Kochanski Zieba & Partners (acting as Polish counsel), Cliffe Dekker Hofmeyr (as South African Counsel), and Pinsent Masons (as UK counsel) have advised Redefine Properties Ltd on its acquisition of a majority stake in Echo Prime Properties B.V. The seller was advised by Weil, Gotshal & Manges.
The deal, concluded on 1 March 2016, consists of a share purchase and subscription agreement with Echo Investment S.A. and EPP whereby Redefine will acquire 75 per cent plus one share of the issued share capital of EPP, which indirectly owns a portfolio of prime real estate assets throughout Poland.
Redefine’s intention is to reduce this stake to approximately 50 per cent through the immediate on-sale of a portion of the EPP shares to a consortium of selected co-investors, on the same terms as those governing Redefine’s acquisition of the EPP shares.
The KZP team advising Redefine on Polish matters was led by Adam Piwakowski, partner and head of international practice development and strategy. The team also included co-managing partner Rafal Zieba, senior partner Rafal Rapala, partners Kamil Osinski and Szymon Galkowski, and senior associate Aleksandra Polak.