CHSH Cerha Hempel Spiegelfeld Hlawati advised the ACRON Group and helped guide it through the public tender procedure for the acquisition of the recently completed commercial property Wien Westbahnhof A3 at BahnhofCity Wien West.
With its headquarters in Zurich and subsidiaries in Düsseldorf, Luxembourg and Dallas, to name but a few, the Swiss ACRON Group specialises in real estate investments. ACRON structures and implements indirect and closed property investments for private individuals and institutional investors in Switzerland, the United States and Germany. This acquisition sees ACRON enter the Austrian real estate market for the first time.
The transaction was structured as a share deal. All of the shares in Westbahnhof A3 GmbH & Co KG, as the owner of the commercial property Wien Westbahnhof A3 at BahnhofCity Wien West, were acquired. The shares were purchased by ACRON Wien West A3 S.A., a company based in Luxembourg. Consequently, ACRON's tried and tested concept of forming one company for each property acquired was developed further. The investment volume was approximately EUR 88.0 million.
This real estate transaction was complex not only because of the public tender procedure, but also due to the way in which the deal was structured under company law and because the property had to be separated – in terms of real estate law – from the overall structure at WestbahnCity: the Austrian target company was acquired by the Luxembourg company ACRON Wien West A3 S.A. It was necessary to implement restructuring measures immediately following the acquisition, which is why Westbahnhof A3 GmbH & Co KG is now known as Westbahnhof A3 OG.
ACRON relied on Albert Birkner and Christian Thaler for advice on all matters relating to corporate law and M&A. The Cerha Hempel Spiegelfeld Hlawati Real Estate & Construction team consisted of Johannes Aehrenthal, Manfred Ton, Peter Vcelouch and Mark Krenn. Advice on public sector law was provided by Stefan Huber, and Johannes Buchinger was responsible for providing finance advice.