White & Case Advises SEB on the Financing of Metro AG's Real Hypermarkets

Frankfurt, January 16, 2008 ... White & Case LLP advised SEB AG as arranger in the financing of the acquisition of 12 hypermarkets by AIM-listed Israeli investor Delek Global Real Estate Limited. The portfolio of hypermarkets was sold by international retailer Metro Group and is leased to Real, Metro Group's hypermarket brand. The total purchase price for the portfolio amounts to €243 million and the transaction was structured as a sale and leaseback agreement.

The 12 hypermarkets are located in Germany, mainly in the Rhine-Main region. Ten of the hypermarkets were formerly owned by Wal-Mart and had been converted into the Real format.

The White & Case team was led by Frankfurt-based partner Dr. Thomas Flatten, with support from associate Anne Schrader.

"The transaction was successfully concluded despite the tough credit environment and difficult global commercial property markets," commented Dr. Thomas Flatten.

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White & Case LLP
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