We have advised Tatra Asset Management on its joint acquisition of Aupark together with WOOD & Company, the transaction leader.
WOOD & Company and Tatra Asset Management as joint venture partners will in the first step acquire from Unibail-Rodamco-Westfield 60% stake for a total acquisition cost of EUR 450 million (at 100%). Subject to standard conditions precedent, the completion of the transaction is expected in the second quarter of 2021. The remaining 40% stake will be acquired by the joint venture partners from Unibail-Rodamco-Westfield in multiple stakes until 2024.
Aupark is an established flagship shopping centre with a strong market position due to its proximity to Bratislava’s city centre and attractive offer of retailers, as wells as leisure and entertainment activities.
Tatra Asset Management is Slovakia’s largest manager of investment funds in the total amount of EUR 2 billion and Tatra Banka’s subsidiary.
Our corporate and real estate teams have worked on many important corporate real estate deals in Slovakia. The creation of the joint venture for Tatra Asset Management represents another important mandate for Taylor Wessing and it is a clear testimony to the experience and capabilities of our expert team of lawyers. We look forward to watching Tatra Asset Management’s strategy and portfolio develop in the coming years.”
Juraj Frindrich | Partner Taylor Wessing Slovakia
