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Allen & Overy advises European Investment Bank on financing for Heidelberger Druckmaschinen Aktiengesellschaft

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Pruefer Sven
Dr Sven Prüfer

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Frankfurt am Main

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08 April 2016

Allen & Overy LLP advised the European Investment Bank on a EUR 100,000,000 financing for Heidelberger Druckmaschinen Aktiengesellschaft. Heidelberger Druckmaschinen Aktiengesellschaft with its registered office in Heidelberg is a major provider to the global printing industry. The business model of the company is based on the three pillars of equipment, service and consumables. In total, Heidelberg has approx. 12,000 employees worldwide.

The loan from the European Investment Bank is to support the research and development (R&D) activities of Heidelberger Druckmaschinen AG, focusing on digitisation, software integration and expansion of the digital printing portfolio. To help finance the R&D program, which will span several years, the European Investment Bank provides the company with a long-term development loan. This is the first time a large German company has benefited from the European Fund for Strategic Investments (EFSI) – the centrepiece of the Investment Plan for Europe.

EFSI is an initiative launched jointly by the EIP Group and the European Commission to help overcome the current investment gap in the EU. The initiative aims at boosting private investments to increase Europe's competitive edge and create high-quality jobs. A EUR 21 billion EU/EIB guarantee is to encourage additional investments in the real economy in the amount of EUR 315 billion by mid-2018. 

The Allen & Overy-Team comprised partners Dr. Peter Stenz (banking and finance), Dr. Sven Prüfer (corporate), counsel Dr. Jens Gölz (transaction management), senior associate Kathrin Pätzold-Schwarz and associate André Melchert (all banking and finance, Frankfurt). 

In-house coordination of the transaction was supervised at the European Investment Bank by Dr. Dirk Ellerkmann (Legal Department - JU Ops/CE&ENCA) and at Heidelberger Druckmaschinen Aktiengesellschaft by Oliver Heeb (General Counsel) and Dr. Constantin Carl Bettermann (Legal).

Heidelberger Druckmaschinen Aktiengesellschaft was advised by a Clifford Chance team led by Dr. Dietrich Stiller and the commercial banks were advised by a White & Case team led by Dr. Thomas Flatten.