Dewey & LeBoeuf’s Frankfurt capital markets team has advised Baader Bank on the placement of shares of Grammer AG. In total, about 1.1 million shares in the corporation were placed through an accelerated book building.

The shares originate from a capital increase excluding a pre-emption right and were sold to international investors by means of a private placement.

The pre-tax proceeds of the issue amount to €19.1 million and give a boost to Grammer’s balance sheet structure, as well as financing further growth.

The transaction was arranged by Baader Bank AG as global coordinator and sole bookrunner and M.M. Warburg & Co as co-lead manager.

The Dewey & LeBoeuf team was led by Partner Philipp von Ilberg, working with Counsel Kai Göhring.

This was Dewey & LeBoeuf’s first transaction for Baader Bank AG since the bank’s capital markets division was strengthened with a team from Unicredit last year. Dewey & LeBoeuf worked closely with this team whilst they were with Unicredit.

Grammer specializes in the development and production of components and systems for car interiors, as well as driver and passenger seats for off-road vehicles, freight vehicles, buses and trains. Grammer operates 23 companies in 17 countries worldwide and has approximately 8,000 employees. Grammer is represented in the S-DAX and traded on the Munich and Frankfurt stock exchanges, via the electronic trading system Xetra, and over-the-counter on the stock exchanges in Stuttgart, Berlin and Hamburg.