GÖRG has provided legal advice to HUK-COBURG on the acquisition of a majority stake in the car service company pitstop. The transaction is scheduled to be completed on 2 January 2025.
With this transaction, HUK-COBURG is increasing its shareholding in pitstop, established in 2022, from 25.1% to 84.9%. Bridgestone Europe NV/SA will remain a minority shareholder with a 15.1% stake. Stefan Kulas, who previously held the majority stake in pitstop, has relinquished it but will remain part of the management team. By acquiring this majority stake, HUK-COBURG is taking the next step in its strategic transformation from an insurance company into a mobility service provider.
With over 13 million customers and premium income exceeding €9 billion in 2023, HUK-COBURG is one of the ten largest insurance groups in Germany. With approximately 13.9 million insured vehicles, it is Germany's largest car insurer. In addition, the company ranks among the top providers in household and personal liability insurance. Based in Coburg, the HUK-COBURG group employed more than 10,000 people at the end of 2023.
GÖRG had already advised HUK-COBURG in 2022, under the joint leadership of Dr Roland Hoffmann-Theinert and Dr Wibke Schumacher, when it initially acquired a minority stake in pitstop. Now, the GÖRG team, led by Dr Wibke Schumacher, is also advising on the acquisition of the majority stake in pitstop.
Advisors HUK-COBURG
GÖRG Partnerschaft von Rechtsanwälten mbB
Dr Wibke Schumacher (Lead, Partner, Corporate/M&A/Tax, Cologne)
Dr Michael Heise, LL.M. (Partner, IT & Outsourcing, Berlin)
Dr Christian Bürger (Partner, Competition/Antitrust, Cologne)
Dr Frank Wilke (Partner, Labour and Employment Law, Cologne)
Dr Katharina Landes (Partner, IP, Cologne)
Thorsten Dreimann, LL.M. (Counsel, IT & Commercial, Berlin)
Michael Winkelhog (Counsel, Corporate/M&A, Cologne)
Metehan Uzunçakmak, LL.M. (Associate, Competition/Antitrust, Cologne)
Tjark Wüster (Associate, Corporate/M&A, Cologne)
