Kolja Stehl

Representative matters include advising:

Financial services regulation

• Arthur J. Gallagher & Co., a global insurance brokerage, risk management and consulting services firm, in its acquisition of the treaty reinsurance brokerage operations of Willis Towers Watson for US$3.25 billion.
• Arthur J. Gallagher & Co. on its US$3.57 billion acquisition of Willis Towers Watson Assets.
• Athene Holding in connection with its proposed merger with Apollo Global Management.
• Summit Partners on its €50 million investment in Solactive AG, a technology-enabled provider of indices and index solutions to the global financial services industry.
• Munich Re on £1 billion longevity swap with Willis Pension Scheme.
• Munich Re on €3.8 billion longevity risk transfer with NN Life Netherlands.
• Allianz on the sale of its majority stake in Oldenburgische Landesbank to Bremer Kreditbank.
• A U.S. bank on its German market entry and the establishment of a bank branch in Frankfurt am Main.
• A large private equity firm in relation to the restrictions on short selling and uncovered sovereign CDS in several European jurisdictions.
• An Italian marketplace on the EU and German regime for payment services and E-money.
• Various EU and U.S. clearing houses in relation to the provision of clearing services in Germany.
• Various non-EU asset managers on the implications of regulatory reforms for their transactions with EU banks and broker dealers and their access to EU investors.
• Various banks, insurers and providers of financial market infrastructure in relation to their Brexit contingency planning.
• Various banks and hedge funds in relation to the structuring of regulatory capital and the phasing out of legacy instruments.

Bank restructuring and resolution

• A bondholder group in connection with the restructuring of HSH Nordbank.
• A hedge fund with regard to its investment in Nord/LB.  
• Various asset managers with regard to their investments in Banca Monte dei Paschi di Siena, Veneto Banca and Banca Popolare di Vicenza. 
• Piraeus Bank on its €4.9 billion recapitalization and Eurobank Ergasias on its €2 billion recapitalization. 
• A group of subordinated bondholders in relation to the resolution of Banco Espírito Santo. 
• WestLB, BayernLB and Hypo Real Estate on the establishment of risk shields for their structured finance portfolios and other crisis management measures taken in 2008 and 2009.

*Some of the above matters were handled by Kolja prior to joining Sidley.