SEPTEMBER 2014

Transactions

BGP Immo-West's real estate portfolio has been completely sold

In his function as insolvency administrator, Stephan Ammann from PLUTA Rechtsanwalts GmbH was able to sell the entire real estate portfolio of the residential property company BGP Immo-West, despite insolvency. By the summer of 2012, the Local Court of Munich had opened insolvency proceedings concerning the assets of BGP Immo-West S.à.r.l. & Co. KG. At this time, the company had owned a portfolio of roughly 2,400 residential and commercial units.

The closing of the purchase agreement with various fund management companies of Ares Management L.P. concerning 1,692 residential units occurred at the end of July 2014. This company headquartered in Los Angeles, which is active worldwide and manages assets of approximately 71 billion US dollars, took over roughly 108,000 square meters of residential space in several large cities in western and north-western Germany. This means that the target of selling the remaining units from BGP Immo-West’s portfolio as a package has been achieved. The parties have agreed to maintain silence on the purchase price. LM

Ares Management acquires real estate portfolio of BGP Immo-West

Insolvency administrator’s consultants:

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Asset management consultant to Ares:

Due diligence & contract drafting provider:

Tax advisor:

Advisor to ING Bank:

This announcement appears as a matter of record only

Gaming Realms to acquire Blueburra

Online gaming products publisher Gaming Realms has conditionally agreed a deal to purchase specialist eGaming marketing company Blueburra Holdings, the operator of the Bingoport.co.uk affiliate website, for up to £10.5 million (€13.2 million/$17.5 million).

The deal will include an initial consideration of £5 million to be satisfied by an equal split of cash and new ordinary shares issued at £0.33 each.

The remaining consideration will be paid over the next three years, subject to the fulfilment of various earn-out targets and adjustments. These payments will comprise an additional £2.75 million in cash and £2.75 million through the issue of ordinary shares.

Legal advisor to the vendor:

Blueburra, the holding company of marketing company Digital Blue, also owns a number of other Dragonfish-powered white label bingo skins.

Gaming Realms said that the acquisition is consistent with its long- term strategy to increase the combined database of its subsidiaries and enhance its revenues by focusing on product and marketing initiatives. LM

Legal advisor to the management team

Gaming Realms to acquire Blueburra

Financial advisor to the vendor:

This announcement appears as a matter of record only www.lawyer-monthly.com

BGP Immo-West

Blueburra