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Herzog Fox & Neeman Advised Adler Real Estate AG in Completing Its Acquisition of a Controlling Stake in Brack Capital Properties N.V.

2 April 2018

Adler Real Estate AG, a publicly-traded German real-estate company, completed an acquisition of a controlling stake in Brack Capital Properties N.V., a Dutch company whose shares and bonds are traded on the Tel Aviv Stock Exchange. The transaction included the purchase of a controlling block from the controlling shareholder – Redzone Empire Holding Limited, a company controlled by Mr. Teddy Sagi, and a special tender offer for the purchase of additional shares in Brack. The total consideration in the transaction is approximately NIS 2 .5 billion.

The transaction involved numerous legal complexities and included certain conditions precedent, including an anti-trust approval by the German regulator. The transaction was led by corporate partners Alan Sacks, Nir Dash and Asaf Nahum and associate Keren Nightingale.

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