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| Schoenherr advises on EUR 7.9 billion real estate merger Central European law firm Schoenherr has advised listed Immofinanz on its approx. EUR 7.9 billion merger with Immoeast. The merged Immofinanz/Immoeast will be one of the top ten real estate companies worldwide and among the top three in Central and Eastern Europe. The transaction was approved in January 2010, but because of Immoeast's secondary listing on the Warsaw stock exchange the merger required approval from the Polish regulatory authorities, which has now been granted. The merger will now be registered with the Vienna commercial registry. The merger between the two listed real estate companies is part of the overall restructuring of Immofinanz and is one of the largest mergers of listed companies in Austria's history. Schoenherr has been advising on various steps of the restructuring of Immofinanz. Prior to the 2010 merger with Immoeast, Schoenherr advised on the 2009 Immofinanz convertible bonds exchange offer directed to holders of Immofinanz' outstanding EUR 1.5 billion convertible bonds; the 2009 restructuring of Immofinanz' EUR 415 million senior syndicated credit facility; the EUR 1.46 billion sale of Immofinanz's subsidiary Immoaustria holding the Group's entire Austrian real estate portfolio to Immoeast; and the 2009 sale of selected prime real estate and financial investments to satisfy liquidity needs in the short term. write your comments about the article :: © 2010 Construction News :: home page |