IVG advised by CMS Germany on successful sale of TRIUVA to PATRIZIA
Düsseldorf – Bonn-based financial holding company IVG Immobilien AG (“IVG”) has sold its shares in TRIUVA Kapitalverwaltungsgesellschaft mbH (“TRIUVA”) to PATRIZIA Immobilien AG of Augsburg (“PATRIZIA”). IVG launched a structured sales process in May of this year. More than 60 German and international companies expressed their interest in TRIUVA in an extensive bidding competition. The parties agreed not to disclose details of the purchase price.
A CMS team headed by Dr Jürgen Frodermann advised IVG on all aspects of the preparatory structuring and implementation of the complex transaction. Fund and mining law aspects also had to be considered, since BaFin and the CSSF regulate TRIUVA as an investment management company and assets of the funds managed by TRIUVA include underground reservoirs used for storing oil and gas.
IVG is a financial holding company focusing chiefly on exercising the shareholder rights associated with its equity stakes. In addition to its investment in operating firm TRIUVA and cavern operating company Storag Etzel GmbH, IVG also holds on-balance-sheet real estate assets in Germany, Belgium and Finland in its investment portfolio.
Alongside PATRIZIA, TRIUVA is the leading provider and manager of structured real estate products for investors in Germany, with assets under management of around EUR 9.8 billion.
PATRIZIA has been active as an investment manager in the real estate market across 15 European countries for more than 30 years. As a global provider of real estate investment opportunities, the company operates throughout Europe and has property assets worth around EUR 21 billion under management.
CMS Germany
Dr Jürgen Frodermann, Lead Partner
Dr Sebastian Becker, Partner
Dr Christoph von Eiff, Counsel
Christopher Freiherr von Lilien-Waldau, Senior Associate
Dr Roman Sprenger, Senior Associate
Dr Reimund Marc von der Höh, Senior Associate
Arthur Baron, Associate
Nela Vasova, Associate, all Corporate
Thomas Gerdel, Partner
Marcus Fischer, Counsel
Dr Martin Friedberg, Senior Associate, all Tax
Daniel Kamke, Partner
Maximilian Hacker, Counsel
Julia Hellberg, Business Lawyer, all Restructuring and Insolvency
Thomas Glaesmann, Partner
Amelie Schäfer, Senior Associate
Dr David Kruchen, Senior Associate
Judith Cremer, Associate, all Employment
Dr Fritz von Hammerstein, Partner
Dr Christiane Kappes, Partner
Sebastian Belz, all Public Law, especially Mining Law
Dr Daniel Voigt, Partner
Axel Dippmann, Partner
Sebastian Schwack, Counsel
Dr Florian Leclerc, Associate, all Banking & Finance and German fund regulation
Press Contact
presse@cms-hs.com
