Legal DealFolio - Carmila Acquisition of European Shopping Centres

International law firm Clifford Chance advised Carrefour and Carmila in relation to the acquisition of 126 shopping centers in France, Spain and Italy owned by Klepierre and valued EUR2 billion on the market. The company CARMILA created by Carrefour and co-investment partners is dedicated to enhancing the value of the shopping centers adjacent to Carrefour hypermarkets in France, Spain and Italy. CARMILA owns a portfolio of 171 shopping centers comprising: 126 sites in France, Spain and Italy acquired on April 16, 2014 from Klepierre for a market value of EUR2.0 billion; 45 sites in France contributed by Carrefour with a market value of EUR0.7 billion. As a result, CARMILA holds a real estate portfolio valued EUR2.7 billion and Carrefour will own 42% of CARMILA, alongside major international investors. The initial funding of this transaction consists of a EUR1.8 billion in equity, contributed by co-investment partners for EUR1.0 billion and by Carrefour for EUR0.8 billion (of which EUR0.7 billion through the transfer of assets and EUR0.1 billion in cash). Additionally, CARMILA has obtained bank credit facilities for the balance of EUR0.9 billion. Clifford Chance advised Carrefour with a team comprising Mathieu Remy (partner), Marianne Pezant (counsel), Justine Souchay and Marie-Aude Kfouri for the equity aspects.

Deal Date:	29-04-2014	Practice Area:	Real Estate
Deal Title:	Carmila Acquisition of European Shopping Centres	Industry:	Real Estate Investment & Services
Description:	International law firm Clifford Chance advised Carrefour and Carmila in relation to the acquisition of 126 shopping centers in France, Spain and Italy owned by Klepierre and valued EUR2 billion on the market. The company CARMILA created by Carrefour and co-investment partners is dedicated to enhancing the value of the shopping centers adjacent to Carrefour hypermarkets in France, Spain and Italy. CARMILA owns a portfolio of 171 shopping centers comprising: 126 sites in France, Spain and Italy acquired on April 16, 2014 from Klepierre for a market value of EUR2.0 billion; 45 sites in France contributed by Carrefour with a market value of EUR0.7 billion. As a result, CARMILA holds a real estate portfolio valued EUR2.7 billion and Carrefour will own 42% of CARMILA, alongside major international investors. The initial funding of this transaction consists of a EUR1.8 billion in equity, contributed by co-investment partners for EUR1.0 billion and by Carrefour for EUR0.8 billion (of which EUR0.7 billion through the transfer of assets and EUR0.1 billion in cash). Additionally, CARMILA has obtained bank credit facilities for the balance of EUR0.9 billion. Clifford Chance advised Carrefour with a team comprising Mathieu Remy (partner), Marianne Pezant (counsel), Justine Souchay and Marie-Aude Kfouri for the equity aspects.
Financial Center:	Paris	Value:	1000.01-5000.00
Advised Party:	Purchaser	Law Firm	Clifford Chance
Real Estate Jurisdiction	France,Italy,Spain	Purchaser Jurisdiction	France
Classification:	Real Estate Acquisitions and Disposals Shopping Centre	Lawyer	Mathieu Remy

Practice Areas -

Real Estate Law Firms and Lawyers

Practice Areas - Real Estate Law Firms and Lawyers