MW Holding GmbH and CAFS Invest GmbH, both of which are affiliates of XXXLutz Group, have reached an agreement with the current owner (the successor from the restructuring of the Steinhoff Group) on the acquisition of Conforama Iberia (Spain and Portugal).
With 59 furniture outlets, Conforama Iberia is one of the most important market players in Spain and Portugal. Conforama has been operating on the Iberian Peninsula for more than 30 years. Its network of stores comprises 46 shops in Spain and 13 in Portugal. The planned takeover is subject to clearance from the competition authorities.
MW Holding and CAFS Invest were advised by a team of CERHA HEMPEL led by Managing Partner Clemens Hasenauer, LL.M./MBA (Corporate/M&A) and supported by partners Johannes Prinz (Corporate/M&A) and Harald Stingl, LL.M. (Corporate/M&A) as transaction lawyers. CERHA HEMPEL drafted and negotiated the transaction documents, coordinated the due diligence and helped guide the clients through the acquisition process.
Clemens Hasenauer: "We are delighted to have helped XXXLutz take this next step in its expansion. We were once again able to support a major Austrian company as lead counsel in an outbound transaction." The team at CERHA HEMPEL also included Lorenz Pracht (partner, corporate/M&A), Tobias Tangl (attorney, Corporate/M&A), Denise Runceanu, Hanna Gerbl, Claus Wintersteller and Sophie Stock (all associates, Corporate/M&A).
Cuatrecasas provided legal services locally in Spain and Portugal (in particular in relation to due diligence).