Gleiss Lutz has advised Mutschler Outlet Holding AG on its establishment of a joint venture with IKEA for the construction and operation of a designer outlet store as part of a large-scale shopping centre in Loulé, Portugal. The project is worth approx. 200 million euros and is one of the largest foreign investments in Portugal in recent years. The transaction was closed on 5 November 2015.
Loulé is on the southern Algarve coast, the top tourist destination in Portugal. With over 85.000 m², the Algarve Shopping Commercial Complex will feature an IKEA Store, a two-storey shopping centre, a large recreational area and an outlet village - the Designer Outlet Algarve. IKEA plans to open its doors as early as in 2016. All other facilities are scheduled to open in summer 2017.
Gleiss Lutz advised both Mutschler and ROS Retail Outlet Shopping GmbH, which will be operating the Designer Outlet Algarve, on contractual issues.
Mutschler and ROS Retail Outlet Shopping GmbH were advised by the following team of Gleiss Lutz lawyers: Dr. Johannes Niewerth (partner, real estate, lead), Dr. Martin Viciano Gofferje (counsel, corporate/M&A), Dr. Fabian Kutz (real estate) and Bernhard C. Barth (corporate/M&A, all Berlin).
Gleiss Lutz advised on the transaction with Cuatrecasas, Gonçalves Pereira (João Mattamouros Resende and Nuno Sá Carvalho, both partners, Lisbon).
Gleiss Lutz regularly advises the Mutschler Group, mainly on M&A deals but also on real estate, public law and IP issues.
Forward
