CMS advised Invesco Real Estate, a global investment management firm, on the purchase of Wawel Holding Sp z o.o., the company owning the Sheraton Grand Kraków Hotel. DZP advised Algonquin, a pan-European hotel investor and operator, on the sale of Wawel Holding sp. z o.o.
The transaction closed on 28 February 2017 for a total value of €70 million.
“The transaction was particularly interesting due to the significance of the Sheraton Grand Krakow Hotel for Krakow's hospitality market." said Wojciech Szybkowski and Adriana Andrzejewska from CMS, while Bartosz Marcinkowski and Marcin Kuliński from DZP stressed the complexity of the deal, not unusual in the hotel sector.
CMS's work was coordinated by Wojciech Szybkowski, partner, and Adriana Andrzejewska, senior associate, working together with Piotr Przybylski, associate in the Real Estate Practice. Małgorzata Urbanska, partner, and Michal Derdak, senior associate, from the CMS Competition team, advised on antitrust clearance for the transaction. Konrad Werner, senior associate, from the Banking and Finance Practice was also involved in the project.
DZP’s work was led by Bartosz Marcinkowski, partner, and Marcin Kuliński, senior associate, assisted by Agata Iżyk, associate, all from DZP's M&A & Corporate Practice, with key contributions from Magdalena Skowrońska, partner, Paulina Armada-Rudnik, associate, both from DZP's Capital Markets and Financial Institutions Practice and Joanna Wierzejska, tax partner in DZP's Tax Practice.