Thilo Diehl
Biography
Overview
Thilo is a partner in our global Capital Markets Practice and focuses on equity and debt capital markets transactions as well as public M&A.
Thilo regularly advises issuers, financial investors and underwriters on a wide range of public and private offerings of equity and debt securities, including initial public offerings (IPOs), rights offerings, accelerated primary offerings, secondary offerings, equity-linked and corporate bond offerings as well as high yield bonds. In addition, he focuses on public M&A transactions and regularly advises listed companies on capital markets compliance matters.
Prior to joining the firm, Thilo practiced at another major international law firm, both in its Frankfurt and London offices.
Experience
Deutsche Beteiligungs AG
Advised Deutsche Beteiligungs AG on the successful placement of unsubordinated and unsecured convertible bonds due 2030 for an aggregate principal amount of €100 million.
Delivery Hero
Advised Delivery Hero on the US$950 million sale of its foodpanda delivery business in Taiwan to Uber and on Uber's US$300 million equity investment in Delivery Hero.
Delivery Hero
Advised Delivery Hero on extending the maturity of its existing US$813 million and €300 million term loans, raising additional term loans with an aggregate amount of approximately €740 million equivalent, increasing its existing revolving credit facility to €500 million and borrower-friendly amendments to the loan terms.
Sartorius
Advised a banking syndicate led by joint global coordinators BNP Paribas and J.P. Morgan on the €1.2 billion capital increase without preferential subscription rights by Sartorius Stedim Biotech SA (Sartorius Stedim) and the €200 million placement of treasury preference shares by Sartorius Aktiengesellschaft (Sartorius).
Volvo Cars
Advised the joint global coordinators and joint bookrunners Goldman Sachs, SEB and BNP Paribas a on the US$350 million sale of shares in Volvo Car sale by Geely Sweden Holdings. Geely Sweden Holdings is a subsidiary of Zhejiang Geely Holding Group, a global automotive group holding several international brands including Geely Auto, LYNK & CO, Polestar, London Electric Vehicle Company, Lotus, and Volvo Cars.
Georg Fischer
Advised Georg Fischer on its €2.1 billion voluntary recommended public cash tender offer for all shares in Uponor, a leading global provider of solutions that move water through cities, buildings and homes.
Siemens Energy
Advised a consortium of banks, led by the joint global coordinators Citigroup and Société Générale, on the €1.3 billion capital increase of Siemens Energy.
Deutsche EuroShop
Advised Deutsche Bank as sole global coordinator on the €316 million rights issue of Deutsche EuroShop against contributions in cash and in-kind.
Porsche
Advised Qatar Investment Authority as cornerstone investor on the €9.1 billion IPO of Dr. Ing. h.c. F. Porsche Aktiengesellschaft (Porsche), valuing Porsche at €75 billion.
wefox
Advised wefox on its US$400 million Series D funding round. With a post-money valuation of US$4.5 billion, wefox is one of the highest valued InsurTechs. The Series D financing was led by Mubadala with participation from existing investors including LGT, Horizon Ventures and OMERS Ventures.
J.P. Morgan
Advised J.P. Morgan and JPMorgan Chase Bank on the financing of the €1.4 billion voluntary public takeover offer by Hercules BidCo for the shares in Deutsche EuroShop.
Delivery Hero
Advised Delivery Hero, one of the world’s largest local delivery platforms, on a Term Loan B financing comprising of a US$825 million term facility and a €300 million term facility and a new €375 million revolving credit facility.
JOST Werke
Advised JOST Werke in connection with its conversion to a European stock corporation (Societas Europaea).
Deutsche Lufthansa
Advised Deutsche Lufthansa on the issuance of two tranches of notes with a principal amount of €1.5 billion. The first tranche has a principal amount of €600 million and the second tranche has a principal amount of €900 million. The notes are admitted to trading on the regulated market of the Luxembourg Stock Exchange.
Deutsche Lufthansa
Advised Deutsche Lufthansa on its €2.1 billion rights issue. The net proceeds were primarily used to repay the silent participation I of the Economic Stabilization Fund of the Federal Republic of Germany in the amount of €1.5 billion.
wefox
Advised wefox, a leading pan-European digital insurance business and insurance distribution platform, on its US$650 million Series C financing. With a post-money valuation of US$3 billion, wefox is one of the highest valued InsurTechs. The Series C financing was led by Target Global.
Deutsche Lufthansa
Advised Deutsche Lufthansa on the issuance of two tranches of notes with a principal amount of €1.0 billion, each with a principal amount of €500 million The notes are admitted to trading on the regulated market of the Luxembourg Stock Exchange.
Friedrich Vorwerk
Advised the underwriters on the €414 million IPO of Friedrich Vorwerk and listing on the Frankfurt Stock Exchange (Prime Standard).
Qatalyst Partners
Advising Qatalyst Partners on the €4.9 billion public takeover offer by Renesas Electronics Corporation of Japan for Dialog Semiconductor.
Drägerwerk
Advised Drägerwerk on its €80 million capital increase.
Goldman Sachs
Advised Goldman Sachs as selling shareholder on the US$200 million IPO of Jumia Technologies on Nasdaq.
Symrise
Advised the underwriters, including BNP Paribas and UniCredit, on the €400 million capital increase of Symrise.
Summit Germany
Advised Morgan Stanley and Deutsche Bank as initial purchasers on the €300 million 2.0% bond due 2025 of Summit Germany.
Cinven/JOST Werke
Advised Cinven and JOST Werke on JOST Werke's €230 million IPO and listing on the Frankfurt Stock Exchange (Prime Standard).*
Delivery Hero
Advised the underwriters, including global coordinators Citigroup, Goldman Sachs and Morgan Stanley, on Delivery Hero’s €1 billion IPO and listing on the Frankfurt Stock Exchange (Prime Standard).*
SGL Carbon
Advised the underwriters, including global coordinators Credit Suisse and Commerzbank, on the €180 million rights issue of SGL Carbon.*
Vonovia
Advised Vonovia on its €2.9 billion public takeover of conwert and its attempted €9 billion public takeover of Deutsche Wohnen.*
Midea/Kuka
Advised Midea on its €4.5 billion public takeover of Kuka.*
CVC/Douglas
Advised CVC on the€1.1 billion dual-tranche bond offering to finance the acquisition of Douglas.*
windeln.de
Advised windeln.de on its €205 million IPO and listing on the Frankfurt Stock Exchange (Prime Standard).*
SGL Carbon
Advised the underwriters, including global coordinators Commerzbank and HSBC, on the €267 million rights issue of SGL Carbon.*
Deutsche Annington/Gagfah
Advised Gagfah on its €8.6 billion business combination with Deutsche Annington.*
Techem
Advised Techem on its €1.3 billion dual-tranche bond.*
* Matters prior to joining White & Case.
Best Lawyer Germany in Capital Markets Law, Mergers and Acquisitions Law, Handelsblatt 2021-2023
Frequently recommended lawyer, JUVE 2021/2022
IPOs and Capital Increase – Germany
Recommended lawyer, Legal 500 2022
Capital Markets: ECM - Germany
