Philipp Klöckner LL.M.

The 2025 edition of the prestigious Germany’s Best Lawyers rankings, issued jointly by the Handelsblatt and US publisher Best Lawyers, features 37 attorneys from Milbank LLP. The lawyers selected from the firm’s Munich and Frankfurt offices are recognized for their strong market presence, professional excellence and outstanding reputation.~~Two Awards as "Lawyers of the Year 2025" Barbara Mayer-Trautmann (Finance) Norbert Rieger (Corporate/M&A)~~21 Attorneys Recognized in Main Category – "Best Lawyers 2025" In the main category, "Best Lawyers" the following 21 Milbank attorneys are listed: Norbert Rieger, Sebastian Heim, Steffen Oppenländer, Christoph Rothenfusser, Leopold J. Riedl, Markus Muhs, Martin Erhardt, Ulrike Friese-Dormann, Michael Bernhardt, Andrea Eggenstein, Michael Pujol (all Corporate /M&A); Barbara Mayer-Trautmann, Thomas Ingenhoven (both Finance); Marlene Ruf, Mathias Eisen (both Financial Restructuring); Rolf Füger, Matthias Schell, Thomas Kleinheisterkamp (all Tax); Alexander Rinne (Antitrust & Competition) und Philipp Klöckner, Nico Feuerstein (both Corporate Finance and Securities).~~16 Attorneys Named in "Ones to Watch" Category In addition, 16 Milbank attorneys are recognized as "Best Lawyers: Ones to Watch". This category highlights emerging legal talents who demonstrate exceptional potential. Notably, seven of the Milbank lawyers are included in the list for the first time this year.~~The following attorneys are named among the "Ones to Watch": Pascal Härdtner, Andreas Rief*, Markus von Lutterotti, Sandra Feil, Sarah-Maria Resch, Sebastian Reiner-Pechtl, Steffen Post*, Steven Buschle*, Svenja Tauchmann* (all Corporate/ M&A); Thomas Möller, Alexander Lang, Gerrit Merkel, Anna Merkl* (all Finance), Moritz Lichtenegger*, Martin Juhasz* (both Antitrust & Competition) and Arne Hammerich (Tax). (*recognized for the first time)~~About the Rankings~~Best Lawyers, one of the most respected international legal directory publishers, compiles the German edition of its rankings exclusively for the Handelsblatt each year. The list is based on an extensive peer-to-peer survey in which business lawyers are invited to recommend colleagues whose work they particularly value. The German edition is published annually in exclusive cooperation with the Handelsblatt.

Jun 12

1 min

Milbank LLP advised General Atlantic on the successful placement of shares in ATOSS Software SE with international institutional investors in an accelerated bookbuild offering and the concurrent settlement of a forward purchase and sale agreement entered into between General Atlantic and AOB Invest in June 2023. General Atlantic will primarily use the proceeds from the accelerated bookbuild offering for the concurrent acquisition of approximately 5% in ATOSS under the forward purchase and sale agreement. As a result of the transaction, General Atlantic increases its stake in ATOSS to approximately 21.58%. AOB Invest remains the largest shareholder with approximately 21.59%. ATOSS is a software market leader for professional Workforce Management (WFM) and needs-optimized personnel deployment. ATOSS is listed on the Frankfurt Stock Exchange. General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. General Atlantic combines a collaborative global approach, sector-specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great businesses and management teams to scale innovative businesses around the world. The Milbank team was led by partner Philipp Klöckner and included partners Sebastian Heim, David Dixter and Matthias Schell, as well as special counsel Nico Feuerstein and associates Maria Schweinberger and Christian Kolb.

Sep 6

1 min

Milbank LLP advised EQT Future, EQT’s impact-driven investment strategy, on its joint investment with Kühne Holding in Flix SE. EQT Future and Kühne Holding will jointly acquire a stake of approximately 35% in Flix SE through a combined primary and secondary investment. The closing of the transaction is subject to certain customary conditions and regulatory approvals. Flix offers long-distance bus and train travel solutions in more than 40 countries across four continents. Flix, launched in 2013, swiftly established market-leading positions for long-distance bus travel in Europe, North America and Turkey and is rapidly expanding into South America and India. The Milbank team was led by partners Steffen Oppenländer and Pascal Härdtner (both Corporate/M&A, Munich) and included partners Alexander Rinne (Regulatory, Munich), and Thomas Kleinheisterkamp (Tax, Munich), of counsel Jane L. Hanson (Litigation, New York), special counsel Daniel Illhardt (Corporate/M&A, Munich) as well as associates Maximilian Müller, Maximilian Hirschfeld (both Corporate/M&A, Munich), Jan Maas (Regulatory, Munich), and Bradley Hershon (Litigation, New York). A separate Milbank team, led by partner Sebastian Heim (Corporate/M&A, Munich), advised existing shareholder General Atlantic in connection with its investment in Flix SE and the transaction. The team included partners Matthias Schell (Tax, Munich) and Philipp Klöckner (Capital Markets, Frankfurt), special counsel Sebastian Reiner-Pechtl (Corporate/M&A, Munich) and Nils Bremer (Regulatory, Munich), as well as associates Tim Prakash and Linus Knappe (both Corporate/M&A, Munich). Milbank had previously advised General Atlantic on its first investment in the company as well as consecutive financing rounds.

Jul 8

1 min

Milbank LLP's Banking & Finance and Capital Markets teams were named “Law Firm of the Year Banking & Finance” at the JUVE Awards 2025 ceremony held last night at the Alte Oper Frankfurt. Milbank was also nominated in the “Insolvency and Restructuring” category. The renowned JUVE publishing house presents these awards annually to law firms that have shown particularly dynamic development in one or more specialist areas.~~With this award, JUVE recognizes, among other things, the leading market position of our Capital Markets team led by Philipp Klöckner and its consistent role in advising on major IPOs. In its laudatory speech, JUVE highlighted the team’s work on the successful IPO of Ottobock and the planned IPO of Brainlab, and highlighted the continuous expansion of market share in a volatile capital market environment through strategically smart networking and a reputation for excellent expertise.~~JUVE also recognized that equity capital markets work is just one of several pillars of the practice and that the capital markets lawyers regularly work very closely with the credit finance practice, which has long been one of the key players in the market.~~“The award recognizes the outstanding success and corresponding market perception of our practice group. In 2025, we had the privilege of advising on both the then largest European IPO (SMG Swiss Marketplace Group) and the largest German IPO (Ottobock) — alongside advising on other major IPOs as issuer’s counsel, underwriters’ counsel, and shareholders’ counsel,” said Philipp Klöckner, partner in the Capital Markets practice. “This success is above all the result of the close collaboration between our team and Milbank’s leading Banking & Finance and Corporate/Private Equity practice groups in Germany and across our international offices,” he added.~~Barbara Mayer-Trautmann and Thomas Ingenhoven, both partners in the Banking & Finance practice, add: “This success is the result of outstanding teamwork, deep professional expertise, and a clear understanding of what truly drives our clients forward. Our sincere thanks go to all our colleagues for their exceptional commitment — and to our clients for their continued trust in our capabilities.”

Oct 31

2 min

Milbank LLP advised an affiliate of Apollo in its capacity as majority shareholder of DEMIRE Deutsche Mittelstand Real Estate AG (DEMIRE) in connection with the comprehensive financial restructuring of DEMIRE’s unsecured corporate bond (ISIN: DE000ASYPAK1) with an original outstanding principal amount of EUR 499 million. DEMIRE acquires and holds commercial properties in medium-sized cities and up-and-coming peripheral locations in metropolitan areas throughout Germany. As of 30 June 2024, DEMIRE had a real estate portfolio of 58 properties with a lettable area of around 0.7 million square meters. The shareholder-led financial restructuring transaction comprised, inter alia, a partial redemption of DEMIRE’s bonds at par in the aggregate principal amount of EUR 49.9 million, an extension of the maturity date of the bonds to 31 December 2027 and further comprehensive amendments to the terms and conditions of the bonds, including a 5.00% cash interest rate, a collateralization of the bonds and a revised set of covenants. The amendments to the terms and conditions of the bonds were resolved in accordance with the German Bond Act (Schuldverschreibungsgesetz). As part of the transaction, DEMIRE launched a tender offer for the repurchase of bonds backstopped by certain bondholders. In connection with such tender offer and backstop, DEMIRE repurchased and cancelled bonds in an aggregate outstanding principal amount of approx. EUR 196.7 million. To facilitate the tender offer and the backstop, the Shareholder granted DEMIRE a shareholder loan in an amount of up to EUR 100 million. The aggregate outstanding principal amount of DEMIRE’s bonds was reduced to EUR 253.71 million as a result of the transaction. The Milbank team that advised Apollo on the restructuring, financing, corporate, capital markets and tax aspects of the transaction, was led by partner Mathias Eisen (Restructuring, Frankfurt) and included partners Marlene Ruf (Restructuring, Munich), Yushan Ng (Restructuring, London), Philipp Klöckner (Capital Markets, Frankfurt), Thomas Kleinheisterkamp (Tax, Munich), special counsel Nico Feuerstein (Capital Markets, Munich) as well as associates Alexander Theisen, Carlo Brunold, Sebastian Mayr, Jonas Bonn (all Restructuring, Frankfurt), Christian Kolb (Capital Markets, Frankfurt), Jil Windau, Christoph Wolf (both Tax, Munich), Maximilian Hirschfeld (Corporate, Munich) and Susanne Baier (Finance, Munich).

Nov 13

2 min