Latham & Watkins Advises Siemens Healthineers on Capital Increase of Around €2.34 Billion

Latham & Watkins LLP advised Siemens Healthineers AG (Siemens Healthineers) on a further capital increase with gross proceeds of around €2.34 billion. The 53 million new shares were placed with institutional investors through an accelerated bookbuilding offering at a price of €44.10 per share without a prospectus. The capital increase was carried out utilizing in part the existing authorized capital and excluding the subscription rights of shareholders.

Siemens Healthineers’ share capital will thereby increase to €1.128 billion. Admission of the new shares for trading in the sub-segment of the regulated market with additional post-admission obligations (Prime Standard) of the Frankfurt Stock Exchange is expected to take place on March 26, 2021.

With the net proceeds from the capital increase, Siemens Healthineers will complete the equity-related part of the Varian financing.

Latham & Watkins previously advised Siemens Healthineers on the acquisition of Varian, as well as on the first share placement for the acquisition financing in September 2020.

Latham represented Siemens Healthineers with a team led by Frankfurt partner Oliver Seiler, with partner David Rath and associate Camilla Kehler-Weiß.