Central European law firm Schoenherr has advised Österreichische Volksbanken-Aktiengesellschaft (ÖVAG) on the sale of its subsidiary Europolis to CA Immo. CA Immo is paying EUR 272 mln for the 100% stake.
Central European law firm Schoenherr has advised Österreichische Volksbanken-Aktiengesellschaft (ÖVAG) on the sale of its subsidiary Europolis to CA Immo. CA Immo is paying EUR 272 mln for the 100% stake.
Schoenherr partner Sascha Hödl advised ÖVAG during the negotiations.
Europolis is a leading real estate company in Central, Eastern and South-East Europe and specialises in investments, asset management and real estate financing. Europolis manages 42 projects in Czech Republic, Hungary, Poland, Romania, Slovakia, Croatia, Serbia, Russia and Ukraine. In 2009 its assets under management amounted to EUR 1.6 bn.
'With the successful completion of the sale of Europolis to CA Immo, the Austrian M&A market is giving off a strong signal,' said Hödl.
Schoenherr has advised ÖVAG on a number of sales with the aim to improve the bank's financial position.
