M.M. Warburg & CO sells Asset Management in Luxembourg to Apex Group
Hamburg — Allen & Overy LLP has advised Hamburg-based private bank M.M. Warburg & CO (AG & Co.) KGaA (“Warburg”) on the sale of its subsidiaries Warburg Invest Luxembourg S.A. and M.M. Warburg & CO Luxembourg S.A. to Apex Group Ltd (“Apex”), a portfolio company of Genstar Capital. The two divested subsidiaries manage $50 billion in assets under management. Apex had previously acquired Deutsche Bank’s Alternative Fund Service business, among others. — Warburg and Apex will enter into a strategic partnership for Luxembourg-based asset management services.
The transaction is still subject to approval by various regulatory authorities. Completion is planned for the second quarter of 2018. The parties have agreed not to disclose further details of the transaction.
By selling its two subsidiaries, Warburg Bank intends to focus even more on growth in the German market and reduce the complexity of regulatory requirements.
Advisor M.M. Warburg & CO: Allen & Overy Hamburg
The lead partner was Hamburg partner Dr. Nicolaus Ascherfeld (Corporate/M&A), with partners Dr. Heike Weber (Tax, Frankfurt), Dr. Alexander Behrens (International Capital Markets, Frankfurt), Dr. Börries Ahrens (Antitrust, Hamburg) and Daniela Trötscher (Tax, Frankfurt); Of-Counsel Frank Herring (International Capital Markets, Frankfurt), Counsel Max Landshut (Corporate/M&A, Hamburg), Senior Associate Marco Zingler (International Capital Markets, Frankfurt) and Associates Dr. Stefan Witte (Corporate/M&A, Hamburg), Dr. Moritz Meister (Corporate/M&A, Hamburg) and Dr. David Wagner (Labor Law, Hamburg).
From the Luxembourg office, partners Andre Marc (Corporate/M&A) and Henri Wagner (International Capital Markets) as well as counsel Catherine Di Lorenzo, Yannick Arbaut, Serge Hoffmann, Gary Cywie and associate Franz Kerger advised.
The transaction was advised in-house by Dr. Christoph Greiner.
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