A 60% share in Norddeutsche Wohnbau GmbH has been sold to Hannoversche Volksbank

S & S Immobilien Holding GmbH has sold its 60% stake in Norddeutsche Wohnbau GmbH to Hannoversche Volksbank eG.

Norddeutsche Wohnbau was established in 2016 and today operates as a successful German developer for residential and mixed use residential and commercial building projects. With its own architectural subsidiary, the company provides comprehensive services for its own projects and to the market. Norddeutsche Wohnbau develops projects in northern Germany and is based in Hannover.

Hannoversche Volksbank eG is a cooperative bank based in Hanover. With total assets of approximately US$7.7 billion, it is the largest Volksbank in northern Germany. It is a reliable partner for financing medium-sized companies and projects in the real estate sector. The bank’s business territory covers the city and large parts of the Hanover region as well as the city of Celle and the Hildesheimer Börde region. The bank is owned by 124,000 members of the cooperative.

Oaklins’ team in Germany acted as the exclusive financial advisor for the sellers in this transaction.

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M&A sell-side

Parties

“We are pleased that in Hannoversche Volksbank we have found a partner for our subsidiary that, with its many years of extensive expertise in this area, will contribute to the stable continuation and growth of Norddeutsche Wohnbau GmbH.”

Heiko Schramm and Christian Schoen

Shareholders and Managing Directors, S & S Immobilien Holding GmbH

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Dr. Lutz Becker

Associate Partner

Hamburg, Germany
Oaklins Germany

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Christoph Rummelt

Director

Hamburg, Germany
Oaklins Germany

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Felix Daetz

Senior Associate

Hamburg, Germany
Oaklins Germany

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