Freshfields advises Permira and TeamViewer on the IPO of TeamViewer
Freshfields Bruckhaus Deringer LLP (‘Freshfields’) has advised Permira Funds (‘Permira’) and its portfolio company TeamViewer AG (‘TeamViewer’), the global provider of connectivity solutions, on TeamViewer’s IPO, Europe’s largest in 2019. The prospectus for the IPO was also the first to receive approval from the German Federal Financial Supervisory Authority (BaFin) pursuant to the requirements of the new EU Prospectus Regulation.
TeamViewer, listed on the Frankfurt Stock Exchange on 25 September 2019, saw 84 million shares placed at €26.25, with the proceeds totalling more than €2.2bn. At the issue price, the company has a market capitalisation of more than €5.2bn euros. Permira remains the majority shareholder with 58 per cent.
Freshfields provided comprehensive advice to both Permira and TeamViewer on all aspects of the IPO and the concurrent refinancing of TeamViewer. Freshfields has been advising Permira on its global activities for many years; having also advised Permira on the acquisition of TeamViewer in 2014 and having acted as legal advisor to the investment since then.
The global team was led by partners Markus Paul, Rick van Aerssen, Simone Bono and Sabrina Kulenkamp.