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Corporate: Gleiss leads Blackstone through telco investment.

Europe Intelligence Wire

| May 01, 2006 | COPYRIGHT 2006 Financial Times Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

(From The Lawyer)

Gleiss Lutz advised longstanding client Blackstone on its first investment in a government-controlled company.

The US private equity group was selected by the German government as the preferred bidder for a 4.5 per cent, E2.68bn (GBP1.5bn) stake in Deutsche Telekom.

Blackstone established a new company, Green Park 1 Acquisition, for the acquisition, which gives the group a seat on the Deutsche Telekom board.

The private equity group bought its holding from KfW Bank, the German development bank, and it makes Blackstone the third-largest shareholder in Deutsche Telekom after KfW Bank and the German government. It is not known how Blackstone will finance the acquisition.

Partners Christian Cascante and Jan Bauer led the Gleiss ...

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