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Covers the legislative and regulatory framework, cross-border combinations and foreign investment rules, public disclosure and shareholder approval mechanics, taxation and acquisition vehicles, take-private approaches, due diligence and negotiation provisions, breach-of-contract remedies, typical financing terms, collective investment schemes, and update-and-trends from the prior year. 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is the typical transaction structure for real estate M&A involving a publicly traded entity in Germany?","Question",{"text":63,"@type":64},"The guide describes acquisition through a public takeover offer to all target shareholders, sometimes combined with pre-offer market purchases, block trades or tender commitments from anchor shareholders, and/or issuance of new shares.","Answer",{"name":66,"@type":61,"acceptedAnswer":67},"How do transaction processes differ when the target is a privately held real estate entity?",{"text":68,"@type":64},"For privately held entities, acquisition may occur through a share deal, merger, or joint venture, and a public tender offer is neither required nor possible because the entity is not publicly traded.",{"name":70,"@type":61,"acceptedAnswer":71},"What key topics does the guide cover regarding due diligence, negotiation, and remedies?",{"text":72,"@type":64},"It outlines legal due diligence and related topics, common negotiation elements such as non-binding agreements and typical provisions, and remedies for breach of contract, alongside other standard deal-risk areas like typical liability issues.","https://schema.org",{"og:url":32,"og:type":75,"og:title":10,"og:site_name":45,"og:description":12},"article",{"robots":77,"canonical":32},"index,follow",{"doc_id":79,"site_id":7},281336,1791736824,{"code":4,"msg":82,"data":83},"success",[84,88,93,98,103,108,113,118,123],{"id":85,"doc_module":22,"doc_module_name":25,"category_name":29,"show_sort_weight":86,"slug":87},11,90,"presentations",{"id":89,"doc_module":22,"doc_module_name":25,"category_name":90,"show_sort_weight":91,"slug":92},12,"Resumes",80,"resumes",{"id":94,"doc_module":22,"doc_module_name":25,"category_name":95,"show_sort_weight":96,"slug":97},14,"Invoices",70,"invoices",{"id":99,"doc_module":22,"doc_module_name":25,"category_name":100,"show_sort_weight":101,"slug":102},15,"Posters",60,"posters",{"id":104,"doc_module":22,"doc_module_name":25,"category_name":105,"show_sort_weight":106,"slug":107},16,"Social 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Templates",5,"papers-templates",{"id":124,"doc_module":22,"doc_module_name":25,"category_name":125,"show_sort_weight":4,"slug":126},158,"General","general-158",{"code":4,"msg":82,"data":128},{"doc_id":79,"user_id":129,"nickname":42,"user_avatar":130,"doc_module":22,"category_id":85,"category_name":29,"doc_title":10,"doc_description":12,"doc_content":131,"file_id":132,"file_url":133,"file_type":134,"file_size":135,"view_count":55,"is_deleted":4,"is_public":22,"is_downloadable":22,"audit_status":22,"page_count":136,"language":137,"language_code":8,"site_id":7,"html_lang":8,"table_of_contents":138,"faqs":139,"seo_title":140,"seo_description":12,"update_tm":141,"read_time":142},1374402968488,"https://ap-avatar.wpscdn.com/davatar_29158cc5080c5b710cf443261637dec0","Consulting editor  \nCleary Gottlieb Steen & Hamilton LLP  \nREAL ESTATE M&A  \nGermany  \nLexology GTDT-Real Estate M&A  \nReal Estate M&A  \nConsulting editors  \nMatthew P Salerno, Joseph Lanzkron, Jason R Factor  \nCleary Gottlieb Steen & Hamilton LLP  \nQuick reference guide enabling side-by-side comparison of local insights, including into typical structures and processes; legal and regulatory overview, including specific regulations for cross-border combinations and foreign investors; shareholder approval considerations; taxation and acquisition vehicles; take-private transactions; due diligence; typical points of negotiation; remedies for breach of contract; financing; collective investment schemes; and recent trends.  \nGenerated 23 March 2023  \nThe information contained in this report is indicative only. Law Business Research is not responsible for any actions (or lack thereof) taken as a result of relying on or in any way using information contained in this report and in no event shall be liable for any damages resulting from reliance on or use of this information. © Copyright 2006-2023 Law Business Research  \n© Copyright 2006-2021 Law Business Research  \n[www.lexology.com/gtdt](www.lexology.com/gtdt)  \n1/21  \nLexology GTDT-Real Estate M&A  \nTable of contents  \nOVERVIEW  \nTypical transaction structures – public companies  \nTypical transaction structures – private companies Typical transaction process  \nLAW AND REGULATION  \nLegislative and regulatory framework  \nCross-border combinations and foreign investment Choice of law and jurisdiction  \nAPPROVAL AND WITHDRAWAL  \nPublic disclosure  \nDuties towards shareholders Shareholders’ rights Termination fees Takeover defences Notifying shareholders  \nTAXATION AND ACQUISITION VEHICLES  \nTypical tax issues and structuring Mitigating tax risk  \nTypes of acquisition vehicle  \nTAKE-PRIVATE TRANSACTIONS  \nBoard considerations in take-private transactions Time frame for take-private transactions  \nNEGOTIATION  \nNon-binding agreements Typical provisions Stakebuilding  \nCertainty of closing Environmental liability Other typical liability issues  \nSellers’ representations regarding leases  \n© Copyright 2006-2021 Law Business Research  \n[www.lexology.com/gtdt](www.lexology.com/gtdt)  \n2/21  \nLexology GTDT-Real Estate M&A  \nDUE DILIGENCE  \nLegal due diligence Searches  \nRepresentation and warranty insurance Review of business contracts  \nBREACH OF CONTRACT  \nRemedies for breach of contract  \nFINANCING  \nMarket overview Seller’s obligations Repayment guarantees Borrower covenants  \nTypical equity financing provisions  \nCOLLECTIVE INVESTMENT SCHEMES  \nREITs  \nPrivate equity funds  \nUPDATE AND TRENDS  \nKey developments of the past year  \n© Copyright 2006-2021 Law Business Research  \n[www.lexology.com/gtdt](www.lexology.com/gtdt)  \n3/21  \nLexology GTDT-Real Estate M&A  \nContributors  \nGermany  \nOtto von Gruben  \n[otto.von.gruben@lw.com](otto.von.gruben@lw.com)[ ](otto.von.gruben@lw.com)Latham & Watkins LLP  \nTobias Klass  \n[tobias.klass@lw.com](tobias.klass@lw.com)[ ](tobias.klass@lw.com)Latham & Watkins LLP  \nLucas Schweitzer  \n[lucas.schweitzer@lw.com](lucas.schweitzer@lw.com)[ ](lucas.schweitzer@lw.com)Latham & Watkins LLP  \nSebastian von Hornung  \n[sebastian.vonhornung@lw.com](sebastian.vonhornung@lw.com)[ ](sebastian.vonhornung@lw.com)Latham & Watkins LLP  \n© Copyright 2006-2021 Law Business Research  \n[www.lexology.com/gtdt](www.lexology.com/gtdt)  \n4/21  \nLexology GTDT-Real Estate M&A  \nOVERVIEW  \nTypical transaction structures – public companies  \nWhat is the typical structure of a business combination involving a publicly traded real estateowning entity?  \nThe typical structure is an acquisition through a public takeover offer to all target shareholders. The public takeover offer can be combined with (1) market purchases ahead of the offer, (2) arrangements with anchor or major target shareholders on block trades or commitments to tender their shares into the takeover offer or (3) an issua","cbCaivVLsnaT5Vkf","https://ap.wps.com/l/cbCaivVLsnaT5Vkf","pdf",937511,22,"English","# Overview\n## Typical transaction structures – public companies\n## Typical transaction structures – private companies\n## Typical transaction process\n# Law and regulation\n## Legislative and regulatory framework\n## Cross-border combinations and foreign investment\n# Approval and withdrawal\n## Public disclosure\n## Shareholders’ rights and termination fees\n# Taxation and acquisition vehicles\n## Typical tax issues and structuring\n## Types of acquisition vehicle\n# Take-private transactions\n## Board considerations and time frame\n# Negotiation\n## Non-binding agreements and typical provisions\n# Due diligence\n## Legal due diligence and insurance\n# Breach of contract\n## Remedies for breach of contract\n# Financing\n## Market overview and typical equity financing\n# Collective investment schemes\n## REITs and private equity funds\n# Update and trends\n## Key developments of the past year","[{\"question\":\"What is the typical transaction structure for real estate M\\u0026A involving a publicly traded entity in Germany?\",\"answer\":\"The guide describes acquisition through a public takeover offer to all target shareholders, sometimes combined with pre-offer market purchases, block trades or tender commitments from anchor shareholders, and/or issuance of new shares.\"},{\"question\":\"How do transaction processes differ when the target is a privately held real estate entity?\",\"answer\":\"For privately held entities, acquisition may occur through a share deal, merger, or joint venture, and a public tender offer is neither required nor possible because the entity is not publicly traded.\"},{\"question\":\"What key topics does the guide cover regarding due diligence, negotiation, and remedies?\",\"answer\":\"It outlines legal due diligence and related topics, common negotiation elements such as non-binding agreements and typical provisions, and remedies for breach of contract, alongside other standard deal-risk areas like typical liability issues.\"}]","Getting the Deal Through 2023 - Real Estate M&A - Germany - Quick reference guide | PDF",1789565580,8]