ADO Properties’ Acquisition of Consus Real Estate


White & Case LLP has advised ADO Properties S.A. on the deal.

Luxembourg-based real estate company ADO Properties S.A. (ADO) completed a further step towards its planned acquisition of leading real estate developer Consus Real Estate AG (Consus).

On December 15, 2019 ADO had announced that it had entered into an agreement with Aggregate Holdings S.A. (Aggregate) to acquire a majority stake in Consus. ADO has now exercised the call option to acquire control of Consus and has completed the settlement.

In the course of the acquisition, ADO had announced that it would submit a voluntary public tender offer to all minority shareholders in Consus. ADO has received irrevocable commitments to accept the tender offer, which will lead to a stake of more than 80 percent.

White & Case previously advised ADO on offers for ADLER Real Estate Aktiengesellschaft (ADLER) and WESTGRUND. Following ADO’s takeover of ADLER, the acquisition of Consus will create the fourth largest listed residential real estate company in Europe by total property value.

The White & Case team which advised ADO on the transaction included partners Roger Kiem (Picture), Tobias Heinrich, Lutz Krämer, Gernot Wagner, Rebecca Emory, Thilo Diehl (all Frankfurt), Stefan Bressler (Frankfurt & Hamburg), Bodo Bender, Karsten Wöckener, Andreas Lischka, Alexander Kiefner and Holger Wolf (all Frankfurt), local partners Sebastian Pitz and Tim Bracksiek (both Frankfurt), and associates Nico Frehse (Hamburg). Patrick Schoelles, Marianna Frenkel, Robert Nachama and Sandra D’Ascenzo (all Frankfurt).

Involved fees earner: Bodo Bender – White & Case; Tim Bracksiek – White & Case; Stefan Bressler – White & Case; Sandra D’Ascenzo – White & Case; Thilo Diehl – White & Case; Rebecca Emory – White & Case; Nico Frehse – White & Case; Marianna Frenkel – White & Case; Tobias Heinrich – White & Case; Alexander Kiefner – White & Case; Roger Kiem – White & Case; Lutz Krämer – White & Case; Andreas Lischka – White & Case; Robert Nachama – White & Case; Sebastian Pitz – White & Case; Patrick Schölles – White & Case; Gernot Wagner – White & Case; Karsten Wöckener – White & Case; Holger Wolf – White & Case;

Law Firms: White & Case;

Clients: ADO Properties ;