Ashurst advised conwert Immobilien Invest SE (conwert), one of the largest real estate groups in German-speaking countries, on the execution of a voluntary public tender offer to the shareholders of KWG Kommunale Wohnen AG (KWG).

Prior to the tender offer, conwert held just below 80% of the shares in KWG. Conwert launched a voluntary tender offer to the minority shareholders of the company to acquire up to 13.47% of their shares at a price of EUR 10.80 each. The tender offer was carried out in connection with the delisting of KWG which took place on 20 April 2016. KWG, a company which is geared towards the long-term development of residential properties, was until then listed in the Entry Standard of the Frankfurt Stock Exchange.

The Ashurst team was led by counsel Dr Gerrit Clasen, assisted by counsel Dr Philip Cavaillès and associate Joanna Wilczynska-Gluch, LL.M. (all corporate, Frankfurt).