Schoenherr has advised IMMOFINANZ AG ("IMMOFINANZ") on the expansion of its STOP SHOP retail park portfolio in Slovakia through the acquisition of six shopping centres from the Austrian WM Group. The financial terms of this transaction will not be disclosed. The framework purchase agreement was signed on 28 October 2016, with closing of the transaction expected in the first quarter of 2017.
 
Schoenherr supported IMMOFINANZ on all Slovak legal aspects of the transaction, including the due diligence, the structuring of the transaction as well as the drafting and negotiation of the SPA.
 
IMMOFINANZ is a commercial real estate company whose activities are focused on the retail and office segments of several core markets in Europe: Austria, Czech Republic, Germany, Hungary, Poland, Romania and Slovakia. The core business includes the management and development of properties. The company has a real estate portfolio of approximately EUR 5.4bln that covers more than 360 properties.
 
STOP SHOP is IMMOFINANZ's brand for retail parks in Austria and the CEE. The portfolio comprises 66 retail parks in seven countries.
 
The WM Group is active as a real estate developer in Austria, Croatia, Hungary, Slovakia and Slovenia.
 
The Schoenherr team advising IMMOFINANZ was jointly led by Michael Lagler (partner, Vienna; real estate) and Sona Hekelova (partner, Bratislava; corporate/M&A), who were assisted by Peter Devinsky (attorney at law, Bratislava; litigation & employment), Michal Lucivjansky (attorney at law, Bratislava; regulatory and corporate/m&a) and Tomas Silhanek (associate, Bratislava; real estate).
 
The WM Group was represented by CHSH in Austria and in Slovakia by bpv Braun Partners.