Heuking Advises The Grounds Real Estate Development AG on the Acquisition of Capstone Opportunities AG by Way of Capital Increase Against Contribution in Kind
July, 2020 - Germany
A team led by Dr. Thorsten Kuthe, capital market expert at Heuking Kühn Lüer Wojtek in Cologne, advised The Grounds Real Estate Development AG on the acquisition of 89.9% of the shares of Capstone Opportunities AG in return for the issue of new shares.
As a result of the capital measure, the share capital of The Grounds will increase by EUR 2,700,000 to EUR 17,805,517. The new no-par value registered shares are entitled to dividends from January 1, 2020. With the contribution of Capstone Opportunities AG to The Grounds, existing major shareholders are increasing their share in The Grounds, thus consolidating their commitment.
The Grounds Real Estate group specializes in the acquisition, project development, and sustainable management of residential real estate in Germany. The Grounds group aims at providing affordable living space. As a full-service provider, The Grounds covers the business areas of Investments (including property/asset management), Development, and Trading.
Capstone Opportunities AG specializes in the acquisition, project development, and sustainable management of real estate in Germany. With a comparable business model to The Grounds, it has several very promising projects in Hesse, North Rhine-Westphalia, and Saxony-Anhalt, where building rights have already been predominantly created.
As a result of the contribution to The Grounds Real Estate Development AG, the total investment volume up to the turnkey construction of the projects increases by EUR 104 million to over EUR 400 million.
Counsel to The Grounds Real Estate Development AG
Heuking Kühn Lüer Wojtek:
Dr. Thorsten Kuthe (Capital Markets, Lead), Cologne
Meike Dresler-Lenz,
Dr. Gero Lingen,
Sascha Beck (all Capital Markets), all Cologne
