GLNS has advised the bidder Linus Holding GmbH and the private investor standing behind the bidder, Philipp Horsthemke, in connection with the mandatory takeover offer and delisting offer to the shareholders of Linus Digital Finance AG, Berlin (“Linus”).
Linus is a digital real estate financing platform for institutional real estate investments and offers digital financing solutions for real estate sponsors, such as project developers or investors. The shares of Linus (“Linus Shares”) were hitherto, amongst others, admitted to trading on the regulated market of the Frankfurt Stock Exchange (FSE).
On 12 November 2024, Linus Holding GmbH published a mandatory takeover offer in accordance with the German Securities Acquisition and Takeover Act (WpÜG) for the acquisition of all Linus Shares (the “Offer”). The Offer was at the same time structured as a delisting offer in accordance with the German Stock Exchange Act (BörsG), in order to enable the revocation of the admission of the Linus Shares to trading on the regulated market. The acceptance period for the Offer ran until 10 December 2024. The Management Board and the Supervisory Board of Linus have issued a reasoned statement on the Offer.
In addition, Linus and Linus Holding GmbH have concluded a delisting agreement, pursuant to which the Management Board of Linus was obliged, amongst others, to submit a delisting application to the management of the Frankfurt Stock Exchange prior to the end of the acceptance period. According to the decision of the Frankfurt Stock Exchange, the delisting has become effective concurrently with the expiry of the acceptance period for the Offer on 10 December 2024.
GLNS has advised Linus Holding GmbH and the investor standing behind it comprehensively in connection with the Offer and the delisting (Dr. Bernd Graßl, stock corporation and capital markets law; Georg Lindner, corporate law/tax law).