Global law firm Norton Rose Fulbright has advised Frasers Centrepoint Limited and its subsidiaries (Frasers) in relation to its conditional agreement to acquire a 86.56 per cent stake in Geneba Properties N.V. from Catalyst RE Coöperatief U.A. for € 315.9 million (approximately S$471.6 million), subject to adjustments. Geneba is an Amsterdam-based real estate investment company listed at the SME stock exchange NPEX.
Frasers, an international real estate company with total assets of over S$25 billion, as of 31 December 2016, has also reached a conditional agreement with Geneba on an all-cash offer for the remaining 13.44 per cent free-float in Geneba. This offer will be launched no later than one month from the closing date of Frasers' acquisition of the 86.56 per cent stake in Geneba.
Ep Hannema, partner, Norton Rose Fulbright commented:
“We are delighted to have advised Frasers on this acquisition in which they are able to expand their business across further geographies and continue to strengthen their offering. It is great to see these types of transactions in the real estate market and they look set to continue.”
The Norton Rose Fulbright team was led by partner Ep Hannema with assistance from senior associate Rogier de Haan. Partner Daphne Broerse and associate Annemarie Creutzberg provided real estate due diligence in the Netherlands. Partner Floortje Nagelkerke assisted on Dutch financial regulatory aspects. In Germany, real estate due diligence was provided by partner Thomas Hopf, senior associate Gabriele Bruchmann, associate Madeleine Arens and of counsel Felix Dinger. Associate Klaus von Doehren assisted on the German corporate due diligence.
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