Schoenherr and SCWP Schindhelm have advised a joint venture company formed by an investor group and Austrian property developer UBM Development AG on the acquisition of UniCredit Bank Austria subsidiary Ekazent Group. UniCredit Bank Austria was advised by Freshfields Bruckhaus Deringer on the deal, which closed on January 31, 2017.
Schoenherr supported the investor group, led by real estate investors Erwin Krause and Franz Kollitsch (supported by Invester United Benefits GmbH), on the formation of the 50/50 joint venture and the acquisition of the property portfolio, and provided competition law advice. SCWP Schindhelm advised UBM on the 50/50 joint venture as well as on the acquisition of the property portfolio. SCWP Schindhelm also counseled the joint venture company on the financing of the acquisition.
According to Schoenherr, "the Austrian real estate developers and investors Erwin Krause and Franz Kollitsch have already carried out several real estate projects, such as the purchase of the Hilton Hotel at Stadtpark in Vienna."
The Schoenherr team consisted of Partners Michael Lagler and Franz Urlesberger and Counsel Arabella Eichinger.
The SCWP Schindelm team was led by Corporate M&A Partner Immanuel Gerstner, who was supported by attorney Lukas Leitner.
The Freshfields team was led by Partner Farid Sigari-Majd, Counsel Felix Neuwirther, and Associates Noel Zamani and Johannes Samaan.