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About Dr. Max Alles

Max Alles advises industrial companies and private equity institutions on M&A transactions, general corporate matters, joint ventures as well as restructuring measures.

He also advises clients in international commercial arbitration proceedings.

Max speaks German, English, Russian and French.

Recent work

Private M&A:

  • Airbus on the carve-out and divestiture of its defence electronics business to KKR (€1.3bn)
  • CVC and Messer on the carve-out and acquisition of the North and South American gases business of the Linde Group ($3.6bn)
  • LANXESS on the carve-out and joint venture with Saudi Aramco regarding its synthetic rubber business (€2.75bn)
  • HSH Nordbank on the divestiture of a ship loan portfolio to hsh portfoliomanagement AöR (€5bn)
  • EQT Partners on the sale of Bilfinger Hochbau, a construction business, to Implenia
  • HSH Nordbank on its sale of a loan portfolio to Merrill Lynch and the Australian investment bank Macquarie (€1.64 bn)
  • Solvay on the sale of its cellulose acetate tow business to Blackstone (€1.2bn)
  • Messer on the carve-out and divestiture of its Castolin Eutectic business to Paragon
  • MAN SE on the sale of its Bus Modification Center in Plauen to BINZ
  • MAN Truck & Bus SE on the sale of MAN Truck and Bus RUS LLC to MAN Truck Chelny LLC
  • Fidelidade – Companhia de Seguros, S.A., a subsidiary of Fosun, on the acquisition of a 70% majority stake in the prosperity company AG (an insurtech company)
  • EVN AG on the sale of its (indirect) 49% stake in the joint venture company STEAG-EVN Walsum 10 Kraftwerksgesellschaft mbH regarding the power plant project Walsum 10 to its joint venture partner STEAG and on its exit from the power plant project Walsum 10
  • Altor Fund V and SMS Group on the acquisition of a 50% stake in KAEFER Isoliertechnik SE & Co. KG
  • Viridium Group in the acquisition of a portfolio of traditional life insurance policies with approximately 720,000 insurance contracts and assets under management of approximately EUR 21 billion from Zurich Group Germany (EUR 500 million)
  • CENTROTEC SE on the sale of its climate systems business operated under CENTROTEC Climate Systems GmbH to Ariston Holding N.V. for a consideration of EUR 703 million in cash and a subscription by CENTROTEC SE to approximately 41.4m Ariston shares (€1.1bn)
  • TRATON SE on the sale by its subsidiary (i) Scania AB of its financial services operations to VOLKSWAGEN AG, Volkswagen Finance Luxemburg S.A. and Škoda Auto a.s., and of its commercial operations to Kompaniya Alfa OOO; (ii) MAN Truck & Bus SE of MAN Truck and Bus RUS LLC to MAN Truck Chelny LLC
  • TRATON SE on the acquisition from its indirect subsidiary Scania Real Estate Services AB of a 10.1% stake in Scania Real Estate Deutschland GmbH

Public M&A:

  • HOCHTIEF AG on its joint investment together with ACT and Atlantia in Abertis (€32bn). Read more about the deal in our case study.
  • ADLER Real Estate AG on its public takeover of A.D.O. Group Ltd. (€709m)
  • TRATON SE on its public takeover offer for Navistar International Corporation (€2.9bn)
  • Vonovia SE on the contempated business combination with Deutsche Wohnen SE and the respective public takeover offer (EUR 18bn).

Capital Markets:

  • TRATON SE on its initial public offering and dual listing on the regulated market (Prime Standard) of the Frankfurt Stock Exchange and the regulated market of Nasdaq Stockholm (€1.6bn)
  • TUI AG on the comprehensive refinancing package with the Economic Stabilization Fund (WSF), KfW, Unifirm Ltd., and a consortium of banks, including a rights issue, a convertible silent participation by the WSF, a state guarantee and a credit line with the participation of KfW (€1.8bn)
  • Douglas on the comprehensive refinancing of the company's capital structure comprising a €600m term loan (Term Loan B), a €1,305m senior capital market-listed bond, a further €475m capital market-listed bon, and a €170 million revolving credit facility. (€2.55bn) 

Corporate Advisory Matters:

  • Executive boards, supervisory boards and majority shareholders of large listed and non-listed companies on various corporate and reorganization matters, incl. minority participations, squeeze-out procedures, implementation of corporate governance systems, joint ventures, compliance with the business judgement rule, capital markets regulations compliance
  • HOCHTIEF AG on the organisation and execution of its annual shareholders’ meeting
  • TRATON SE on the squeeze-out proceedings (via merger) in relation to its subsidiary MAN SE
  • Douglas on a comprehensive corporate restructuring including various measures under the German Transformation Act (UmwG)
  • Majority shareholders of a major blue chip company on the planning of their company succession and various capital markets laws related aspects

International Arbitration / Dispute Resolution:

  • Volkswagen AG in relation to customer claims based on the recall of VW diesel vehicles for nitrogen oxide emission.
  • Evonik Industries AG on various disputes with the general contractor in connection with the construction of the coal-fired power plant Walsum 10
  • Major European nuclear fuel and uranium enrichment company, on its ICC arbitration against another major European nuclear power plant company



  • Legal education at the Universitiy of Regensburg, Germany and Columbia University 
  • Legal traineeship (Referendariat) at the Higher Regional Court in Nuremberg, with a stage in London
  • Doctor of laws – Ph.D (Dr. iur.)
  • Master of Laws – LL.M. (Columbia University)
  • Executive MBA – EMBA (Pembroke College – University of Cambridge)

Professional qualifications

  • Attorney and Counselor at Law, New York, US
  • Rechtsanwalt, Germany
  • Solicitor of the Senior Courts of England and Wales
  • Commercial Mediator (MuCDR)

Recognitions / Awards

  • Cambridge Executive MBA Scholarship (University of Cambridge)
  • Harlan Fiske Stone Scholar (Columbia University)
  • Schmitz-Nüchterlein-Foundation Price
  • German Academic Exchange Service (DAAD) Scholarship
  • Foresight Foundation (Stiftung Vorsorge) Grant
  • German Notary Association (NotRV) Grant
  • University of Regensburg Dean's Book Award
  • Oskar-Karl Forster Fellowship