XXXLutz: public takeover offer for home24
Munich — XXXLutz Group makes public takeover offer for the acquisition of all outstanding shares in home24 SE. The XXXLutz Group was advised by Kirkland & Ellis on this public takeover offer.
In a Business Combination Agreement signed on October 5, XXXLutz and home24 agreed on the key points for future cooperation between the two companies. XXXLutz has already secured approximately 50% of the voting rights through agreements with shareholders. In addition, XXXLutz subscribed to a capital increase from authorized capital amounting to just under 10% of the share capital.
home24 is a leading e‑commerce platform in the home & living sector and is listed in the Prime Standard segment of the Frankfurt Stock Exchange.
XXXLutz operates over 370 furniture stores in 13 European countries and employs more than 25,700 people. With an annual turnover of 5.34 billion euros, the XXXLutz Group is one of the three largest furniture retailers in the world.
Advisors XXXLutz Group: Kirkland & Ellis
Dr. Benjamin Leyendecker, Dr. David Huthmacher (both lead, both Private Equity/M&A), Dr. Michael Ehret (Tax); Associates: Jörg Ruff, Dr. Philipp Keinath, Victor Fiekers, (all Private Equity/M&A), Siegfried Büttner (Capital Markets), Nino Goglidze (Debt Finance)
Kirkland & Ellis is one of the leading firms for high-caliber legal services, with more than 3,000 lawyers in 18 cities in the U.S., Europe and Asia. The Munich team advises with a focus on private equity, M&A, corporate law, capital markets, restructuring, financing and tax law. www.kirkland.com.