Hamburger Hafen und Logistik Aktiengesellschaft’s Scrip Dividend Payment

Hogan Lovells has advised Commerzbank AG on the transaction.

Commerzbank AG payed a scrip dividend and the related rights issue by Hamburger Hafen und Logistik Aktiengesellschaft.

The shareholders’ meeting of Hamburger Hafen und Logistik Aktiengesellschaft resolved a dividend payment of EUR 0.45 per A share on 10 June 2021. The A shareholders were given the choice of receiving the dividend exclusively in cash or partly in cash and partly in the form of A shares of Hamburger Hafen und Logistik Aktiengesellschaft. During the subscription period, shareholders holding a total of 74.54 % of the A shares entitled to dividends chose the scrip dividend instead of the cash dividend. 

Hogan Lovells advised Commerzbank AG in its role as financial advisor and process bank on all issues concerning the structuring and execution of the transaction. The team included Prof Dr Michael Schlitt (Picture – Partner), Mark Devlin (Counsel), Dr Susanne Ries (Of Counsel), Dr Timo Lockemann, Christian Schröder (Associates), Eva-Christina Sommer, Simona Gradišek (Business Lawyer) (all Corporate and Capital Markets, Frankfurt); Dr Heiko Gemmel (Partner), Anne-Svenja de Kiff (Senior Associate) (both Tax, Dusseldorf). 

Inhouse (Commerzbank AG, Frankfurt): Dr Bernd Singhof.

Involved fees earner: Anne-Svenja de Kiff – Hogan Lovells; Mark Devlin – Hogan Lovells; Heiko Gemmel – Hogan Lovells; Simona Gradišek – Hogan Lovells; Timo Lockemann – Hogan Lovells; Susanne Ries – Hogan Lovells; Michael Schlitt – Hogan Lovells; Christian Schröder – Hogan Lovells; Eva-Christina Sommer – Hogan Lovells;

Law Firms: Hogan Lovells;

Clients: Commerzbank AG;

Author: Federica Tiefenthaler