Schoenherr has advised Starwood Capital Group on the acquisition of a 26% shareholding in CA Immobilien Anlagen AG from Immofinanz AG. BPV Hugel advised Immofinanz.
Under the acquisition agreement approved by the supervisory board of Immofinanz, SOF-11 Starlight EUR 10 S.a r.l., Luxembourg, an affiliate of the Starwood Capital Group, USA, will acquire over 25 million bearer shares and four registered shares corresponding to approximately 26% in CA Immo for a total price of EUR 757.9 million. The registered shares carry delegation rights to the supervisory board of CA Immobilien Anlagen AG ("CA Immo").
The transaction, which is subject to regulatory approvals and other approvals associated with a transaction of this nature, is expected to close in the third quarter of 2018.
The acquisition was preceded by two limited public offers by Starwood launched in the beginning of 2018 relating to up to 26% in CA Immo and up to 5% in Immofinanz. Each of the independent offers resulted in a limited take-up.
CA Immo is a real estate group headquartered in Vienna with branch offices in seven countries of Central Europe. Its core business involves leasing managing and developing high-quality office buildings.
Starwood Capital Group is a private alternative investment firm with a core focus on global real estate, energy infrastructure, and oil and gas.
The Schoenherr team was led by Partner Christian Herbst, supported by Partner Volker Weiss and Counsels Sascha Schulz and Maximilian Lang.
The BPV Hugel team was led by Partner Christoph Nauer and included Partners Thomas Lettau, Gerald Schachner, and Astrid Ablasser-Neuhuber and Attorneys Holger Steinborn, Daniel Reiter, Roland Juill, Julia Nicolussi, and Franz Stenitzer.
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