June 2019

CHSH advises XXXLutz in connection with the purchase of Kika furniture stores in CEE

Cerha Hempel Spiegelfeld Hlawati advised XXXLutz-Group in connection with the purchase of Kika's Eastern European furniture stores in Hungary, Czech Republic, Slovakia and Romania.

The transaction comprises the acquisition of 22 KIKA stores in the aforementioned CEE countries from Signa Group. The acquisition is subject to merger control clearance. Following closing of the transaction XXXLutz will operate 304 furniture stores with a turnover of 4.65 billion Euro and a total staff of more than 23,000 in Austria, Germany, Switzerland, Sweden, Czech Republic, Slovakia, Hungary, Slovenia, Croatia, Romania, Bulgaria and Serbia.

CHSH supported XXXLutz with comprehensive legal expertise throughout the entire transaction, including a cross-border due diligence review, deal structuring and the negotiation of transaction-relevant agreements.

Managing Partner Clemens Hasenauer, who led the CHSH team comprising members from four jurisdictions: "I’m especially pleased by the excellent cooperation among our CEE offices in relation to this transaction which is particularly important for us as a Central European law firm".

Besides Clemens Hasenauer the CHSH deal team consisted of the partners Johannes Prinz, Harald Stingl and Lorenz Pracht as well as of the associates Alexander Reich-Rohrwig, Benedikt Svoboda, Ferdinand Guggenmos and Hanna Shin. It was supported by CHSH teams in Budapest (Andrea Presser, Andras Kauten), Prague (Lukas Srbecky, Pavlina Ruzickova, Marie Lauter), Bratislava (Karol Siska, Jozef Bannert, Veronika Siskova) and Bucharest (Mirela Nathanzon, Zizi Popa) with respect to local law matters.