Dentons’ Prague office has advised Rockcastle Global Real Estate Company Limited on its acquisition of the Forum Liberec shopping center from the British retailer Tesco via a share deal worth approximately EUR 80 million. Tesco was advised by Wilson & Partners.
Forum Liberec is a regional shopping center located in the heart of Liberec, the capital of the North Bohemia region of the Czech Republic. According to Dentons, the 47,000 square meter center is visited by over 12 million people per year, and its tenants include retailers Tesco, Cinema City, C&A, Datart, Gant, H&M, Lindex, New Yorker, Nord Blanc, Norma, ProBest, Reserved, Sportissimo, and Tiger.
Rockcastle is a retail property investor and developer listed on the Stock Exchange of Mauritius and on the Board of the Johannesburg Stock Exchange Limited. According to Dentons, "Rockcastle’s strategy is to acquire, develop and manage dominant retail assets in Central and Eastern Europe with high-growth potential,” and “it has a significant retail property portfolio in Poland and investments in global listed property stocks in the UK, USA and Europe.” The acquisition of Forum Liberec is its first investment in the Czech Republic.
Spiro Noussis, Rockcastle CEO, commented: “This deal marks an important step in our development in the Czech Republic and Central Europe, and we very much appreciate Dentons’ support throughout the transaction.”
Dentons’ team was led by Partner Jiri Strzinek and Counsel Marketa Tvrda.
The Wilson & Partners team consisted of Partner Bryan Wilson and Monika Kajankova.
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