochtief AG, making Qatar Holding a new major shareholder of the company.
To allow for the investment of Qatar Holding, Hochtief increases its capital stock by around ten percent under exclusion of subscription rights of existing shareholders. The capital increase will be carried out by issuing 6,999,999 no-par-value shares against cash contributions. Qatar Holding will acquire all newly issued shares for a price of 57.114 Euro per share.
Qatar Holding is the strategic and direct investment arm of QIA (Qatar Investment Authority). In 2009, Shearman & Sterling advised the holding and QIA on the investment in Volkswagen and Porsche.
Qatar Holding was advised by the following Shearman & Sterling attorneys: partners Roger Kiem (Frankfurt-Mergers & Acquisitions), Katja Kaulamo, Marc Plepelits (both Frankfurt-Capital Markets) and Marco Sustmann (Düsseldorf-Mergers & Acquisitions) and associate Andreas Löhdefink (Frankfurt-Mergers & Acquisitions).
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