Weekly Directive: Regulatory Requirements to Consider
In the dynamic world of mergers and acquisitions (M&A), Germany has once again proven to be a key player. The recent M&A landscape in the country has been marked by significant transactions and strategic advisory roles taken by leading law firms.
One of the most notable M&A deals of the year involves EP Global Commerce GmbH, a Czech holding company owned by billionaire Daniel Křetínský, moving to take Metro AG private. The deal, valued at approximately USD 2.1 billion (EUR 2 billion), is pending approval from the German Federal Financial Supervisory Authority (BaFin). Metro AG, headquartered in Düsseldorf, operates cash-and-carry stores primarily serving professional food procurement clients across Europe and Asia. This transaction is significant for its scale and strategic impact on the German retail sector.
Another firm making significant strides in 2025 is Schalast Law. The German firm has advised prominent German family-owned companies such as Viessmann on major transactions involving companies like Landefeld and Gritec. Schalast Law has strengthened its healthcare & life sciences and property law practices and expanded its corporate/M&A practice, particularly supporting German medium-sized companies to become competitive global innovation drivers. This advisory role reflects a growing trend of legal expertise targeting healthcare startups, biotech, healthtech sectors, and real estate linked with energy sustainability.
In addition to these significant transactions, several law firms have taken on key advisory roles in various M&A deals. Latham & Watkins advised NPM on its first platform investment in the DACH region, and Goodwin advised NPM on the financing of the Elbfrost acquisition. Hengeler Mueller advised Comcast on the sale of Sky DACH to RTL Group, with Freshfields guiding RTL Germany on the same deal. Kirkland & Ellis advised Warburg Pincus on the majority acquisition of safety eyewear manufacturer Uvex, and Poellath advised the shareholder families Winter and Grau on the Uvex acquisition, as well as the management of Dürr Systems on management participation in the same sale.
The sale of frozen food distributor Elbfrost to NPM Capital was also advised by Arqis, while Gleiss Lutz advised wind park operator Nextwind Group on a green syndicated loan of €1.4 billion. Watson Farley & Williams handled the corporate and project law aspects for Nextwind, and Latham & Watkins advised the lenders on the Nextwind loan. Sidley guided Stellex on the Dürr sale, and Herbert Smith Freehills Kramer advised Comcast on regulatory aspects of the same acquisition. Clifford Chance advised BNP Paribas on the acquisition of HSBC's custody and depositary business in Germany.
These transactions and advisory roles highlight Germany’s dynamic M&A landscape characterized by significant cross-border investments and robust legal advisory support for innovation-driven companies. As the year progresses, it will be interesting to see how these trends continue to shape the German business landscape.
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Finance plays a crucial role in the M&A deals taking place in Germany, as evidenced by the billions of dollars changing hands in transactions such as EP Global Commerce GmbH's acquisition of Metro AG and the Uvex acquisition by Warburg Pincus. Investing in these strategic deals is not only confined to corporate entities but also extends to legal firms like Schalast Law, which are bolstering their practices to provide expert advice to German medium-sized companies making waves in innovation-driven sectors like healthcare, biotech, and real estate tied to energy sustainability.
