The transaction required sophisticated cross-border structuring and extensive negotiations with the asset manager. The transition from a fund to a joint venture was achieved through a complex multi-stage process, with some residual assets remaining in the fund before the fund's liquidation process begins.
"We provided comprehensive tax and corporate advice on this cross-border restructuring. The structural challenges involved in the transition from a fund to a joint venture required close cooperation with our European colleagues," said partner Sibylle Novak, who is delighted with the successful deal.
She was joined by lawyer Thomas Aspalter as part of the Austrian team. The international CMS team spanned several jurisdictions and was led by Amanda Howard and Nick Burt (both CMS UK).
