Central European law firm Schoenherr has advised listed Immofinanz on its approximately 7.9 billion merger with Immoeast. The merged Immofinanz/Immoeast will be one of the top 10 real estate companies worldwide and among the top three in Central and Eastern Europe.
Schoenherr has been advising on various steps of the restructuring of Immofinanz. Prior to the 2010 merger with Immoeast, Schoenherr advised on the 2009 Immofinanz convertible bonds exchange offer directed to holders of Immofinanz' outstanding 1.5 billion convertible bonds; the 2009 restructuring of Immofinanz' 415 million senior syndicated credit facility; the 1.46 billion sale of Immofinanz's subsidiary Immo-austria holding the Group's entire Austrian real estate portfolio to Immoeast; and the 2009 sale of selected prime real estate and financial investments to satisfy liquidity needs in the short term.
Schoenherr partners Stephan Frotz and Peter Konwitschka advised Immofinanz on the transaction. Immoeast was represented by Hanns F. Hügel of bpv hügel, Vienna.