Icade SA and Klépierre have announced the sale by Icade SA to Klépierre of 50% of its stake in the Montpellier Odysseum shopping and leisure centre.
Law firm Baker & McKenzie advised Icade SA on the sale of its stake. Partner Marc Mariani and local partner Florence Defradas provided real-estate advice, while Christine Daric, partner, and Sarah Kesy, advisor, provided advice on tax law.
White & Case LLP advised Klépierre. The White & Case LLP team was led by Brice Engel, partner, assisted by Louise Duvernois, Anne Petitjean, Amandine Lieurade, Noémie Baroux and Laure Sans.
CMS Bureau Francis Lefebvre’s Lionel Lenczner and Anne-Sophie Rostaing advised Klépierre on tax matters.
This transaction confirms Icade SA’s strategy of refocusing its business on offices and business parks in the Ile de France region. Following the sale, Klépierre now fully owns this major regional shopping centre, which it will also manage.
Odysseum, which opened in 2009 and is 15 minutes by tramway from Montpellier city centre, is an open-air shopping and leisure centre with 120 shops and restaurants spread out over more than 50,000 sq. m.
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