BPV Grigorescu Stefanica has advised Austrian-based property group Supernova on the acquisition of six Romanian shopping centers from Cora. Act Legal Botezatu Estrade Partners advised Cora’s parent companies, the Louis Delhaize and Galimmo groups. Dentons reportedly advised the banks financing the transaction.
The acquisition was partially financed by a consortium of Erste Bank AG, Raiffeisen Bank International, Raiffeisen Bank Romania, and BCR. Three of the shopping centers are located in Bucharest and the others are in Bacau, Constanta, and Drobeta-Turnu Severin.
According to Act Legal Botezatu Estrade Partners, “the decision to further operate the hypermarkets in the same locations as tenants, combined with Supernova’s commitment to invest in developing the shopping centers, marks a natural step forward for Cora in Romania. This partnership provides Cora with a great opportunity to operate even more efficiently its hypermarket network and to develop its commercial footprint.”
BPV Grigorescu Stefanica’s team included Partner Anca Albulescu, Managing Associate Nicolae Ursu, Senior Associate Alina Tyelu, and Associates Diana Radu and Iuliana Rusu.
Act Legal Botezatu Estrade Partners’ team included Partners Laura Estrade and Mihaela Posirca, Counsels Iustina Sima and Andrei Muresan, Senior Associates Ruxandra Listea and Alexandru Dan, Associate Lorena Samoila, and Paralegal Andreea Modreanu.
Editor's Note: After this article was published, Dentons announced that it had advised Erste Group Bank, Raiffeisen Bank International, Raiffeisen Bank Romania, and Banca Comerciala Romana on the deal. The firm's team included Partners Simona Marin and Bogdan Papandopol, Senior Associate Sandra Constantin, and Associates Cristina Staicu, Alin Serea, Isabela Gheorghe, and Bianca Isache.