Corporate & Commercial

CDH advised on merger to create largest listed real estate player in Central and Eastern Europe – NEPI Rockcastle Plc

CDH advised New Europe Property Investments Plc (NEPI), the then largest listed real estate fund focused on Eastern Europe, on its merger with Rockcastle Global Real Estate Limited, a real estate fund that owned, developed and managed retail assets in Eastern Europe and invested in global real estate listed securities.

The entities merged into a new entity, NEPI Rockcastle Plc, and listed on the JSE. Our team led the work on this listing too.

The R90 billion transaction was technically complex, as it involved three different entities and five different regulatory regimes, namely Romania (EU), Netherlands (EU), Isle of Man, Mauritius and South Africa. The fact that there were significant South African investors invested in both NEPI and Rockcastle also resulted in a number of complex regulatory and tax technical considerations. This mandate was shortlisted for Dealmakers Deal of the Year 2017.