29
Fri, Mar
51 New Articles

DLA Piper, PRK Partners, Allen & Overy, Novalia, and Oppenheim Advise on METRO Properties’ Sale and Lease-Back of Portfolio of Cash & Carry Stores to FLE GmbH

DLA Piper, PRK Partners, Allen & Overy, Novalia, and Oppenheim Advise on METRO Properties’ Sale and Lease-Back of Portfolio of Cash & Carry Stores to FLE GmbH

Deals and Cases
Tools
Typography
  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

DLA Piper Poland, Oppenheim, and PRK Partners have advised Metro Properties on the more-than-EUR 250 million sale and lease-back of 11 Cash & Carry stores in Poland, Hungary, and the Czech Republic to FLE GmbH, an Austrian subsidiary of French LFPI Group, investing on behalf of the AIF regulated fund. Allen & Overy, Novalia, and DLA Piper Hungary advised FLE on the transaction, which was finalized in August 2019.

The properties include five Makro Cash & Carry stores in Poland (in Warsaw, Wroclaw, Krakow, and Lublin), three Metro Cash & Carry properties in Hungary (all in Budapest), and three Makro Cash & Carry markets in the Czech Republic (all in Prague). Metro Properties retains the ownership of several adjacent plots in Poland and the Czech Republic to develop mixed-use projects. 

Metro is an international wholesale company with food and non-food assortments that specializes in serving the needs of hotels, restaurants, and caterers as well as independent traders. Metro Properties is the real estate company of Metro AG, an international wholesale and food expert, that operates in 36 countries and employs more than 150,000 people worldwide. The company, which is headquartered in Germany, also has operations in Poland and Turkey.

FLE GmbH, based in Vienna, is a subsidiary of LFPI group, an international multi-asset manager. The real estate funds managed by LFPI group are owners of more than 250 real estate properties with an estimated net value of approximately EUR 3 billion.

The PRK Partners team included Partner Roman Pecenka and Associate Milan Sivy.

The DLA Piper Poland-based team included Partner Jacek Gizinski, Counsel Pawel Chodzinski, Associates Miroslaw Calka and Karolina Madrzycka, and Junior Associate Karolina Kordulska.

The Allen & Overy team included Partner Michal Matera, Senior Associates Piotr Przybylski and Anna Madra, and Associates Krystyna Fatyga and Maciej Wroniak.

Editor's note: After this article was published Novalia informed CEE Legal Matters that its team included Partners Pavel Marc, Kamil Stanek, and Marketa Kucerova Pechova.

Czech Republic Knowledge Partner

PRK Partners, one of the leading Central European law firms, has been helping clients achieve their business objectives almost 30 years. Our team of lawyers, based in our Prague, Ostrava, and Bratislava offices, has a unique knowledge of Czech and Slovak law and of the business environment. Our lawyers studied at top law schools in the United States, United Kingdom, Switzerland and elsewhere. They also have experience working for leading international and domestic law firms in a number of jurisdictions. We speak your language, too. Our legal team is fluent in more than 15 languages, including all the key languages of the region.

PRK Partners has one of the most experienced legal teams on the market. We are consistently rated as one of the leading law firms in the region. We have received many significant honours and awards for our work. We represent the interests of international clients operating in the Czech Republic in an efficient way, combining local knowledge with an understanding of their global requirements in a business-friendly approach. We are one of the largest law firms in the Czech Republic and Slovakia. Our specialised teams of lawyers and tax advisors advise major global corporations as well as local companies. We provide comprehensive legal advice drawing on our profound knowledge of local law and markets.

Our legal advice delivers tangible results – as proven by our strong track record. We are the only Czech member firm of Lex Mundi, the world's leading network of independent law firms. As one of the leading law firms in the region, we have received many national and international awards, in some cases several years in a row. Honours include the Chambers Europe Award for Excellence, The Lawyer and Czech and Slovak Law Firm of the Year. Thanks to our close cooperation with leading international law firms and strong local players, we can serve clients in multiple jurisdictions around the globe. Our strong network means that we can meet your needs, wherever you do business.

PRK Partners has been repeatedly voted among the most socially responsible firms in the category of small and mid-sized firms and was awarded the bronze certificate at the annual TOP Responsible Firm of the Year Awards.

Our work is not only “business”: we have participated on a longstanding basis in a wide variety of pro bono projects and supported our partners from the non-profit sector (Kaplicky Centre Endowment Fund, Tereza Maxová Foundation, Czech Donors Forum, etc.).

Firm's website: www.prkpartners.com

Our Latest Issue