Wildgen Assisted Warimpex and UBM in the Sale of 2 Hotels to an International Investor
_Partner David Maria and Senior Associate Jérémie Ferrian, are very proud to have assisted Warimpex Finanz- und Beteiligungs AG and UBM Development AG (two real estate companies) in the sale of two of their hotels located near Disneyland® Paris.
Warimpex and UBM have successfully closed the sale of the Vienna House Dream Castle and Vienna House Magic Circus hotels at Disneyland® Paris to a 50/50 joint venture between UK-based private equity fund manager Benson Elliot Capital Management and Schroder Real Estate Hotels (formerly Algonquin).
Warimpex and UBM developed the hotels as part of a 50/50 joint venture and now sold them at a price of around EUR 118 million. The transaction was first announced in August 2019 and was subject to the usual prerequisites for such transactions in France – in particular the positive outcome of the employee consultation process. These have now been fulfilled and the transaction was completed on 27 September.
Wildgen acted as Luxembourg legal advisor to Warimpex and UBM and Taylor Wessing acted as French legal advisor.