Baker McKenzie advised GRENKE AG on its first share buyback program. With the approval of the company's Supervisory Board, the Board of Directors of GRENKE AG decided to implement a share buyback program.


With this program, shares with a value of up to EUR 70 million are to be acquired via the stock exchange, which corresponds to approximately 5% of the company's share capital.


Baker McKenzie advised GRENKE on all legal issues in connection with the launch of the program and the related approvals.


"We were able to advise GRENKE on the launch of its very first share buyback program and thus contribute to the company's investment opportunity for its shareholders based on the current share price level," commented Dr Katharina Stüber, partner at Baker McKenzie.


GRENKE AG is a global financing partner for small and medium-sized companies based in Baden-Baden, Germany. The core business of the stock corporation is small-ticket leasing of office communication products. GRENKE AG is part of the GRENKE Group, which now has 34 locations in Germany. In total, the GRENKE Group is represented at more than 160 locations in 33 countries worldwide.

Baker McKenzie's Corporate/M&A practice regularly advises on national and international transactions. Most recently, Baker McKenzie advised Knorr-Bremse AG on the sale of a stake in Kiepe Electric GmbH, Pfeiffer Vacuum Technology AG on the conclusion of the domination and profit and loss transfer agreement with Pangea GmbH; Transcom on the acquisition of timeframe, Sika AG on the acquisition of MBCC Group from Lone Star and the sale of MBCC's concrete admixtures business to Cinven, Senwes Ltd. on the acquisition of four agricultural machinery dealers in the former East Germany, AURELIUS on the acquisition of LSG Group from Deutsche Lufthansa AG, Nokian Tyres plc on the sale of its Russian business to Tatneft PJSC, First Solar on the sale of its global O&M business to NovaSource, Fluidra on the acquisition of Meranus Group and Magna on the acquisition of Veoneer Active Safety Division.


Legal advisor to GRENKE AG:
Baker McKenzie

Lead: Corporate/M&A: Dr Katharina Stüber (partner, Frankfurt)

Team: Corporate/M&A: Dr Manuel Lorenz (partner, Frankfurt) 

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