ERGO Insurance Group has increased its stake in MediClin AG to over 30% of voting rights. As by doing so ERGO has exceeded the 30% notification threshold and attained control over the company pursuant to the German Securities Acquisition and Takeover Act (WpÜG), it will submit a takeover bid to the shareholders of MediClin at EUR 2.50 per share.
MediClin AG is a nation-wide clinic operator and major service provider in the field of neurological and psychological sciences as well as orthopaedics. The hospitals are acute care facilities – providing primary, secondary and tertiary care – and specialised medical rehabilitation clinics. MediClin has a workforce of approximately 7,900.
ERGO Insurance Group was advised by the following team of Gleiss Lutz lawyers: Dr. Hansjörg Scheel (partner, corporate/M&A, Stuttgart), Dr. Stephan Aubel (partner, capital markets, Frankfurt) (both lead) as well as Dr. Nils Wunderlich, Holger Ebersberger and Susanne Geber (all capital markets, Frankfurt), Dr. Barbara Maske and Daniel Schmidt (both corporate /M&A, Stuttgart).
Dr. Hansjörg Scheel is a longstanding advisor to ERGO Insurance Group. For example, he was involved in the purchases of Zürich Krankenversicherung, Globale Krankenversicherung, BBV Italia and several insurance companies in Eastern Europe. Dr. Stephan Aubel has advised clients on numerous IPOs, including the highly successful listing of centrotherm photovoltaics on the Prime Standard of the Frankfurt Stock Exchange, together with Dr. Hansjörg Scheel.
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