Linklaters, Sidley Austin, Clifford Chance, and several other prestigious law firms are playing pivotal roles in advising Crédit Mutuel on its $2.16 billion acquisition of Oldenburgische Landesbank (OLB). This acquisition marks a significant shift from OLB’s initial intention to conduct an IPO, which was ultimately abandoned. The deal is being executed via Targo Deutschland (Targobank), a subsidiary of the French banking giant, Crédit Mutuel, and involves purchasing the entire share capital from OLB’s key shareholders, including Apollo Global Management, Grovepoint Investment Management, and the Texas Teacher’s Retirement System.
Additionally, firms such as Latham & Watkins, Sullivan & Cromwell, Eversheds Sutherland, and German firms Hengeler Mueller and Sernetz Schäfer are also noted for their advisory roles, both in the share transaction itself and in the earlier IPO preparations that were later shelved.
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