Company Founder in Sale of Stake in Germany’s Leading Real Estate Manager

Cleary Gottlieb is advising company founder Michael Zimmer in the sale of his stake in CORPUS SIREO GmbH & Co. to savings bank Sparkasse KölnBonn. The transaction was announced on November 7, 2011 and will close by the end of this year. The purchase price will not be disclosed.

By acquiring the 25-percent stake held by THITA GmbH & Co. from Michael Zimmer the Sparkasse KölnBonn will raise its interest in CORPUS SIREO to 50 percent. The savings banks Stadtsparkasse Düsseldorf and Frankfurter Sparkasse hold a 25-percent stake each.

CORPUS SIREO is Germany’s leading real estate manager with a total of 14.5 million square meters in commercial and residential real estate with an aggregate value of more than €15.4 billion under management.