1 April 2010

Corio – Multi Corporation

De Brauw advised Corio on its EUR 1.3 billion acquisition from Multi Corporation of four operational shopping centres in Germany, Spain and Portugal and up to five additional development projects in Germany.

In this complex cross-border transaction De Brauw closely cooperated with the Corio in-house legal department and acted as sole lead counsel, and coordinated the various work streams and all local counsel. In Germany (where the largest part of the portfolio is located) Hengeler Müller provided specialist German law advice.

De Brauw also advised Corio as lead counsel on its simultaneous EUR 600 million equity raise to partially finance this acquisition. The equity raise took place through a documented accelerated book building.

The acquisition gives Corio the opportunity to add Europe’s largest consumer market to its existing pan-European coverage. Furthermore, a partnership with Multi was entered into, such that Corio will be uniquely positioned for future growth opportunities. The transfer of the shopping centre management organisation allows Corio to immediately build a local business unit in Germany.

Team:
M&A: Paul Cronheim, Els Boonacker, Martje de Vries Lentsch, Anja Mutsaers, Janneke van der Kroon
Capital Markets: Joost Schutte, Jan Willem Hoevers, Joost Franken, Loes Meerburg
Competition law: Erik Pijnacker Hordijk, Damianos Vainas
Compliance: Patrick Ploeger
Corporate notarial: Sophie Versteege, Myrtle Grondhuis

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