Schoenherr has advised a group of investors led by Erwin Krause and Franz Kollitsch on the formation of a 50/50 joint venture with SIGNA, and on the JV's acquisition of BAI Bautrager Austria Immobilien GmbH from Immobilien Holding (a UniCredit Bank Austria company). Arnold Rechtsanwalte advised SIGNA on the deal, while Immobilien was advised by Fellner Wratzfeld & Partners. The signing of the purchase agreement took place on January 25, 2017, and the transaction is subject to competition authority approval and the satisfaction of customary closing conditions. The financial terms of the transaction were not disclosed.
BAI is an indirect subsidiary of UniCredit Bank Austria. BAI has an investment volume of approximately EUR 1.7 billion, a current portfolio of 18 projects, and a development portfolio of more than 440,000 square meters.
The Schoenherr team advising on the transaction was led by Partner Michael Lagler and included Partners Florian Kusznier, Robert Bachner, and Franz Urlesberger, Counsel Stefanie Stegbauer, Attorney Julia Wasserburger, and Associates Serap Aydin, Natalia Wolfschwenger, Teresa Waidmann, and Lukas Solek.
The Arnold Rechtsanwalte team advising SIGNA consisted of Partner Nikolaus Arnold and Attorneys Bernhard Vette von der Lilie, Andreas Eder, and Roman Gruber.
The Fellner Wratzfeld & Partner team was led by Partner Markus Fellner and included Partners Kurt Wratzfeld, Paul Luiki, and Lukas Flener, as well as Attorneys Irena Gogl-Hassanin, Christoph Postl, and Georg Huber.