Linklaters has advised PSI Software SE on the conclusion of a delisting agreement with its majority shareholder Warburg Pincus. Accordingly, Warburg Pincus will make a public delisting tender offer for all outstanding shares at the statutory minimum price to the other share-holders of PSI as soon as the German Federal Financial Supervisory Authority has approved this.
PSI is a leading global manufacturer of energy and industrial software for the control and optimization of complex systems and processes.
Warburg Pincus’ offer and the resulting delisting are long-term announced building blocks of the strategic partnership entered into by PSI, Warburg Pincus and E.ON in their investment agreement of October 2025. The strategic partnership is designed to promote PSI’s long-term and sustainable growth. The first steps on this path were a voluntary takeover offer by Warburg Pincus to PSI shareholders, which was completed in mid-2026 after approval by the German Federal Ministry for Economic Affairs and Energy, and a capital increase by PSI in July 2026.
The cross-practice Linklaters team is led by Klaus von der Linden (Partner, Corporate/M&A, Düsseldorf). Other team members are: Stephan Oppenhoff (Partner, Corporate/M&A, Frank-furt), Christoph Barth (Partner, Antitrust & Foreign Investmentl, Düsseldorf), Przemyslaw Lipin (Partner, Banking, Frankfurt), Ulli Janssen (Counsel, Corporate/M&A, Frankfurt), Tom Schäfer (Managing Associate, Corporate/M&A, Düsseldorf) and Richard Knaup (Associate, Corporate/M&A, Düsseldorf).
