Vienna, 16 January 2015. Business law firm Fellner Wratzfeld & Partners (fwp) advises UniCredit Bank Austria AG on the multi-stage structured sale of the real estate portfolio it holds via Immobilien Holding GmbH.

In this sale process, fwp assists UniCredit Bank Austria among other things in selling its shares in the Simmering shopping centre and the BAI Bauträger Austria Immobilien GmbH project development company as well as its service providing companies. In the run-up to these transactions, it was necessary to proceed to intra-group restructuring to be able to concentrate project development business with BAI and sell it in one package.

The advisory services provided by fwp comprise the structuring, preparation and implementation of the sale. Immobilien Holding GmbH holds interests in about 80 real estate companies throughout Austria, in property management and estate agent companies (such as Dr. W.W.Donath Immobilenverwaltung GmbH, bareal Immobilientreuhand GmbH) as well as in hotels and shopping centres.

The open bidding procedure, which is addressed to investors in Austria and abroad, is expected to be completed by autumn 2015.

Following completion of the (main) sale process, fwp will provide advice on the reorganisation of Immobilien Holding group under company law aspects.

The fwp advisory team was led by partners Markus Fellner, Lukas Flener, Florian Kranebitter and included contributions from attorneys-at-law Georg Huber and Felix Oberdorfer.