Signa Retail wanted to sell their CEE holdings in Kika, the home furnishing company, and asked for Noerr´s help. Together with Austrian law firm Arnold´s Vienna, Noerr handled the complete transaction. The sale of the 22 locations in the Czech Republic, Hungary, Romania and Slovakia to XXXLutz was completed in April 2019 and included the operational retail business with over 1,500 employees and 22 properties.
Founded by Austrian entrepreneur René Benko, the SIGNA Group is a privately managed, European holding company focusing on the real estate, retail and media sectors. The company is one of Europe’s leading real estate investors with a portfolio of unique assets in prime locations valued at over EUR 14 billion and a further EUR 8 billion in assets under development. With approximately 45,000 employees and over EUR 7.5 billion in sales¾of which approximately EUR 750 million are generated online alone¾it operates well-known trading companies.
Jörg K. Menzer, CEE Regional managing partner of Noerr commented:
“We are delighted to have worked with an outstanding Austrian law firm on a truly complex cross-border transaction, which required international teamwork and multi-disciplinary skills from all our advisors. This is evidence of Noerr becoming a regional M&A force on multi-jurisdictional matters.”
Pavol Rak, Managing Partner of Noerr in Slovakia, added:
“Noerr strongly values its relationship with SIGNA Group and was very satisfied with the cooperation we received from Arnold. Because of Noerr´s strong M&A practice in Slovakia and the cooperation we received from Vienna, we were able to provide both sides with a completely satisfactory transaction.”
With more than 100 professionals, Noerr is one of the leading law firms in the CEE region. Noerr Group was granted several significant awards for engagement and results. Last year, it was named the “European Law Firm of the Year” at The British Legal Awards. As the only German firm, Noerr managed to appear among “The Law Top 50” and “Innovative Lawyers” charts compiled by the Financial Times.
Noerr’s office in Bratislava was ranked in 2018 among the top 10 international law firms in Slovakia. In 2019, Noerr is celebrating 15 years on the Slovak market.
17. Jun 2019 at 6:00