TRARESTRA supported Eight Advisory on FFP’s acquisition of a minority share in Signa Prime Selection AG (“Signa Prime”). TRARESTRA provided tax due diligence and structuring advice on this deal.
On June 17th 2019, FFP (listed on Euronext Paris) signed a final agreement for the acquisition of a 5% stake in Signa Prime for €186m.
Founded in 2010 by the Benko family, Signa Prime is one of the largest non-listed commercial Real Estate companies in Europe. Headquartered in Austria, Signa Prime owns a €11bn portfolio, mainly offices and retail assets in Germany and Austria. Signa Prime portfolio includes flagship department stores like KaDeWe Berlin or Karstadt Munich and high-street retail areas like the “Goldenes Quartier” in Vienna.
The stake in SIGNA Prime was acquired from its majority shareholder Signa Holding GmbH, which is indirectly owned by René Benko.
See also the Press Release.