Kategorie: News

The deal of the year in Romanian real-estate retail comes from Louis Delhaize and Galimmo Groups, owners of Cora hypermarkets and galleries, who performed the sale & lease back of 6 cora commercial centers located in Romania to the Austrian company Supernova.

The decision to further operate the hypermarkets in the same locations as tenants, combined with Supernova’s commitment to invest in developing the shopping centres, marks a natural step forward for cora in Romania. This partnership provides cora with a great opportunity to operate even more efficiently its hypermarket network and to develop its commercial footprint.

act Botezatu Estrade Partners team was led by M&A Partner Laura Estrade and Real Estate Partner Mihaela Poșircă and included Counsels Iustina Sima and Andrei Mureșan, Senior Associates Ruxandra Liștea and Alexandru Dan, Associate Lorena Samoilă and Paralegal Andreea Modreanu.

The team assisted the sellers, Louis Delhaize and Galimmo Groups, in all phases of the transaction, including setting up the Data Room, structuring the transaction, drafting and negotiating the M&A contractual documentation and the hypermarkets long term lease agreements. The team also coordinated the Dutch law aspects, assisted by their colleagues at act Fort, the Dutch office of act legal.

Supernova Group was assisted by bpv GRIGORESCU ȘTEFĂNICĂ.

The acquisition was financed partially by a consortium of 4 banks – Erste Bank AG, Raiffeisen Bank International, Raiffeisen Bank Romania and BCR, advised by Dentons.

“I’d like to thank Mihaela, Laura and the entire team at act Botezatu Estrade Partners for their assistance in this transaction! Retaining their services for this project was the best decision. We were accompanied by one of the most competent, professional, resourceful and responsive teams I have worked with. They pushed the transaction forward and have worked tirelessly and gracefully for closing the deal; and for that we are very grateful!” stated Josselin Granier, Head of Real Estate, Louis Delhaize Group.

“This project holds a special place for us – it was both complex and rewarding.  A new chapter has opened up for cora and we are thrilled have been able to assist our client in joining forces with a top-notch partner like Supernova. We are sure this collaboration will prove to be an important leverage for further local development of the already excellent services cora provides to its customers!” – said Mihaela Poșircă, Partner and Head of the Real Estate practice.

“All our appreciation to Louis Delhaize and Galimmo Groups for their trust and the wonderful collaboration between our teams in the largest M&A Real Estate deal in the retail sector in Romania this year! We are very happy for the opportunity that this deal brings for our client’s development in Romania” stated Laura Estrade, Partner and Head of the M&A practice.

About act Botezatu Estrade Partners

act Botezatu Estrade Partners is the Romanian office of act legal, a strong alliance with 300 attorneys in 9 offices located in the most important markets in continental Europe.

act legal acts as a one-stop shop, offering cross-border regional full-service legal support to companies and investors that intend to do business in or already have a footprint in continental Europe.

For more updates on the firm’s activity, you can follow its LinkedIn page.

The team advised FM Solutions SPV sp. z o.o. on the acquisition of shares in FM Solutions sp. z o.o. from Giovanni FIZ.

act BSWW legal & tax advised the buyer throughout the process related to the acquisition of shares (management buyout). The advisory services covered the due diligence audit of the target company, transaction financing (loan documentation negotiation, establishment of collaterals, and loan disbursement) and transaction-related assistance.

FM Solutions is a leading facility manager in the south of Poland (Kraków, Katowice, Wrocław), offering comprehensive technical, infrastructural and administrative services for properties across the country.

The project was supervised by Michał Wielhorski (Managing Partner). Mateusz Prokopiuk (Partner) and Paweł Bochnia (Senior Associate) advised on the transaction and financing. Katarzyna Marzec (Partner) was responsible for due diligence supervision.

“We are pleased to have been given the chance to handle this project and offer comprehensive advice at every stage of the transaction,” said Michał Wielhorski.

The real estate team at act BSWW legal & tax is one of the biggest among Polish law firms. Our practitioners advise on all types of real estate projects, with a strong focus on large development, retail and office projects. They act for a wide range of international, domestic and regional clients, including developers, property owners, asset managers, investors, lessors and lessees.

Our team advised Uno Capital Fund and Marian Owerko (the President of Bakalland S.A. in 1996-2014, and currently the Chairman of the Supervisory Board) on the transaction involving the sale of shares by the remaining shareholders of Bakalland S.A. Uno Capital Fund will remain a shareholder of Bakalland S.A. after the transaction is completed.

The preliminary agreement for the sale of approximately 90% of shares was signed by the remaining shareholders on 23 November 2021. The transaction is scheduled for closing at the beginning of 2022. After its completion, the shareholders of Bakalland S.A. will be the Uno Capital fund and O&R Holding.

The client was advised by Marek Wojnar (Managing Partner) and Marta Kosiedowska (Partner).

Bakalland is a company operating on the Polish food market, aa leading player in the nuts and snacks sector. The Bakalland Group comprises two main brands, Bakalland and Delecta, whose products are available both in Europe and on other continents.

Uno Capital is a fund established in 2010, investing mainly in companies from the FMCG sector, new technologies and medical services.

act BSWW legal & tax advises leading Polish and foreign corporations and investment companies on commercial law and capital transactions. As a co-founder of act legal, a network of leading independent legal advisory firms, the firm participates in cross-border projects led by international groups of experts advising on commercial and corporate matters.