Frankfurt Office Advises Bank Syndicate in €460 Million RHÖN-KLINKUM Rights Issue

August 14, 2009

Firm advises bank syndicate led by Commerzbank and Morgan Stanley on the €460 million rights issue of RHÖN-KLINKUM AG -- one of the largest German rights issues in 2009.

The firm recently advised a bank syndicate led by Commerzbank and Morgan Stanley on the €460 million rights issue of RHÖN-KLINKUM AG -- one of the largest German rights issues in 2009. RHÖN-KLINKUM, one of Germany’s leading private hospital operators, increased its capital by €86,380,000.00. In total 34,552,000 new shares were publicly offered in Germany to existing shareholders and, as subscription rights were not exercised, successfully placed in an international private placement in Germany and certain other jurisdictions, including the United States. The new shares have been admitted to trading on the Regulated Market of the Frankfurt Stock Exchange (Prime Standard) and the regulated market of the Munich Exchange.

The Willkie team, led by Prof. Dr. Michael Schlitt (capital markets, Frankfurt), included Jon Lyman (U.S. securities law, London), Dr. Susanne Schäfer (capital markets, Frankfurt), Dr. Michael Bernhardt (corporate, Frankfurt), Dr. Bettina Bokeloh (tax, Frankfurt) and Dr. Christian Rolf (labor law, Frankfurt). Additional assistance was provided by Dr. Thorsten Becker (capital markets, Frankfurt), Danielle Scalzo (U.S. securities law, London), Tobias Dietrich (administrative law/health care, Frankfurt), Dr. Matthias Werner (corporate, Frankfurt), Dr. Octavio de Sousa (corporate, Frankfurt), Jochen Riechwald (labor law, Frankfurt), Sabine Weber (tax, Frankfurt), Carsten Ludwig (tax, Frankfurt), Dr. Michael Rötting (administrative law, Frankfurt) and Pascal Salomon (capital markets, Frankfurt).