Allen & Overy and RTPR (the associate office of Allen & Overy in Bucharest) provided legal advice to the Austrian group CA Immobilien Anlagen on the sale of its logistics portfolio totalling 467,000 sqm in Romania and Poland to the fund PointPark Properties, which was advised by Dentons. As far as value is concerned, the portfolio acquired by PointPark Properties in Romania accounts for the most significant part of the deal which, along the logistical park Europolis Logistic Park located outside Bucharest, includes two properties located in Poland and almost 165 hectares of land for development, located mainly in Romania and Poland.
As concerns the portfolio located in Romania, the deal took the shape of a share-deal, the transfer agreements have been executed since 2014 and its completion occurred late January 2015, after meeting all conditions precedent.
The completion of this deal materializes the sustained effort of the cross-border teams of Allen & Overy. Locally, the RTPR legal team was led by Adrian Cazan (Senior Associate) in matters of real estate law and by Mihai Ristici (Partner) in matters of company law. The legal team also included Tudor Năftică and Alexandra Ivancia, along with Polish and English law attorneys.
“We are glad we have been able to assist CA Immo, whom we would like to thank for having put their trust in us to assist them in what so far has been one of the largest transactions in Romania on the industrial-logistical segment. The deal was closed in late January, and the parties have completed the process of meeting the conditions agreed for the purpose of implementing the transfer. I believe that completing this acquisition will send a positive message and will encourage investments in the real estate sector. By completing such a significant deal, investment funds will take a closer look at the Romanian market”, Adrian Cazan declared.
RTPR was founded in 2004 and has been working in association with the international law firm Allen & Overy LLP, headquartered in London, since 2008. RTPR Allen & Overy has 43 lawyers including 5 partners: Costin Taracila, Victor Padurari, Alexandru Retevoescu, Mihai Ristici, Valentin Berea and Professor Lucian Mihai, of counsel.
RTPR Allen & Overy’s main areas of activity are: financing, mergers and acquisitions, capital markets, insolvency and restructuring, competition, labour law, intellectual property law, litigation and arbitration, and providing advice across a range of business sectors including energy, telecommunications, finance, real estate and the pharmaceutical industry.
Selected transactions in which RTPR Allen & Overy have been recently involved are set out below:
• RBS Bank Romania on the sale of its corporate portfolio to UniCredit Tiriac Bank.
• Resource Partners on the acquisition of World Class Romania.
• 3TS Capital Partners on the acquisition of a 23% shareholding stake in Simartis Telecom
• Romprest and its shareholder Detaco in relation to the exit of 3i Group from Romprest.
• Pamplona Capital Partners III on the acquisition of the majority stake in Alvogen Group, a group focused on the development, manufacturing and marketing of generic pharmaceuticals.
• Enterprise Investors (PEF V Information Technology) on the exit from Siveco Romania in an MBO leveraged transaction.
• DHL in relation to the sale of Cargus International (the Romanian domestic courier business) to Abris Capital Partners.
• First Retail International (FRI) on the acquisition of a 50% interest in the Romanian retail park portfolio 'InterCora'.
Note to the editors:
1. Allen & Overy is an international legal practice with approximately 5,000 staff, including some 526 partners, working in 46 major cities in 32 countries.
2. RTPR was incorporated in 2004 and has been working in association with Allen & Overy since 2008. RTPR Allen & Overy has a team of 43 lawyers, including 5 partners: Costin Tărăcilă, Victor Pădurari, Alexandru Retevoescu, Mihai Ristici, Valentin Berea and also Prof Dr Lucian Mihai, of counsel.
3. In this press release, “Allen & Overy” means Allen & Overy LLP and/or its affiliated undertakings.
4. In this press release, “RTPR Allen & Overy” means Radu Tărăcilă Pădurari Retevoescu SCA in association with Allen & Overy LLP.
5. Allen & Overy has been operating in the CEE region since 1991, when its first office opened in Warsaw. Since then, it has expanded its operations to include Prague, Budapest, Bucharest, Bratislava and Moscow, all of which are renowned in the market for top quality legal advice combined with local commercial understanding, as well as for their integrity and their pro-active approach to matters. Additionally, Allen & Overy signed an exclusive association with the leading full-service Romanian law firm Radu Taracila Padurari Retevoescu SCA (RTPR), effective from July 2008, expanding the number of CEE offices in which we are able to provide local law advice to six.