Allen & Overy LLP has advised BSG Real Estate Limited (BSGRE) on the formation of a joint venture with SIGNA Prime Selection AG (SIGNA) in relation to a high street retail store portfolio in Germany. The joint venture received merger-control approval in Germany on 9 January 2013 and forms part of the long term strategy for both companies to have a presence in this growing market.
BSGRE joins SIGNA as a partner and co-investor in the company which acquired a portfolio of assets from Highstreet (a common joint venture between Goldman Sachs, REEFF from Deutsche Bank and others) at the end of 2012 that includes the landmark Berlin store, KaDeWe. Similar assets previously acquired by SIGNA including the legendary prime-department store Oberpolliger in Munich also form part of the joint venture between BSGRE and SIGNA.
Closing of the various acquisitions is envisaged to occur between April and October 2013.
The Allen & Overy team was led by Hamburg based corporate/M&A partner Dr Helge Schäfer. Other partners involved were Dr Astrid Krüger (Munich), Dr Hans Schoneweg (Hamburg, both corporate/M&A) supported by senior associates Dr Christian Hilmes (real estate/corporate/M&A, Hamburg), Dr Rüdiger Klüber (corporate/M&A, Hamburg) and Dr Simon Hennes (banking, Munich) and associates David Hössl, Dr Julien Zazoff (both corporate/M&A, Hamburg) and Dr Ilja Baudisch (banking, Munich). Public law advice was provided by associate Dr Thorsten Thaysen (Frankfurt); anti-trust advice was contributed by Vera Thiemann (Hamburg).
Luxembourg law advice was coordinated and provided by Luxembourg partner Marc Feider (corporate/M&A). Ed Barnett (corporate partner in A&O's London office) advised on matters under English law.