Frank\u00adfurt \u2014 The inter\u00adna\u00adtio\u00adnal law firm Weil, Gotshal & Manges LLP advi\u00adses NRDC Equity Manage\u00adment Company on the acqui\u00adsi\u00adtion of Gale\u00adria Karstadt Kauf\u00adhof out of insol\u00advency. Toge\u00adther with entre\u00adpre\u00adneu\u00adrial part\u00adner Bernd Beetz, NRDC has won the bidding process for the insol\u00advent depart\u00adment store chain Gale\u00adria Karstadt Kauf\u00adhof and concluded the inves\u00adtor agree\u00adment with the insol\u00advency admi\u00adnis\u00adtra\u00adtor Stefan Denkhaus.<\/p>\n
NRDC is the invest\u00adment company of Cana\u00addian entre\u00adpre\u00adneur Richard Baker. Baker has made a name for itself in the global fashion indus\u00adtry through a series of shrewd acqui\u00adsi\u00adti\u00adons. He owns a majo\u00adrity stake in the depart\u00adment store company Hudson Bay Company (HBC). Among other things, HBC owns the Ameri\u00adcan luxury depart\u00adment store chain Saks Fifth Avenue. The consor\u00adtium that wants to take over Gale\u00adria also includes former Kauf\u00adhof Super\u00advi\u00adsory Board Chair\u00adman Bernd Beetz.<\/p>\n
Gale\u00adria Karstadt Kauf\u00adhof is the largest depart\u00adment store chain in Germany and the second largest depart\u00adment store group in Europe and filed for insol\u00advency in Janu\u00adary 2024 for the third time in the last four years follo\u00adwing the bank\u00adruptcy of its parent company Signa. Gale\u00adria opera\u00adtes 92 depart\u00adment stores in Germany and employs more than 15,000 people, accor\u00adding to its own figures.<\/p>\n
The take\u00adover by NRDC and Bernd Beetz follows a compe\u00adti\u00adtive bidding process, which the insol\u00advency admi\u00adnis\u00adtra\u00adtor began shortly after the insol\u00advency appli\u00adca\u00adtion and ended shortly after the opening of insol\u00advency procee\u00addings with the award of the contract to NRDC and Bernd Beetz. The trans\u00adfer of Gale\u00adria Karstadt Kauf\u00adhof will take place by way of an insol\u00advency plan and the closing of the tran\u00adsac\u00adtion is plan\u00adned for the summer. \u2014 Baker was alre\u00adady the majo\u00adrity owner of Gale\u00adria Kauf\u00adhof from 2015 to 2019. The company was subse\u00adquently sold to the Austrian Ren\u00e9 Benko.<\/p>\n
The inter\u00adna\u00adtio\u00adnal WEIL team<\/strong> was led by part\u00adners Robert Rizzo<\/strong> (Corpo\u00adrate, NY), Britta Grauke<\/strong> (Restruc\u00adtu\u00adring, Frank\u00adfurt) and Dr. Chris\u00adtian Tapp\u00adei\u00adner<\/strong> (Corpo\u00adrate, Frank\u00adfurt) and compri\u00adsed Part\u00adner Tobias Geer\u00adling (Tax, Munich), Coun\u00adsel Dr. Matthias Eiden (Restruc\u00adtu\u00adring, Frank\u00adfurt), Coun\u00adsel Thomas Zimmer\u00admann (Finance, Munich), Coun\u00adsel Dr. Konstan\u00adtin Hoppe (Real Estate \/ IP\/IT, Munich), as well as asso\u00adcia\u00adtes Melina Husic (Restruc\u00adtu\u00adring, Frank\u00adfurt), Hans-Chris\u00adtian Mick (Finance, Frank\u00adfurt), Silvia Lengauer (Finance, Munich), Nata\u00adscha Spaeth, Sebas\u00adtian Klein, Jannik Dutt\u00adlin\u00adger, Alex\u00adan\u00adder Roth\u00adstein (all Corpo\u00adrate, Frank\u00adfurt), Caro\u00adlin Vetter\u00admann (Tax Law, Munich), Alex\u00adan\u00adder Reich, Daniel Reich (both Tax Law, Frank\u00adfurt), Laura Kirch\u00adber\u00adger (Real Estate, Munich), Benja\u00admin K\u00f6pple (Employ\u00adment Law, Munich), Clarissa Tran (Liti\u00adga\u00adtion, Frank\u00adfurt), David Fier (IP\/IT, Munich).<\/p>\n About Weil<\/strong><\/p>\n Weil, Gotshal & Manges is an inter\u00adna\u00adtio\u00adnal law firm with more than 1,100 lawy\u00aders. Weil has offices in New York, Boston, Brussels, Dallas, Frank\u00adfurt, Hong Kong, Hous\u00adton, London, Miami, Munich, Paris, Shang\u00adhai, Washing\u00adton, D.C. and Sili\u00adcon Valley. In Germany, the firm has two offices and around 60 lawyers\/tax advi\u00adsors in Frank\u00adfurt and Munich. The focus here is on provi\u00adding specia\u00adli\u00adzed advice to natio\u00adnal and inter\u00adna\u00adtio\u00adnal clients on cross-border private equity and M&A tran\u00adsac\u00adtions, high-profile liti\u00adga\u00adtion manda\u00adtes, complex restruc\u00adtu\u00adrings and finan\u00adcings as well as tax structuring.<\/p>\n","protected":false},"excerpt":{"rendered":" Frank\u00adfurt \u2014 The inter\u00adna\u00adtio\u00adnal law firm Weil, Gotshal & Manges LLP advi\u00adses NRDC Equity Manage\u00adment Company on the acqui\u00adsi\u00adtion of Gale\u00adria Karstadt Kauf\u00adhof out of insol\u00advency. Toge\u00adther with entre\u00adpre\u00adneu\u00adrial part\u00adner Bernd Beetz, NRDC has won the bidding process for the insol\u00advent depart\u00adment store chain Gale\u00adria Karstadt Kauf\u00adhof and concluded the inves\u00adtor agree\u00adment with the insolvency [\u2026]<\/p>\n","protected":false},"author":2,"featured_media":51243,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"wp_typography_post_enhancements_disabled":false,"footnotes":""},"categories":[886,1364,1365,1366,1367,1368,1369,1372],"tags":[],"class_list":["post-51245","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general-en","category-featured-en","category-private-equity-en","category-news-en","category-lawyers-tax-advisors-auditors-en","category-lawyers-tax-consultants-auditors","category-investors","category-consultant"],"yoast_head":"\n