Dusseldorf - The acquisition of the entire real,- Group department store chain from Metro AG by SCP Group S.à r.l. was successfully completed on 25 June. With the closing of the transaction, SCP takes over both the total of 276 real stores with more than 34,000 employees and annual sales of around seven billion euros as well as the supermarket chain's entire real estate portfolio consisting of 80 owned properties. This marks the largest transaction of supermarket and retail stores of this scale in Germany to date.
A CMS team led by Lead Partner Daniel Kamke and Counsel Christopher Frhr. von Lilien-Waldau provided comprehensive legal advice to SCP and strategic partner x+bricks S.A. during the transaction. After signing in February 2020, the team provided legal support in particular on the preparation and implementation of the closing as well as corporate governance issues in the context of the transaction. The team also advised on the restructuring measures associated with the transaction. Once again, the team worked in close coordination with the law firm Skadden Arps Slate Meagher & Flom, which also acted on behalf of the client in this legally highly complex and demanding transaction. CMS had previously assisted the client with the comprehensive legal due diligence and the preparation of the transaction documentation.
Luxemburg-based x+bricks S.A. invests in grocery-anchored properties such as supermarkets, discounters and retail parks. The focus is on acquiring portfolios and single properties in prosperous cities throughout Germany. According to the company’s own figures, x+bricks had acquired grocery-anchored properties worth over EUR 400 million by the end of 2019. CMS has advised x+bricks S.A. on a regular basis in the past and provided support for a number of transactions.
SCP Group S.à r.l. is an investment company based in Luxembourg. It focuses on asset-heavy investments in the US and Europe, where it specialises in acquiring commercial real estate.
Daniel Kamke, Lead Partner
Dr Maximilian Hacker, Counsel
Dr Fabian Schumann, Associate
Dr Dominic Weber, Associate, all Restructuring
Dr Christoph von Eiff, Partner
Christopher Freiherr von Lilien-Waldau, Counsel, also in lead
Nico Hannemann, Associate
Dr Thomas Jansen, Associate
Nicole Mundhenke, Associate
Dr Nora Zabel, Associate, all Corporate/M&A
Thomas Glaesmann, Partner
Dr Sören Langner, Partner
Dr Michael Rein, Principal Counsel
Amelie Schäfer, Counsel, all Labor, Employment & Pensions
Heinz Joachim Kummer, Partner
Philipp Schönnenbeck, Partner
Dr Christoph Grenz, Counsel, all Real Estate & Public
Thomas Gerdel, Partner
Dr Martin Friedberg, Counsel, both Tax Law