Covivio X-Tend AG entered into a business combination agreement to acquire Godewind Immobilien AG (XTRA:GWD) from Stavros Efremidis, Karl Ehlerding and others for approximately €690 million on February 13, 2020. Covivio will launch a voluntary public takeover offer for 100% of the share capital of Godewind. Under the terms of the offer, each shareholder of Godewind will receive €6.4 per share in cash. In order to secure the transaction, Covivio entered into share purchase agreements with various shareholders of Godewind (including members of the Godewind's management and supervisory board), under which these shareholders committed themselves to transfer Godewind shares against payment of a purchase price of €6.4 per Godewind share. The offer is fully financed by existing resources of Covivio X-Tend AG. As of May 7, 2020, the shareholders of Godewind Immobilien approved the name change to Covivio Office AG from Godewind Immobilien AG. Bertrand Malmendier and Rainer Langenhorst resigned from their position in the supervisory boards of Godewind Immobilien and Uwe Becker and Rainer Langenhorst appointed as members of supervisory board. Uwe Becker elected as chairman and Rainer Langenhorst elected as Deputy Chairman. Stavros Efremidis and Ralf Struckmeyer have resigned from executive board. The supervisory board has appointed Marcus Bartenstein and Daniel Frey as new members of the executive board. The share purchase agreements - together with the treasury shares and exercised options - cover up to approximately 35% of Godewind's share capital on a fully diluted basis and are subject to certain closing conditions (in particular merger clearance by the German Federal Cartel Office (Bundeskartellamt)), but cannot be terminated unilaterally by either party. Regulatory clearance is expected to be obtained prior to the commencement of the tender offer, which will commence with the acceptance period by end of March 2020. The management board and the supervisory board of Godewind will support the public takeover offer and, subject to detailed review of the offer document, recommend acceptance to its shareholders. As of March 25, 2020, the offer has become unconditional. The end of the public offer and the delisting by the management are currently expected to occur by end-May 2020. As of March 25, 2020, the tender offer period has started and will run until April 22, 2020. Thomas Krecek, Christian Vogel, Philipp Klöckner, Dominik Heß, Moritz Petersen, Annette Röhder, Lara Stelmach, Aldara López Solà, Stefan Simon, Christopher Fischer, Mario Maier, Thorsten Sauerhering, Dominik Engl, Marc Besen, and Dimitri Slobodenjuk of Clifford Chance acted as legal advisor and J.P. Morgan acted as financial advisor to Godewind Immobilien AG. Carsten Berrar, Olivier de Vilmorin, York Schnorbus and Clemens Rechberger of Sullivan & Cromwell LLP acted as legal advisor for Covivio. Morgan Stanley (NYSE:MS) acted as a financial advisor to Covivio X-Tend AG. Robert Weber and Julia Sieber of Dentons GmbH Wirtschaftsprüfungsgesellschaft Steuerberatungsgesellschaft acted as legal advisors in the transaction. Covivio X-Tend AG completed the acquisition of 86% stake in Godewind Immobilien AG (XTRA:GWD) from Stavros Efremidis, Karl Ehlerding and others for approximately €590 million on May 11, 2020. Covivio now owns 86% of Godewind Immobilien. Covivio granted a put option to certain external shareholders which hold a total of about 10% of the Godewind Immobilien's shares. Godewind Immobilien AG, which was delisted from the Frankurt Stock Exchange on May 14, 2020, has been rebranded Covivio Office AG.