Global law firm White & Case LLP has advised Adler Group S.A. on the sale of a close to €1.3 billion real estate portfolio to LEG IMMOBILIEN SE (LEG).
The real estate portfolio comprises 15,362 residential and 185 commercial units in small and medium-sized towns in Northern Germany. The transaction is being conducted by way of a share deal in which LEG is acquiring 100 percent of the target companies’ shares. The transaction is expected to be closed by the end of the year. The net proceeds of the transaction will mainly be used to repay existing liabilities of Adler Group.
The White & Case team which advised on the transaction was led by partners Andreas Lischka and Gernot Wagner (both Frankfurt) and included partners Roger Kiem, Rostyslav Telyatnykov, Bodo Bender and Tilman Kuhn (Düsseldorf), local partners Sebastian Pitz, Patricia Galts, Tim Bracksiek, Sebastian Stütze (all Frankfurt) and Mathis Rust (Düsseldorf), and associates Patrick Schoelles, Agmal Bahrami, Nane Jütting, Markus Stelzig and Markus Fischer (all Frankfurt).
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