Linklaters has advised Develia S.A., one of Poland’s largest developers, on the preliminary sale agreement concerning the acquisition of 100% of the shares in Polish subsidiaries of Nexity S.A., the leading French developer. The agreed purchase price is EUR 100 million, subject to adjustments agreed by the parties. With the acquisition, Develia will increase the number of units under construction by ca. 1,400, and its land bank by ca. 2,200 units, in Warsaw, Kraków and Poznań.
The acquisition will strengthen Develia’s development potential on the Polish residential market. The company will primarily increase its offering in Warsaw and Kraków. Develia will also enter Poznań, where it has not been present so far.
The preliminary sale agreement concerns the acquisition of 100% of the shares in 19 Polish companies being subsidiaries of Nexity. Develia will additionally take control over 10 limited partnerships (whose limited and general partners are acquired companies), conducting development activity in Poland. The agreement shall be finalized by 30 September 2023, subject to obtaining the approval of the President of the Office of Competition and Consumer Protection.
The transaction was led by Tomasz Trystuła (managing associate), supported by Marta Strykowska (associate). The wider real estate team included Ewa Sinkiewicz (managing associate), Maksymilian Hau (associate), Samanta Wenda-Uszyńska (senior associate) and Joanna Roman (associate). Wojciech Podlasin (managing associate) and Barbara Wanat (senior associate) advised on the competition law aspects. Szymon Sieniewicz (managing associate, head of TMT/IP practice) and Sandra Słowik (junior associate) provided intellectual property and data protection advisory. Monika Krzyszkowska-Dąbrowska (counsel, head of employment practice), Łukasz Burakowski (managing associate) and Jakub Korobczuk (junior associate) advised on employment law aspects.
