Gide has advised BNP Paribas REIM France on signing an agreement between its OPCI BNP Paribas Diversipierre and the real estate investment company Frey, on Diversipierre's acquistion of a stake in a vehicle holding the Algarve Shopping & Albufeira Retail Park commercial complex located in southern Portugal. This acquisition concerns 30% of the shares of the vehicle held by Frey.
The transaction is expected to be completed before the end of December 2019, on the basis of the price agreed last July when Frey acquired 100% of the asset: €179.3 million including transfer taxes.
The Gide team that advised BNP Paribas REIM was led by Jean-François Levraud, partner, working with Marion Toualit and Clémence Viaud, associates, on real-estate law matters, Thomas Urlacher, partner, on M&A matters and Emmanuel Reille, partner, on competition law matters.
The Spanish firm Cuatrecasasas, Gonçalves Pereira & Associados advised on all Portuguese law aspects of the transaction.
Frey was advised by French firm De Pardieu Brocas Maffei and Portuguese firm Abreu - Advogados.