Frankfurt Higher Regional Court approves squeeze-out: takeover of Techem by Macquarie completed

After Marquarie’s successful takeover of Techem AG, the squeeze-out of the minority shareholders became effective on 2 March 2009 - following a resolution adopted by the shareholders' general meeting on 5 June 2008. The squeeze-out has been inscribed into the Frankfurt/Main local court’s commercial register.

On 17 February 2009, the Frankfurt/Main higher regional court had dismissed an appeal filed by minority shareholders of Techem AG against the Frankfurt/Main regional court’s approving the squeeze-out. The approval proceedings initiated by Techem AG were successful – passing through both levels of jurisdiction in less than six months. Trading of Techem stocks has been stopped.

CMS Hasche Sigle successfully represented Techem and Macquarie in court proceedings against the minority shareholders in both levels of jurisdiction. Additionally, CMS Hasche Sigle provided comprehensive advice on restructuring Techem group, in particular on Techem AG’s changing its legal structure into a GmbH and the stock exchange delisting. In this regard, CMS Hasche Sigle also advised Techem on executing the financing treaties concluded in line with the acquisition.

CMS Hasche Sigle Advisers: 
Dr Andreas Zanner, Capital Markets (Lead Partner) 
Dr Hildegard Ziemons, Corporate 
Dr Jochen Schlotter, Corporate 
Dr Rupert Doehner, Corporate 
Alexander Panier, Corporate 
Dr Marc Riede, Banking, Finance and Capital Markets 
Dr Anja Hasselmann-Thiede, Banking, Finance and Capital Markets

Contact: 
Dr Andreas Zanner 
Tel.: +49 (0) 69 / 71701-139 
E-mail: Andreas.Zanner@cms-hs.com