SEPTEMBER 2014
Transactions
BVK, Deutschen Hypothekenbank and BNP Paribas Reim Germany take over the financing of Leipziger Platz
Shareholders of the district are Arab Investment from London and Berlin High Gain House Investments (HGHI) who build the Mall of Berlin on the site. The mall is scheduled to open in just over a month and accommodate 270 shops and restaurants around 80,000 square meters.
The initial development funding was provided by various banks to the DG Hyp. Is unusual in the now-enters consortium that an insurance company, a bank and funds have come together. The lion's share of funding in the amount of 450 million euros, the BVK. The German Hypo committed 80 million euros and BNP Paribas with 70 million euros.
GÖRG acted as legal advisor to the main investor, Arab Investments Ltd., in all aspects regarding the long-term financing of the current biggest European inner-city shopping centre to be opened on 25 September 2014.
Within GÖRG, the real estate partner Daniel Seibt was the overall project leader, who also advised with his team on all real estate aspects of the transaction and the acquisition of the project since 2010. Together with him, his partner Dr. Kirsten Schümann-Kleber led the financing team assisting in the drafting and negotiation of the financing documents up to the signing. The GÖRG team is also still involved in the still ongoing completion and closing process. In addition, the transaction required comprehensive corporate law and M&A input which was provided by Dr. Karla Gubalke and her team.
The long-term financing with a total volume of EUR 600 million was provided by a consortium of banks, pension funds and debts funds. According to the financing parties, the financing is the biggest ever
provided in Germany by mainly non-banks. LM
Funtastic Ltd sells share capital in the Madman group of companies to Madman Film and Media Pty Ltd
Clarendon Lawyers has recently advised ASX listed, Funtastic Limited, on the sale of the Madman group of companies to a consortium of investors including, (amongst others), the original founders of the business, Tim Anderson and Paul Wiegard. The agreed sale price under the agreement is AUD$21.5m, subject to usual post completion working capital adjustments.
The Clarendon Lawyers team advising Funtastic was led by directors Tony Symons and Robert Josephs and assisted by associate Billy Dwyer. Tony Symons commented: “We are delighted to continue our strong relationship with Funtastic by advising them on the sale of Madman. The sale represents a key divestment for Funtastic. For our firm to contribute to the achievement of such a strategic goal is extremely pleasing”.
Final completion and settlement occurred on 31 July 2014, the last day of Funtastic’s financial year. Net proceeds from the sale have been applied to debt reduction which will significantly strengthen Funtastic’s financial position.
Clarendon Lawyers is a boutique Australian corporate law firm, specialising in mergers and acquisitions, with extensive experience advising Australian and international clients across a range of sectors. LM
Legal advisor to the Madman Group of companies This announcement appears as a matter of record only
Funtastic to sell share capital in the Madman group of companies to Madman Film and Media Pty
Legal advisor to Funtastic
BVK, Deutschen Hypothekenbank and BNP Paribas Reim Germany take over the financing of Leipziger Platz
Legal advisor to BVK and Deutsche Hypo:
71
Legal advisor to BNP Paribas:
Advisor to Arab Investments:
Advisor to High Gain House Investments:
This announcement appears as a matter of record only
www.lawyer-monthly.com
Leipziger Platz
Madman Group
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