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Portrait ofMalte Bruhns

Dr. Malte Bruhns, LL.M. (The University of Edinburgh)

Partner
Rechtsanwalt | Head of the CMS Corporate/M&A Group

CMS Hasche Sigle
Kranhaus 1
Im Zollhafen 18
50678 Cologne
Germany
Languages German, English, French

Malte Bruhns is the global head of the CMS Corporate/M&A Group, which comprises more than 1,400 lawyers in Europe, Asia, the Middle East, Africa and South America, and regarded as a “leading M&A lawyer” according to legal directories. Over the past 20 years, he has advised strategic and financial investors on numerous large-volume and complex transactions across various industries and jurisdictions.

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Führender Name in M&A (bis 50 Jahre)

JUVE Handbuch, 2023/2024

"For me, Dr. Malte Bruhns is one of the best PE/VC lawyers in Germany.", client

The Legal 500 EMEA, 2022

"Recommended" for M&A

JUVE German Commercial Law Firms 2020-2022 (GCLF)

"outstanding, hands-on", client

JUVE German Commercial Law Firms 2022 (GCLF)

Relevant experience

  • United Robotics Group on the acquisition of SoftBank Japan’s robotics business unit and formation of an equity joint venture with SoftBank
  • Sale of an international consulting business with more than 4,200 employees for > EUR 1.2bn to a competitor
  • RAG-Stiftung/RSBG SE/RSI Capital on various M&A transactions with a total value of > EUR 1.3bn
  • CAM Capital on the acquisition of Deutsche Private Equity GmbH from Deutsche Bank and the merger with Altamar Capital Partners, forming a pan-European asset manager with > EUR 17bn assets under management
  • Peakside Capital and Partners Group on the > EUR 550m acquisition of the Omega Portfolio
  • Tata Steel on the sale of its worldwide aluminium roofing business to Mutares
  • Hochtief AG on the sale of its global Real Estate division (formart (instone), HTP, Aurelis, Streiff) with a book value of > EUR 1.4bn in various sales processes
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Publications

  • Bruhns / Stein: Handbuch Immobilienwirtschaftsrecht (Kapitel 5, Projektorganisation und rechtliche Strukturen, Formen der Zusammenarbeit), C.H. Beck Verlag 2022 (Herausgeber Guido Meyer)
  • Unternehmenskauf in der Krise, in: Restrukturierung – Jahrbuch 2013, FINANCE (Hrsg.)
  • Die strategische Kultur der deutschen Sicherheitspolitik, Policy-Brief Globale Fragen (Co-Autor), Stiftung Neue Verantwortung (Hrsg.) 2009
  • Aufklaerung über Mandatsbeziehungen, Financial Times Deutschland 2008
  • Die KGaA als Alternative zur AG beim Börsengang, FINANCE, 3 2008
  • Unternehmenskauf, in: Hdb. Fachanwalt Handels- und Gesellschaftsrecht, Wolters Kluwers 2. Aufl. 2010
  • Vorstandshaftung bei fehlerhafter Kapitalmarktkommunikation, Börsenkompass, 11 2007, p. 42 ff
  • Pledging Shares in German Limited Liability Companies - A Guide For Financial Investors, Law and Financial Markets Review, 1 2007, p. 49 ff
  • Die Verpfändung von GmbH-Anteilen in der Finanzierungspraxis, GmbHR 2006, p. 587 ff
  • Sellers´ Guarantees in NPL Transactions, Insolvency Law & Practice, 3 2005, p. 79 ff
  • Verkäufergarantien bei NPL-Transaktionen, CMS Report, Ausgabe XI 2005
  • Faule Kredite im Visier, Frankfurter Allgemeine Zeitung 2005
  • Verkäufergarantien bei NPL-Transaktionen, Zeitschrift für Bankrecht und Bankwirtschaft (ZBB) 3 2005, p. 207 ff
  • Dienste von allgemeinem wirtschaftlichem Interesse im europäischen Binnenmarktrecht, Diss. Universität Heidelberg 2002
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Lectures list

  • "Key trends in Technology Companies - The impact of cloud, security, mobile, big data and digitalization on growth and M&A", European Corporate M&A Summit, Villa Kennedy, Panelist/Speaker, 21.04.2016
  • "Financing rounds in Venture Capital Transactions", Gründerszene seminar, Cologne 09.05.2012
  • "Damages in M&A Transactions – what are they and who gets them?", M&A D/A/CH Strategy Summit 2012, Königstein i.T., 09.05.2012
  • "Joint Ventures in Property Development", immoebs seminar, Cologne, 12.03.2012
  • "Real Estate Transactions via Share Deals", Eurohypo 13.12.2011
  • "Pitfalls in cross-border M&A transactions", CMS CMCK Corporate Department, London 02.03.2010
  • "Corporate Restructuring", Workshop, Juristische Fakultät Universität Bonn, 14.05.2009
  • "2. M&A Deal-Werkstatt" (Veranstalter Sal. Oppenheim und FINANCE), Panelteilnehmer, Bonn, 12.08.2008
  • "Abwehrmaßnahmen gegen feindliche Übernahmen", nationale Tagung FB GesR CMS Hasche Sigle, Frankfurt a.M., 12.04.2008
  • "Mergers & Acquisitions", Workshop, Juristische Fakultät Universität Bonn, 7.11.2007
  • "MoMiG – GmbH Reform", Heymanns Fachseminar, Köln, 26.10.2007
  • "Share Investments 2006", Panelteilnehmer, Börsentag, Köln 18.11.2006
  • "Investor Strategies in NPL Transactions", Convent Real Estate Konferenz 2006, Frankfurt a.M. 7.06.2006
  • "Unternehmenskauf", halbtägiger Seminar-Workshop, Juristische Fakultät, Universität Bonn, 23.05.2006
  • "M&A Workshop", halbtägiger Seminar-Workshop, Juristische Fakultät, Universität Bonn, 21.06.2005

various client seminars, especially on topics relating to corporate law and M&A

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Education

  • 2001 - 2003: Trainee lawyer at Higher Regional Court Hamburg
  • 1999 - 2001: Doctorate in European Corporate Law (Dr. iur.) at the Institute of German and European Corporate and Business Law, University of Heidelberg
  • 1998/1999: Master of Laws (LL.M.) at the University of Edinburgh, Old College
  • 1993 - 1997: Law Studies at the University of Heidelberg
  • 1993: Abitur (German A-levels) at the International German School of Brussels, Belgium
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Feed

24/05/2024
Nordic Webinar Series: CMS M&A Study 2024
Second Edition in Stockholm, SwedenThe second Nordic webinar of the CMS M&A Study took place at the CMS Wistrand office in Stockholm, Sweden. This event followed the inaugural Nordic edition, which was hosted at CMS Kluge in Norway. We were pleased to have our colleagues from CMS Kluge join us for the second edition in Sweden. For more information and to access related resources, please find the link below.
09/04/2024
CMS European M&A Study 2024: Optimism for M&A amid evolving market trends
The CMS Corporate/M&A Group is pleased to launch the 16th edition of the European M&A Study.It's been a wild ride for mergers and acquisitions (M&A) around the world this year. Yet, despite the turbulence...
21/03/2024
CMS European M&A Study 2024
Frankfurt/Main – CMS has announced the findings of the 16th edition of the CMS European M&A Study 2024, offering an in-depth analysis of the mergers and acquisitions landscape based on transactions CMS advised on. The Study analyses a record 559 deals throughout 2023, indicating the resilience and adaptability of the European M&A market amidst challenging global conditions. The high number of completed deals is testament to CMS’s strength in the market, despite the well-documented general downturn in deal activity across the globe. The 2024 Study reveals key trends in the M&A sector, including a notable shift in deal-making strategies, a rise in ESG due diligence and strategic investments outpacing financial investments. Despite a complex macroeconomic environment, the Study identifies a robust pipeline of deals for 2024, underpinned by a gradual stabilisation in the market, with lower interest rates and lower inflation. Key Findings and Takeaways: Sustained Deal Activity: Despite geopolitical tensions and economic challenges, 2023 witnessed a resilient M&A market, with CMS advising on a record number of deals. This resilience signals a robust appetite for strategic acquisitions and a promising outlook for 2024. Pricing Structures Shift: There was a notable decrease in purchase price adjustments (PPAs) and earn-outs, suggesting a move towards more stable and predictable deal structures. This trend suggests increasing confidence in valuation accuracy and financial stability. However, the reduced use of locked box structures in smaller transactions indicates lingering uncertainty regarding pricing. ESG Still Emerging in Deal Considerations: While specific ESG due diligence has seen an uptick, rising to 47% from last year's 33%, the incorporation of ESG factors into deal structures remains modest. This area is expected to grow as regulatory and reputational pressures increase. Rise in Strategic Investments: The study observed a significant presence of strategic investors both as buyers and sellers, indicating a strategic reshaping of business portfolios in response to evolving market conditions. Risk Allocation: The standard limitation period for operational warranties, although reducing, remains between 12 to 24 months across most transactions, with liability caps below 50% of the purchase price being seen in the majority of cases, maintaining consistency with previous years.W&I Insurance Stability: The utilisation of Warranty & Indemnity insurance in European deals, particularly in the larger transactions, has stayed consistent with 2022 levels, with the UK leading in its use. Geopolitical and Economic Factors: The Study acknowledges the ongoing impact of geopolitical tensions and economic uncertainties on deal-making but also points to recovering confidence in the debt markets and potential boosts from election cycles. Louise Wallace, Global Head of the CMS Corporate/M&A Group, said: “The insights from this year's Study not only highlight the resilience of the European M&A market but also point towards interesting and evolving trends that will shape the future of deal-making. Our dedication to providing unparalleled guidance has never been more relevant.”Dr Malte Bruhns, Global Head of the CMS Corporate/M&A Group, added: “Our analysis reveals a market in transformation, adapting to global challenges while identifying new opportunities. This resilience and adaptability underline the strength of our M&A advisory services.” Conclusion: The CMS European M&A Study 2024 underscores an optimistic outlook for M&A activity in Europe in 2024, highlighting resilience amid economic challenges. Key trends indicate a shift towards seller-friendly dynamics and robust deal flow, fuelled by improved market confidence and strategic entry into new markets. Read the full CMS European M&A Study 2024 here. Press Con­tact presse@cms-hs. com
21/03/2024
CMS European M&A Study 2024
The CMS Corporate/M&A Group is pleased to launch the 16th edition of the European M&A Study
24/01/2024
CMS advises TowerBrook portfolio company TXO on acquisition of Teqport...
Cologne – TXO, a portfolio company of private equity investor TowerBrook Capital Partners, has acquired all shares in Teqport Services GmbH, based in Solingen (North-Rhine West­falia/Ger­many). Teqport Services is a leading tech-enabled network service provider in the field of asset recovery management and specialises in network decommissioning and rationalisation. Its customer portfolio includes major infrastructure companies in Europe, particularly in the tele­com­mu­nic­a­tions sector. TXO is a circular economy services provider for the global tele­com­mu­nic­a­tions industry. This is the latest in a series of moves from TXO to grow its offering and expand globally. The acquisition of Teqport Services forms part of TXO’s global strategy to be the leading circular economy service partner for network operators both organically and through strategic ac­quis­i­tions. All parties involved have agreed not to disclose details of the transaction.A CMS team led by lead partner Dr Malte Bruhns and Ole Weyand provided comprehensive legal advice to TXO and TowerBrook in the course of the transaction. This included in particular the drafting and negotiation of the transaction documents. The CMS team also advised on the closing of the transaction which took place in December 2023. CMS Germany Dr Malte Bruhns, Lead Partner Laura Christin Stein, Partner Ole Weyand, Senior As­so­ci­ate Phil­ipp Knopp, Senior Associate Dr Henrik Meurer, Associate, all Corporate/M&A Kai Neuhaus, Partner Kirsten Baubkus-Gerard, Senior Associate, both Antitrust, Competition & TradePress Con­tact presse@cms-hs. com
11/01/2024
CMS Corporate / M&A Global Brochure
Navigating for success | Your business is our business Our premier practices in Europe’s powerhouse jurisdictions consistently handle the largest volume of M&A deals, engaging highly qualified teams across geographies in a seamless collaboration saving our clients time and money. This is why we do more deals in Europe than any other firm. Our unique combination of deep local expertise and unparalleled global perspective empowers us to put together highly experienced, agile, cross-de­part­ment­al teams to handle the largest mul­tijur­is­dic­tion­al M&A transactions for the benefit of our market-leading clients. This is why our clients love us. CMS has engaged in building strong sector focuses for many years, before most of our competitors realised the importance of doing so. We are now a global leader in corporate work in many key economic sectors such as Energy and Climate Change, Hospitality & Leisure, Private Equity, TMC, Insurance, Consumer and Retail, Infrastructure and Projects, Life Sciences and Healthcare, where we act for many of the world’s leading public and private companies, financial institutions and funds. This is why clients from all business sectors keep coming back to us. Changing the face of law with our unusually strong focus on innovation and creativity, we believe in an open, next-gen mind-set, skill in listening and bold commitment to new and innovative ways of working for the benefit of our clients and of our people. This is why we are future-facing. Download our report below & learn more about our deals!
15/11/2023
CMS Expert Guide to Public Takeovers in Germany
1. Are takeovers of listed companies regulated? Yes – the German Acquisition and Takeover Act (Wer­t­papier­er­werbs- und Über­nah­mege­setz,"Act") governs public offers for securities of target companies...
Comparable
27/10/2023
CMS advises U1ST Sports S.A. on the acquisition of a majority stake in...
Cologne/Munich - The Spanish U1ST Sports S.A., headquartered in Madrid, has acquired a majority stake in Mothership Talents GmbH from its founders. U1ST, founded in 2002 and represented in 14 countries...
18/09/2023
40th Anniversary European General Counsel Forum
CMS proudly supporting European Company Lawyers Association (ECLA).
13/09/2023
Turning the corner? CMS European M&A Outlook 2024
43% of dealmakers predict a decline in European M&A activity over the next 12 months, whilst 36% foresee an increase, with private equity dealmakers displaying heightened optimism. This time last year...
13/09/2023
Turning the Corner? CMS European M&A Outlook 2024
We are pleased to share with you the 2024 edition of the European M&A Outlook, published by CMS in association with Mergermarket.
28/06/2023
CMS Expert Guide to International ECM Listings
Equity markets offer exciting opportunities for businesses to raise capital, but with different markets in different jurisdictions providing access to different investors, companies need to consider carefully...