DLA Piper has been advising Kühne Holding AG on the takeover of the insolvent Hotel InterContinental in Hamburg. Via its wholly-owned subsidiary Kühne Immobilia GmbH, the company belonging to entrepreneur Klaus-Michael Kühne is also acquiring the hereditary building rights in addition to the property itself.

Preceding the takeover was a structured bidding procedure in which around ten prospective buyers engaged in and from which Kühne Immobilia GmbH emerged successfully. In the interest of the hotel industry the buyer considers it to be desireable to sustain the long-established hotel next to the Fontenay and to examine different developmental possibilities of the property.

The InterContinental Hotel on Hamburg’s Aussenalster lake had to apply for secondary insolvency proceedings after a Swiss insolvency process had initially been opened against the assets of the parent company Grod Hotel GmbH (Schweiz) Niederlassung Deutschland. According to the bidding process, Kühne Immobilia GmbH has now been awarded the property as the company with the most sustainable prospects for this hotel location which has a long and rich tradition in the Hanseatic city.

In addition to the managing partner Mike Danielewsky (Restructuring, Frankfurt), the team from DLA Piper included counsel Dr Fabian Hinrichs (Real Estate, Frankfurt) and senior associate Dr Falko Tappen (Tax, Frankfurt).

http://www.dlapiper.com/dla-piper-advises-kuhne-holding-ag-on-the-acqui…