CMS advised the founders of the controlling companies of Mila SA, owner of the MILA supermarket chain, on the sale of 100 % shares to Eurocash Group for PLN 350 million. The preliminary sale agreement was signed on 15 September, and the closing of the transaction depends on obtaining consent from the Polish Office of Competition and Consumer Protection (UOKiK).
Currently, Mila SA owns a chain of 188 stores with average retail space above 460 sq. m., located mostly in Central Poland.
The scope of CMS’s work included providing advice to selected partners (founders) with regard to the conditions of cooperation between Mila SA partners, terms and conditions of the sale agreement as well as real property-related matters. Two other renowned law firms were involved on the sellers’ side.
The transaction was handled by a team headed by Dariusz Greszta, partner in the Corporate/M&A Department, comprising: Zuzanna Jurga, legal counsel and senior associate and Piotr Przybylski, advocate and senior associate from the Warsaw real estate practice.
This year, CMS lawyers also advised on the sale of the Żabka Polska chain of supermarkets – the largest transaction in the segment of the Polish food retail segment, which at the same time was the largest exit of a private equity fund from an investment in Poland. The chain of supermarkets under the business name of Żabka and Freshmarket was taken over from Mid Europa Partners by CVC Capital Partners, a fund for whom it will be the second investment on the Polish market. CMS lawyers previously also worked on Żabka’s acquisition by Mid Europa Partners in 2011 and advised Żabka Polska with respect to acquisitions of several local retail chains.