Real Estate SPV Acquisition in Warsaw

act legal Poland advised Rank Progress S.A., a company listed on the Warsaw Stock Exchange, on the acquisition of a 99.99% stake in a special purpose vehicle from Castorama Polska sp. z o.o.
The target company holds the perpetual usufruct right to a property of over 1.1 hectares on Ostrobramska Street in Warsaw. Under the local zoning plan, the land is designated for multi-family residential development, allowing for a residential development project in the Praga-Południe district.
Legal advice was provided by our team comprising:
• Michał Wielhorski, Managing Partner, attorney-at-law, and Mateusz Prokopiuk, Partner, attorney-at-law: structuring and negotiating the share purchase agreement and coordinating the entire transaction process;
• Anna Sawaryn, Partner, attorney-at-law: advising on proceedings before the President of the Polish Office of Competition and Consumer Protection (UOKiK) to obtain merger clearance;
• Michał Sołtyszewski, Partner, attorney-at-law: conducting legal due diligence on the property and analysing planning matters relating to the land.