Global law firm Dentons has advised Nexity, France’s leading real estate group, on a preliminary agreement to sale 100 percent of shares in its Polish subsidiaries to Develia – one of the largest real estate developers in Poland, listed on the Warsaw Stock Exchange.
The agreement concerns the acquisition of 100 percent of shares in 19 Polish subsidiaries of Nexity. Develia will also obtain control over 10 limited partnerships conducting real estate development activities in Poland. The price set in the preliminary agreement amounts to €100 million. The closing of the transaction is subject to approval by the merger control authority.
Nexity Group has been operating on the Polish market since 2011. The company has delivered over 3,500 apartments in 12 residential projects spanning across Warsaw, Poznań and Kraków.
Dentons provided Nexity with comprehensive legal and tax advice. The transaction was led by partners Michał Wasiak (Corporate and M&A) and Magdalena Szwarc-Brożyna (Real Estate). Core team members included also Natalia Ławniczak-Kozioł (senior associate) and Aleksandra Redzisz (associate) from the Corporate and M&A practice, Magdalena Witka (associate) from the Real Estate practice; Tomasz Krasowski (managing counsel) and Damian Bugaj (senior associate) from the Tax team.
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