GIC’s $2.4 Billion Acquisition of P3 Logistic Parks

White & Case LLP has advised P3 Logistic Parks (P3) and leading global investment company TPG Real Estate on the sale of P3 to GIC, a sovereign wealth fund established by the government of Singapore.

With a transaction value of €2.4 billion (nearly 65 billion Czech crowns), this represents the largest deal on the European real estate market this year, and the largest real estate deal ever in the Czech Republic.

Over the course of the past three years, P3 Group, through a number of acquisitions in key markets across Europe, has grown into one of the largest fully-integrated logistics and developer platforms in Europe, with a portfolio of 3.3 million square meters of storage and industrial premises across 163 modern warehouses in nine countries.

The White & Case team previously advised P3 when it acquired a significant €523 million VGP portfolio in 2013, and on the recent €1.4 billion long term financing agreement with a group of international financing institutions.

The White & Case team that advised on the transaction was led by partner Petr Pánek (Picture) and included partner Jonathan Weinberg and local partner Václav Kubr with support from associates Karel Petrela Luboš Koucký (all Prague) and Vladimír Ivanco (Bratislava).

Ogier has represented GIC with Sara Johns and Michael Robinson.

Involved fees earner: Sara Johns – Ogier LLP; Michael Robinson – Ogier LLP; Petr Pánek – White & Case; Václav Kubr – White & Case; Karel Petrzela – White & Case; Vladimir Ivanco – White & Case; Jonathan Weinberg – White & Case;

Law Firms: Ogier LLP; White & Case;

Clients: GIC Pte. Ltd.; PointPark Properties; TPG Real Estate;