European law firm Schoenherr has advised the Austrian real estate group IMMOEAST on the sale of WIPARK Garagen AG, a leading operator and provider of parking facilities in Austria and Hungary.
The sale of WIPARK was run as a public auction, from which STPM Städtische Parkraummanagement Gesellschaft mbH and Parkraum Wien Management GmbH, companies of the Vienna city group (Wiener Stadtwerke), emerged as the winning bidder.
"In the final round, we were running parallel negotiations with the three remaining bidders, with the goal to secure the best package for the client," says partner Michael Lagler. "The negotiations were fair but to stay on top of things, during what was effectively a week-long negotiation, took a lot of dedication from everyone involved. In the end, an interesting and challenging transaction."
Schoenherr's transaction team was led by Michael Lagler and Florian Kusznier (junior partner), who were supported by Daniel Damjanovic (senior associate) and, as to real estate matters, by Alexandra Huber (junior partner) and Erna Hackl (senior associate) in Vienna as well as by Dániel Kellner (senior associate) from the Budapest office.
On the competition side, Hanno Wollmann (partner) and Christoph Haid (junior partner) secured clearance by the Austrian competition authorities. The buyers were advised by Peter Winkler and Dieter Thalhammer of Eisenberger & Herzog.