Clifford Chance has advised its longstanding client O1 Group on the acquisition and on the acquisition financing of a 16% stake in Austrian CA Immo from UniCredit. The total value of the transaction is EUR295 million.
The 15,954,891 ordinary shares acquired by O1 Group Limited represent the entire participation currently held by UniCredit in CA Immo and correspond to approximately 16.35% of the outstanding share capital and voting rights of CA Immo. The closing of the acquisition by O1 Group Limited of UniCredit’s shares in CA Immo is subject to the fulfilment of customary conditions precedent, such as merger control clearance, and expected to occur in November 2014.
In addition to this transaction, O1 Group intends to launch a voluntary public takeover bid for up to approximately 26% of the issued ordinary shares of CA Immobilien Anlagen Aktiengesellschaft. The voluntary public partial offer is subject to the successful closing of the current acquisition.
The transaction represented a great joint effort of the Clifford Chance corporate and finance teams in Moscow, Düsseldorf, Warsaw, Prague and Bucharest and DORDA BRUGGER JORDIS in Vienna.
O1 Group is a private holding company that focuses on strategic investments and asset management in different business areas such as real estate and finance. Among its most prominent assets is a majority ownership (more than 60%) of O1 Properties. O1 Properties is the largest Class A landlord in Moscow with almost 500,000 sq meters of rentable space and a portfolio of 13 yield-generating office assets of US$4.5 Billion value plus 3 development projects.
CA Immo is a Vienna Stock Exchange listed real estate company with a EUR3.5 billion property portfolio, comprising 74 income generating assets, mainly premium office properties in central locations in core cities throughout the Germany, Austria and the CEE area. In addition, it has an exciting development portfolio in growth markets such as Berlin, Frankfurt and Munich that will further add value in the future.
Logan Wright, Managing Partner and Head of the Banking & Finance practice at Clifford Chance’s Moscow office, commented: “We are delighted to have advised O1 Group on what is a landmark transaction for a leading Russian investment group, and one which shows that even in the current challenging environment strong Russian businesses continue to pursue their strategic goals abroad as well as domestically.”
Source: www.cliffordchance.com
