Cross-border team advises COMMERZBANK and Deutsche Bank on capital increase of Vossloh AG

Global law firm Norton Rose Fulbright has advised COMMERZBANK Aktiengesellschaft and Deutsche Bank AG on a capital increase of Vossloh AG, which both banks are managing as joint global coordinators and joint bookrunners.

The capital increase is in exchange for cash contributions, making partial use of Vossloh AG's authorised capital, and is intended to partly finance the planned acquisition of the Sateba Group. The share capital of the company will be increased by 10 per cent, excluding the subscription rights of existing shareholders, by issuing 1,756,417 new no-par-value bearer shares, each with a notional interest in the share capital of around €2.84, against cash contributions. The new shares will carry dividend rights from 1 January 2025.

The new shares will be offered exclusively to institutional investors by way of a private placement using an accelerated bookbuilding process. As the main shareholder of the company, KB Holding GmbH has undertaken to participate in the capital increase in line with its 50.09% stake in the company's share capital.

Vossloh AG is an internationally operating technology group that has existed for around 140 years. The company offers a comprehensive range of products and services for rail track, including rail fastening systems, concrete sleepers, switch systems and crossings, as well as innovative and increasingly digital-based services for the entire lifecycle of rails and turnouts.

COMMERZBANK Aktiengesellschaft and Deutsche Bank AG were advised on the capital increase by an international Norton Rose Fulbright team consisting of Dr Benedikt Gillessen (lead, partner, Frankfurt, Corporate and capital markets law) and Thomas Vita (partner, London, US capital markets law).

COMMERZBANK Aktiengesellschaft was also advised in-house by Senior Legal Counsel Dr. Bernd Singhof. Associate General Counsel Dr Joachim Schelm provided in-house advice to Deutsche Bank AG.