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Clifford Chance Punder

Clifford Chance Punder is one of Germany’s leading law firms and is a constituent part of Clifford Chance, the world’s first integrated global law firm. Clifford Chance is a multi-jurisdictional international law firm providing a full range of legal services for all aspects of business and finance with 3,700 legal advisers worldwide. Clifford Chance Punder has over 400 professionals in four offices in Germany, combining local knowledge with global reach to support its clients in their business. The combination of these factors means Clifford Chance Punder is able to provide lawyers who understand the markets within which they are operating, who are familiar with the pressures which clients face and who are able to project manage complex transactions, while delivering consistently high standards and a uniformity of approach across multiple jurisdictions.

Clifford Chance Punder has a team of ten partners and 30 professionals who focus on transactional private equity, based in Dusseldorf, Frankfurt and Munich. This team has an enviable market position in Germany and is an important part of Clifford Chance’s leading European private equity practice. The European practice consists of a dedicated team of 40 partners and over 80 associates based in offices in London, Amsterdam, Barcelona, Brussels, Budapest, Dusseldorf, Frankfurt, Madrid, Milan, Moscow, Munich, Padua, Paris and Warsaw. The European practice is further enhanced by additional private equity practitioners in both the US and Far East. This comprehensive practice has been built on a clear, long-term commitment to the private equity sector and a track record of quality service. Clifford Chance Punder is able to offer a truly integrated product, providing specialist advice on all aspects of private equity: funds, private equity transactions, acquisition finance and tax, coupled with full service support and sector specialisms, such as real estate, energy, CMT or healthcare.

The firm’s market leading position was confirmed at the Chambers and Partners Global Awards in May 2002, where Clifford Chance was voted as one of the leading international private equity firms and was described by Chambers Global Guide 2002-2003 as: “An extremely strong, cohesive team which continues to scoop accolades, having had a good year in the wake of high deal activity involving several of their key clients. Clients value that it covers all areas on a Europe-wide basis with high quality specialists and partners who know what it’s all about.”

Clifford Chance has a long history of advising on leveraged acquisitions throughout Europe and has been at the forefront of advising private equity and other investors on early stage financings, further rounds of fund raising, MBOs/LBOs, take-privates and exit strategies. Clifford Chance Punder regularly advises many of the leading equity providers in the German market and beyond.

Clifford Chance also has a leading international investment funds practice with a unique transatlantic capability; in Germany, this practice operates out of Munich and Frankfurt. The team dedicated to this field has a strong record in establishing and structuring private equity funds on a multi-jurisdictional basis, including country and international funds as well as general and specific (e.g. real estate) funds.

Clifford Chance Punder’s cross-border finance practice is the most comprehensive of any law firm and is an integrated part of the firm’s international finance practice. It works for all the leading commercial and investment banks and has a long track record of pro-active contribution to innovative products and techniques. The firm is a market leader in European acquisition finance, international securitisation and European high yield issues.

Areas of Expertise

*transactional private equity

*public-to-privates

*fund establishment and structuring

*tax structuring

*debt finance and high yield issues

*securitisation and asset-backed financing techniques

*capital markets/IPOs

*competition and anti-trust

*sectoral focus

Clifford Chance’s private equity practice had an excellent year in 2001 with over 30 deals completed with a value in excess of EURO30 billion. This continues into 2002. Highlights of recent German market-related work include:

*ABN AMRO Capital on the acquisition of Loewenplay and Stecco

*CVC Capital Partners on the acquisition of Lenzing

*Halder Funds on the acquisition of a majority stake in Hornschuch AG

*HSBC on the acquisition of Meta Friction

*Siemens AG on the disposal of a portfolio of seven companies. Siemens and Kohlberg Kravis Roberts (KKR), the US buyout firm, agreed to enter into a joint venture which will hold the companies

*Schroder Ventures on the acquisition of a majority stake in Grammer AG and subsequent public tender offer

*Lenders/note purchasers on Callahan Baden-Wurttemberg cable investment

* Lenders on the financing of the acquisition of Cognis

*Lenders on the financing of the acquisition of Viatris

*Senior lenders on the LBO of Messer Griesheim

*Senior lenders on the LBO of Sanitec