Unibail Rodamco acquires shares of Stadium Group Group in Centro Oberhausen for EUR 535 million
Dr. Peter Vocke and Dr. Christoph Wetzler, both partners at commercial law firm Heuking Kühn Lüer Wojtek, advised Stadium Group as initiator and joint owner of CentrO Oberhausen on the sale of their shares to publicly listed real estate and investment firm Unibail-Rodamco SE (Paris).
A partnership between Unibail-Rodamco and the Canadian pension fund Canada Pension Plan Investment Board (CPPIB) is thereby created. CPPIB had already acquired 50 percent of Stadium Group's shares in CentrO Oberhausen in 2011. The advisors had already worked on behalf of Stadium Group at the time as well.
Altogether, Unibail will pay EUR 535 million before transaction cost for the shares, of which EUR 469 million will fall due prior to closing. The execution of the transaction is subject to the approval by the EU Commission as responsible competition authority.
CentrO, opened in 1996 with 160,000 square meters of leasing surface and 17,000 square meters of extension surface, lies in the heart of the Ruhr district and consists of different project parts: the shopping center with 200 retail businesses as well as 22 bars and restaurants, an arena with 12,000 seats, a recreational park and a business park.
Counsel to Stadium Group
Heuking Kühn Lüer Wojtek:
Dr. Peter Vocke (Lead),
Christoph Nöhles, LL.M.,
Kathrin Therese Fischer (all Real Estate),
Dr. Georg Jacobs, LL.M. (Trademark Law, IP),
Dr. Holger Lüders (Employment Law), all Düsseldorf,
Dr. Christoph Wetzler (Lead),
Dr. Till Naruisch (both Corporate and Finance), both Frankfurt.