The team of GSK Stockmann, led by Dr. Philipp Mössner, advised Grand City Properties S.A. (GYC) on the Luxembourg law aspects of increasing its stake in LEG Immobilien to 20.04 %, making GYC the largest shareholder in the Düsseldorf-based residential property company. The stake is worth more than EUR 700 million.
The transaction reflects the strategy of Aroundtown SA, GYC’s majority shareholder, to expand its residential property business. With the investment, residential property becomes Aroundtown’s largest business segment, at 42 % of its portfolio. According to the company, the investment completes the build-out of its residential division.
GSK Stockmann provided comprehensive advice to GYC on the Luxembourg law aspects of the transaction, covering capital markets, corporate law and related financing matters.
Listed on Frankfurt Stock Exchange (Germany) under the ticker GYC, Grand City Properties S.A. is a specialist residential real estate company focused on investing in, managing, and renting income-generating properties. Strategically headquartered in Luxembourg, its main operations are concentrated across densely populated urban areas in Germany, the United Kingdom, and internationally.
GSK Stockmann Luxembourg legal advisers:
Dr. Philipp Mössner (Lead Partner, Capital Markets, Corporate and Finance), Chara Papagiannidi (Counsel, Corporate, Capital Markets), Andrea Carraretto (Senior Associate, Corporate and Finance), Maria Gusinski (Associate, Corporate, Capital Markets)
