Clément Konrad & Partners has advised Pandox on the Luxembourg corporate law and finance law aspects linked to the acquisition of a portfolio of 4 hotels located in Germany, two in Austria and one in the Netherlands, with a total of 1,744 rooms, held via Luxembourg holding companies.
The brands of the hotels sold by Invesco are NH, Radisson Blu and Park Hotel.
This acquisition, financed by a new bank loan and existing credit facilities, is expected to be completed before year-end 2016.
Following this acquisition, Pandox, listed on the Stockholm Stock Exchange and one of Europe’s leading hotel property companies, has now more than 110 hotels with more than 24,000 hotel rooms.
Christophe Clément (Partner), Theodore J. Fisher (Of Counsel) and Réda Faïd (Associate) worked alongside Jones Day Düsseldorf, Vavrovsky Heine Marth as well as KPMG Düsseldorf for Pandox on due diligence, structuring and re-financing aspects.
Advisors of Pandox:
Jones Day (Düsseldorf): Dr. Ulrich Brauer (lead counsel; M&A), Claudia Leyendecker (Banking and Finance), Johannes Zöttl (Competition law), Christian Trenkel (Real Estate), Dr. Johannes Willheim (Austrian Law), Markus Hamann (Public construction law; both in Frankfurt), Dr. Zhaoxia Chen (M&A), Mathias Rabe (Banking and Finance), Anna Zwalve (Bank and Finance; Amsterdam), Associates: Dr. Stella Greisbach (M&A; Düsseldorf), Dr. Verena Alof (Real Estate), Annegret Andrée (Public construction law, both in Frankfurt), Bastiaan Kout, Reinout Bautz, David Weinstein (all M&A); Flip van der Drift (Banking and Finance).
Vavrovsky Heine Marth (Vienna): Christian Marth, Associate: Lisa Haslinger (both M&A).
KPMG (Düsseldorf): Oliver Dörfler (Tax).
Clément Konrad & Partners (Luxembourg): Christophe Clément, Theodore J. Fisher, Réda Faïd.