Linklaters has advised Polish developer Develia on its acquisition of 19 Polish subsidiaries from French developer Nexity for EUR 100 million. Dentons advised Nexity.
According to Linklaters, “with the acquisition, Develia will increase the number of units under construction by approximately 1,400, and its land bank by approximately 2,200 units, in Warsaw, Krakow, and Poznan. The acquisition will strengthen Develia's development potential in the Polish residential market.” In addition to the 19 subsidiaries, “Develia will additionally take control over ten limited partnerships (whose limited and general partners are acquired companies), conducting development activity in Poland.”
Linklaters’ team included Counsel Monika Krzyszkowska-Dabrowska, Managing Associates Tomasz Trystula, Ewa Sinkiewicz, Wojciech Podlasin, Szymon Sieniewicz, and Lukasz Burakowski, Senior Associates Samanta Wenda-Uszynska and Barbara Wanat, Associates Marta Strykowska, Maksymilian Hau, and Joanna Roman, and Junior Associates Sandra Slowik and Jakub Korobczuk.
The Dentos team included Partners Michal Wasiak and Magdalena Szwarc-Brozyna, Managing Counsel Tomasz Krasowski, Senior Associates Natalia Lawniczak-Koziol and Damian Bugaj, Associate Magdalena Witka, and Trainee Aleksandra Redzisz.
Editor's Note: On July 26, 2023, Linklaters announced that the deal had closed successfully.
On September 21, White & Case informed CEE Legal Matters that it had advised Develia on the up to PLN 200 million financing provided by PKO Bank Polski and mBank to finance or refinance part of the cost of purchasing 100% of the shares in Nexity's subsidiaries. The firm’s team included Partner Grzegorz Abram, Local Partner Pawel Zagorski, and Associates Roksana Kaluzna-Balazy and Mateusz Dyduch.