MAGNUSSON ADVISES ON FINANCING THE FASHION HOUSE ACQUISITION
The Magnusson team contributed with efficient solutions, making it possible to successfully close this complex transaction. It is yet another large financing project handled by Magnusson.
Partner Michał Siwek led the Magnusson team advising the bank on the project. The following lawyers has been also in charge of this project: Wojciech Wądołowski, Joanna Misztal-Dzitko and Karolina Bandzul.
“We are delighted that our team had an opportunity to advise on financing of this project. The acquisition of a portfolio of three shopping centres is yet another confirmation that foreign investors are eyeing the Polish commercial real estate sector”, stated Michał Siwek.
Three outlet centres in Poland has been acquired: Fashion House in Sosnowiec, Fashion House Warsaw in Piaseczno and Fashion House in Gdańsk.
With 17,300 sqm of GLA, 120 store units, and a parking lot for 1,000 vehicles, Fashion House Warsaw in Piaseczno is the largest Fashion House outlet in Poland. With 16,800 sqm of GLA, Fashion House Sosnowiec offers access to more than 100 store units and a parking lot for 1,200 vehicles, while Fashion House Gdańsk provides 16,400 sqm of GLA, more than 100 store units and a parking lot for 800 vehicles.
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Magnusson will be represented in the Enterprise2019 Technology Entrepreneurship event held in Oulu on Wednesday, 6 November 2019.read more
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Amendments made to the AML Law
Amendments have been made to the Law on the Prevention of Money Laundering and Terrorism and Proliferation Financing, also known as the AML Law. The amendments are a part of Latvia’s attempts to comply with the legal acts of the European Union and to overcome the country’s weaknesses as stated in the Moneyval 2018 report. Taking into account the recent activities in terrorism and proliferation financing, an effective anti-money laundering system is essential in order to improve the finance sector and the country’s reputation on a global platform.read more