DLA Piper has advised Heidelberger Druckmaschinen AG (Heidelberg) on the sale of an area of around 130,000m2 to the VGP Group as part of its planned site and structural optimization measures. A new, modern industrial and commercial park is to be built at the Wiesloch/Walldorf site. A corresponding purchase agreement was signed on December 23, 2020. Heidelberg is achieving a purchase price in the mid-double-digit million euro range.
The Wiesloch/Walldorf site covers a total area of around 840,000m2. Of this, around 270,000m2 are to be newly marketed in the course of the planned site and structure optimization. The partnership with VGP is the first step in this project. At present, almost 5,000 employees work at the site.
VGP is a family-run European developer, operator and owner of high-quality logistics and commercial properties. The company has a fully integrated business model and many years of experience along the entire value chain, from land acquisition and development to asset and property management. The VGP Group currently operates 31 parks in Germany. In Europe, the company based in Antwerp, Belgium, now operates 76 parks in twelve countries.
By using space more efficiently, Heidelberg will save considerable costs in the future. In addition, the company will use the funds this frees up to strengthen the liquidity in times of the COVID-19 pandemic and to press ahead with strategic investments for the future on the path of the digital transformation.
The DLA Piper team was jointly led by partners Fabian Mühlen (Real Estate, Frankfurt) and Dr Benjamin Parameswaran (Corporate/M&A, Hamburg) and comprised of partner Dr Marie-Theres Rämer (Tax) as well as senior associates Sonja Beier (all Frankfurt) and Moritz Mursa (Cologne, both Real Estate).
The aim of Heidelberg is to ensure the long-term financial stability of the company, and all the measures since the transformation started this year have been geared toward this objective. Under the leadership of partners Dr Benjamin Parameswaran, Dr Henriette Norda and Mike Danielewsky DLA Piper provides comprehensive legal advice for all these measures.
