Ashurst advised Oldenburgische Landesbank Aktiengesellschaft on the acquisition financing for the purchase of Bäckerei Schmidt 

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    Ashurst advised Oldenburgische Landesbank Aktiengesellschaft (OLB) as lender on the financing of the acquisition of a majority stake in Karl Schmidt GmbH by Argos Wityu.

    OLB, headquartered in Oldenburg, is a financial institution with more than 150 years of history in northern Germany and serves its customers Germany-wide under the two brands OLB Bank and Bankhaus Neelmeyer. 

    Argos Wityu, an independent European private equity group, has acquired a majority stake in Karl Schmidt GmbH, a leading operator of bakery stores with extended all-day catering in North Rhine-Westphalia and Lower Saxony. The previous majority owner, Odewald KMU, is withdrawing from the company after seven years. The parties have agreed not to disclose the purchase price or further details. This is the eighth investment of the Argos Wityu Mid-Market VIII fund.

    The Ashurst team was led by partner Anne Grewlich. She was supported by counsels Sabrina Bremer and Judit Körmöczi as well as associates Sascha Masuch, Marie-Theres Recifo and transaction lawyer Angela Sieling (all Finance). The team was further strengthened by the expertise of counsels Dr Susanne Knoch (Tax) and Martina Rothe (Corporate), all based in Frankfurt.

    Ashurst's German banking and finance practice advises banks, alternative lenders, private equity investors, and companies on domestic and cross-border acquisitions, real estate, asset, infrastructure/project financing, as well as financial restructuring and corporate lending.