Noerr advises on Steyr Motors AG's IPO on the Frankfurt Stock Exchange

Noerr has acted as lead counsel with a team led by Dr Julian Schulze De la Cruz and Dr Ralph Schilha on the successful IPO of Steyr Motors AG on the Frankfurt Stock Exchange and also advised the SDAX-listed private equity holding Mutares SE & Co. KGaA ("Mutares") on its partial exit. The shares of Steyr Motors AG are expected to be included in trading in the Scale segment of the Regulated Unofficial Market of the Frankfurt Stock Exchange on 30 October 2024.

Steyr Motors AG, headquartered in Steyr, Austria, is one of the world's leading companies in the development and production of special high-performance engines with high power density and durability. The company's engines are mainly used in special military vehicles, boats (both military and civilian) and as auxiliary power units for battle tanks and locomotives.

As part of the IPO, a total of 1,110,000 new and existing shares of Steyr Motors AG were placed with institutional investors at a price of EUR 14.00 per share. The placement comprised 200,000 new shares from a capital increase and 910,000 shares from Mutares' holdings. Steyr Motors AG plans to use the net proceeds from the private placement for the further growth of the company and general corporate purposes.

Hauck & Aufhäuser acted as Sole Global Coordinator and Sole Bookrunner for the IPO.

The team provided legal advice on both the IPO and the preparatory structural measures under company law. Noerr regularly advises Mutares on stock corporation and capital markets law and has advised the private equity holding company, inter alia, on its conversion into an SE & Co. KGaA, on several issues and increases of bonds (Nordic Bonds) with a total volume of EUR 465 million as well as the uplisting to the regulated market and a capital increase in the amount of EUR 100 million.

Advisors to Mutares SE & Co. KGaA: Noerr Partnerschaftsgesellschaft mbB

Lead: Dr Julian Schulze De la Cruz (Partner, Capital Markets, Frankfurt), Dr Ralph Schilha (Partner, Corporate, Munich)

Capital Markets: Dr Philip Schmoll (Associated Partner), Dr Thomas Thies (Senior Associate), Jens M. Göb (Senior Associate, all Frankfurt)

Corporate: Dr Timm Gaßner (Senior Associate), Jana Landhäußer (Associate, both Munich)

Tax: André Happel (Partner), Benedikt Rippert (Senior Associate, both Frankfurt), Dr Michaela Engel (Partner, Munich)

Employment law: Dr. Michael Wilhelm Weber (Counsel, Munich)

Counsel to Steyr Motors AG (Austria): BINDER GRÖSSWANG Rechtsanwälte GmbH