Cologne – Listed construction group HOCHTIEF AG of Essen has sold its 50% stake in property company Aurelis Real Estate GmbH & Co. KG to a consortium of investors led by the current co-owner, New York-based private equity firm Redwood Grove International Partners LLP. The purchase price was not disclosed.
CMS Hasche Sigle advised HOCHTIEF on all legal aspects of the transaction. Due to the substantial size of the real estate portfolio, a particularly large team from across Germany was deployed, led by Dr Malte Bruhns.
The Aurelis shares have been held equally by a consortium comprising HOCHTIEF and Redwood Grove since 2007. 43% of the HOCHTIEF shares will now be sold to funds managed by Redwood Grove. The agreement stipulates that the remaining 7% will be sold to an independent investor.
Aurelis was originally formed by Deutsche Bahn in 2002 in order to market properties that were not required for operational purposes. It currently holds a portfolio of around eleven million square metres of land and rental properties throughout Germany. The company has projects under way in all major German cities. In 2012 it generated revenues of EUR 417.2 million through its Asset Management and Land Development divisions.
CMS Hasche Sigle
Dr Malte Bruhns, M&A, Lead
Klaus Jäger, M&A, Lead Partner
Philipp Schönnenbeck, M&A
Till Benjamin Liebau, Lead Vendor Due Diligence
Dr Martin Vorsmann, Corporate, M&A
Christian Ströbele, Corporate, M&A
Dr Jan Seelinger, Corporate, M&A
Viktor Siwzow, Corporate
Dr Thomas Link, Tax, M&A
Marcus Fischer, Tax, M&A
Dr Dirk Rodewoldt, Real Estate
Martin Krause, Real Estate
Isabel Schreyger, Real Estate
Dr Jakob Steiff, Real Estate
Dr Rajiv Chandna, Real Estate
Martin Filip, Real Estate
Dr Carsten Giersch, Real Estate
Simonetta Hahn, Real Estate
Johanna Hofmann, Real Estate
Dr Oliver Kerpen, Real Estate
Dr Simon Marschke, Real Estate
Dr Michael Bauer, Competition
Laleh Akbarian, Competition
Dr Andrea Bonanni, Employment
Dr Alexandra Otto, Employment
Dr Andreas Hofelich, Employment
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