Noerr advises Tengelmann group on restructuring KiK and TEDi investment

With a team headed by Dusseldorf partners Rainer Wilke and Natalie Daghles, Noerr has advised the Tengelmann group on restructuring its reciprocal investments with the H.H. group.

As part of the transaction, Tengelmann will acquire the shares currently held by the H.H. group in textile discounter KiK, which was founded in 1994 with effect from 1 January 2021. In return, the H.H. group will acquire the Tengelmann group’s share in non-food discounter TEDi with effect from 30 April 2021.

After more than 25 years of successful cooperation, the two family-owned companies will go their separate ways in the future. The transactions are subject to clearance by the competition authorities.

In-house Tengelmann: Dr Frank Hartmann, Tobias Merz, [Agnes Faragó, Dr Andreas Guldin, Rudolf Goebel]

Legal advisors to Tengelmann: Noerr LLP

Rainer Wilke, Dr Natalie Daghles (both team lead), Dr Benedikt Vogt (all Corporate M&A, Dusseldorf), Dr Jan-Philipp Meier (Corporate/M&A, Hamburg), Dr Björn Grotebrune (Corporate/M&A, Munich), Dr Florian-Felix Marquardt (Tax, Berlin), Dr Sarah Schmidt-Versteyl (Arbitration, Dusseldorf)

Associates: Vanessa Wüsthoff, (Corporate/M&A, Hamburg), Hannah Besting, Philipp Buchs (both Corporate/M&A, Dusseldorf), Jan Voß (Arbitration, Dusseldorf)