PwC Legal advises Balder on the acquisition of hotel property portfolio
Frankfurt am Main, June 15, 2018
A multidisciplinary team assembled from the PwC/PwC Legal network provided Fastighets AB Balder (“Balder”) based in Gothenburg (Sweden) with comprehensive advice on the indirect acquisition of a majority participation portfolio of seven hotel properties in Germany from the Thai FICO group by way of share deal. Ligula Hospitality Group AB (“Ligula”) acts as co-investor.
The portfolio with hotels in Berlin, Leipzig, Erfurt, Gelsenkirchen, Malente and Bad Oldesloe is the first acquisition and thus the market entrance for Balder and Ligula in Germany. Ligula Germany GmbH, a subsidiary of Ligula, will assume the long term operation of the hotels from the current operators in the course of 2018.
PwC Legal provided legal advice which focused on legal review, contract negotiation and drafting of transaction documents, and PwC Tax advised on tax matters and restructuring.
Fastighets AB Balder is a listed real estate company which shall meet the needs of different customer groups for premises and housing through local support. Balder’s real estate portfolio had a value of SEK 104 billion as of March 31, 2018. The Balder share is listed on Nasdaq Stockholm, Large Cap.
Ligula Hospitality Group is a major hotel operator in Sweden and Denmark with 30 hotels under operations.
Advisors to Balder and Ligula
PwC Legal (Germany)
Moritz Gröning (Corporate/M&A, lead); Nathan Gelbart (Real Estate, co-lead); Tanja Galander (Corporate/M&A); Christian Hohlwein (Corporate/M&A); Christoph Stoye (Real Estate, Corporate/M&A); Marcel Jeske (Real Estate); Esra Becker (Employment law)
PwC Tax (Germany)
Helge Dammann, Jana Greiser, Fanny Strelow (Tax Advice)
PwC Advisory (Germany)
Harald Heim, Lars Elfmann, Michael Küste
About PwC Legal Business Solutions:
In our global, rapidly changing business world, cooperation, restructuring, transactions, financing and social responsibility are topics that increasingly concern our clients. They need legal certainty for a wide range of complex tasks. That is why we advise them holistically and in close cooperation with PwC’s tax, human resources and finance experts and our international legal network in over 100 countries. Whether a globally active company, a public corporation or a wealthy private individual, every client has a personal contact at our firm who supports them responsibly in all matters of commercial law. In this way, we help our clients to secure their economic success in the long term.
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About PwC:
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In this document, PwC Germany refers to PricewaterhouseCoopers GmbH Wirtschaftsprüfungsgesellschaft, which is a member firm of PricewaterhouseCoopers International Limited (PwCIL). Each member firm of PwCIL is a separate and independent legal entity.
The term PwC refers to the PwC network and/or one or more of the legally independent network companies. Further details can be found at www.pwc.com/structure.
