A GÖRG team led by Dr Matthias Terlau and Dr Lutz Pospiech has advised TECHNO-EINKAUF GmbH on the sale of its share package in NÜRNBERGER Beteiligungs-AG as part of the public takeover by the Vienna Insurance Group.
The shares of NÜRNBERGER Beteiligungs-AG are currently traded on the Scale segment of the Frankfurt Stock Exchange and on other German stock exchanges. On 8 August 2025, NÜRNBERGER Beteiligungs-AG announced in an ad hoc notification that the Vienna Insurance Group had entered into an exclusive due diligence review to examine the acquisition of a majority stake in NÜRNBERGER Beteiligungs-AG.
TECHNO-EINKAUF GmbH, together with three other companies, holds a share package of around 19%. The due diligence phase was followed by negotiations on the obligations to offer the directly and indirectly held share packages of the larger shareholders to Vienna Insurance Group.
After the negotiations were concluded, TECHNO-EINKAUF GmbH also issued a binding letter of intent. The Vienna Insurance Group is expected to publish the offer document for the public takeover bid announced on 17 October 2025 in the course of this week.
The GÖRG team provided TECHNO-EINKAUF GmbH with comprehensive advice on capital market and corporate law matters. This concerned the shareholders' meeting of the approximately 95 shareholders of TECHNO-EINKAUF. The shareholders' meeting was asked to authorize the supervisory board of TECHNO-EINKAUF to make a binding decision on the sale of the indirect shareholding in NÜRNBERGER. The next step was to negotiate the terms of this sale with the Vienna Insurance Group.
Advisors TECHNO-EINKAUF GmbH
GÖRG Partnerschaft von Rechtsanwälten mbB
Dr Matthias Terlau (Lead, Partner, Banking and Banking Regulatory Law, Cologne)
Dr Lutz Pospiech (Partner, Stock Corporation and Capital Markets Law, Munich)
Lena Feldle (Senior Associate, M&A, Munich)
Niklas Lamberz (Associate, Banking and Banking Regulatory Law, Cologne)
