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Kochański & Partners advised Savills on the acquisition of Knight Frank’s property management division
From our client’s perspective, this was a challenging, complex and rather delicate transaction, which involved managing the business relationship between the parties, both leaders of the Polish property management market and direct competitors. This raised some challenges, primarily at the preliminary due diligence stage and involved the acquisition of a portfolio of commercial properties and the merging together of two separate teams.
It involved the carving out of the property management business from the structures of Knight Frank which continue to operate in Poland in its other spheres of activity. The parties proceeded via an asset deal and spin-off an organised part of the business instead of an initial spin-off into a separate company and a subsequent purchase of shares.
As the company had to first successfully pass the tender procedure organised by Knight Frank, we assisted Savills from the very beginning, i.e. from the moment of structuring the offer.
We advised and supported Savills at all stages of the transaction, including:
- antitrust,
- tax,
- negotiation of transaction documents,
- structuring the assimilation of the acquired business into the internal organization,
- post-closing actions to ensure the smooth and seamless incorporation of the former Knight Frank business into the Savills brand.