Hogan Lovells advises Erste Abwicklungsanstalt on the acquisition of risk assets and non-strategic business units of WestLB

FRANKFURT, 10 May 2010 - Hogan Lovells advised Erste Abwicklungsanstalt (EAA) on the acquisition of risk assets and non-strategic business units from WestLB AG and some of its subsidiaries in the total nominal amount of €71 billion. The assets were transferred to EAA on 30 April with retroactive effect as of 1 January 2010. We advised EAA in all relevant legal aspects of the transaction.

EAA is organised as a German public sub-agency under the auspices of the German Financial Market Stabilisation Agency which is responsible for administering the German Financial Stabilisation Fund. EAA was established in December 2009 to act as a "wind down agency" for risk positions and certain non-strategic business segments acquired from WestLB.

Hogan Lovells' team for EAA:

Lead partners:
Franz-Josef Schöne (Corporate/M&A)
Tim Brandi (Corporate/M&A, Banking Regulatory)
Sven Brandt (Finance and Banking Regulatory, Capital Markets)

Further team members:
Christoph Louven, Holger Stabenau, Olena Tokman (all Corporate/M&A), Richard Reimer (Banking Regulatory), Julian Fischer, Anna Rogge (all Finance, Capital Markets), Michael Dettmeier, Heiko Gemmel (all Tax), Martin Sura, David Juentgen (all Antitrust), Marcus Schreibauer (IP/IT, Data Privacy), Kerstin Neighbour (Employment).

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