US private equity firm Blackstone has reduced its shareholding in Deutsche Telekom AG to less than 3 per cent.
In April 2006 Blackstone acquired approx. 4.5 per cent of the shares in Deutsche Telekom AG from Kreditanstalt für Wiederaufbau (KfW) for a total of 2.68 billion euros. Since then Blackstone has held a seat on the company’s supervisory board.
Gleiss Lutz has now advised Blackstone on the reduction of its shareholding. As of 6 November 2012 Blackstone’s shareholding in Deutsche Telekom AG amounts to 2,93 per cent of shares. Gleiss Lutz’s team consisted of Dr. Jan Bauer (partner, lead) and Dr. Frithjof Behrens (both corporate/M&A) as well Dr. Maximilian von Rom (partner) and Dr. Renata Noglik (both banking/finance, all Frankfurt).
Gleiss Lutz advised Blackstone on its investment in Deutsche Telekom in 2006. It has regularly advised the private equity firm ever since, most recently on its purchase of Jack Wolfskin and a share in Leica Camera AG.
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