KPMG assisted Unibail Rodamco Westfield, a leading global developer and operator of retail assets, in the sale of their stake in Aupark a.s. owning the popular Aupark Bratislava shopping centre. The value of this deal was EUR 450 million which is the largest ever real estate acquisition in the Slovak market to date. The deal, subject to the customary regulatory approvals, was closed on 28 May 2021.
Wood & Company, as the transaction leader, together with its JV partner Tatra Asset Management, initially acquired a 60% interest for an agreed total acquisition cost of €450 million (at 100%). The remaining 40% will be acquired through pre-agreed stakes in 2022, 2023 and 2024. The total acquisition cost is in line with the gross market value (GMV). In light of the impact of the ongoing COVID-19 pandemic, URW has provided a three-year rent guarantee and a participative loan, including an earn-out mechanism.
KPMG acted as financial adviser to Unibail Rodamco Westfield during the whole selling process of the Aupark Bratislava shopping centre. KPMG provided comprehensive advisory services throughout the transaction, from tax structuring to defending the deal value.