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act BSWW advises YIT on acquisition of Parkur Tower business park from UBM

act BSWW (act legal Poland) was providing legal consulting services for YIT (Finnish developer listed on the stock exchange in Finland) in regard to the purchase of 100% shares in GF Ramba, a company belonging to UBM capital group (Austrian developer).

GF Ramba is the perpetual usufructuary of the land on which Parkur Tower business park is located at Kłobucka 25 in Warsaw.

YIT intends to develop 400 (four hundred) residential apartments with accompanying infrastructure on the site.

The range of services provided by act BSWW included all aspects of the transaction – from the letter of intent, through a due diligence analysis of GF Ramba, its assets, permits and the property, negotiation and closing of agreements with the bank financing the acquisition, to negotiation and closing of the share purchase agreement and other transaction-related documents.

With respect to services pertaining the Austrian law, act BSWW was cooperating with act WMWP (act legal Austria).

act legal is an alliance made up of law firms based in Austria, Belgium, Czech Republic, France, Germany, Hungary, the Netherlands, Slovakia and Poland.

Michał Wielhorski (Managing Partner at act BSWW) acted as the team leader. He was supported by Małgorzata Wąsowska (Tax Advisor, Partner) and Mateusz Prokopiuk (Associate).

Dr Roman Hager (Partner) from act legal Austria advised as to all aspects of the Austrian law.

“We are more than happy to have been given a chance to cooperate with such a renowned partner. Parkur Residence is an absolutely unique investment project. The transaction was very complex and entailed advisory services covering the Polish and Austrian legal systems. We are proud to have been able to effectively support YIT in this project.” says Michał Wielhorski, Attorney-at-law, Managing Partner and team leader.

About act legal: It provides a comprehensive range of top-quality legal services, meeting the challenging expectations of companies, partnerships, sole traders and investors. With offices in continental Europe’s major markets, it combines the skills, knowledge and experience of approx. 300 professionals.

About YIT: One of Europe’s largest developers, operating in Poland since Q3 2015. The formation of the Polish branch is an element of the company’s long-term CEE growth strategy.

Media contact – act legal Polska: Marta Bieniakońska | | +48 22 420 59 59
Media contact – act legal Austria: Maraja Fistanic | | +49 69 24 70 97 – 22

act BSWW legal & tax (act legal Poland) was advising Comp S.A. (acting as the seller) on its M&A transaction with an entity belonging to SIBS – SGPS S.A. capital group (Portugal)

act BSWW legal & tax (act legal Poland) was advising Comp S.A. (acting as the seller) on its M&A transaction with an entity belonging to SIBS – SGPS S.A. capital group (Portugal). The deal involved the sale of 100% shares in PayTel S.A., a company headquartered in Warsaw, holding the status of a National Payment Institution (registered with the Polish Financial Supervision Authority). The transaction is made up of four stages. The first will see Comp S.A. selling 55% shares for PLN 34m, while the remaining 45% will be sold in 3 phases of 15% each over the subsequent years. The price will be determined on the basis of specific results defined in the agreement, with the cap set at PLN 200m. The team was led by Piotr Wojnar (Attorney-at-law, Managing Partner) and Janusz Szeliński (Attorney-at-law, Partner). They were supported by Łukasz Polak (Senior Associate) and Aleksandra Sztajer (Associate).