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POELLATH advises Synlab’s board of directors on IPO

Synlab, Europe’s largest medical laboratory group, is going public in Frankfurt. The initial listing will take place in June at the latest. By issuing new shares, Synlab intends to raise around EUR 400 million. Stock market experts expect the IPO to have a total volume of EUR 1 to 1.5 billion.

In addition, the former owners of the investment company Cinven want to list a still undisclosed portion of their shares on the stock exchange. In addition to Cinven, which acquired a majority stake in Synlab in 2015, the Canadian pension fund OTPP, Novo Holdings and members of the management team are also involved.

Synlab states that it employs around 20,000 people, operates 450 laboratories in 36 countries and increased its revenue last year from EUR 1.9 billion to EUR 2.6 billion. Of this, EUR 0.6 billion came from Corona tests alone. For the current year, Synlab CEO Mathieu Floreani announced a further jump in sales to EUR 3.0 billion. In the medium term, Synlab is targeting annual growth of ten percent.

In recent years, Synlab has acquired an average of 20 laboratories each year, spending EUR 200 million annually. This shareholder structure also makes the preparations for the IPO particularly complex, including the requirements and involvement of Synlab’s current managing directors and future board members.

POELLATH advised the board members on all legal matters regarding both stock corporation and capital markets law and, in particular, the employment contracts with the following Munich team:

  • Dr. Eva Nase (partner, lead, corporate and capital markets law)
  • Stefanie Jahn (associate, corporate and capital markets law)   

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