Cuatrecasas, Gide and Chiomenti, counsel to Adeo (Leroy Merlin) on the sale of a pan-European portfolio of property assets worth on a sale and lease-back operation EUR 500 million

Cuatrecasas, Gide and Chiomenti have advised Adeo on a sale and lease-back operation to Batipart and Covea of a pan-European portfolio of real estate assets, worth over EUR 500 million. The portfolio comprises 42 assets in four countries (France, Spain, Italy and Portugal), fully leased to brands Leroy Merlin, Bricoman and Bricomart. Together, the assets cover a total of over 400,000 sq.m., secured by long-term leases.

Adeo, a leading international player in the home improvement market, retains 20% of the newly created structure for the acquisition of the portfolio.

Cuatrecasas advised Adeo on aspects of Spanish and Portuguese law. For Spain, the team was made up of counsels Silvia Alcoverro and Hélène Baus, partner Julio Brasa, and associate Ana Serrano. For Portugal, the team comprised partner Sara Quaresma and associate Margarida Sapateiro.

Gide advised Adeo on this transaction, with a team headed by partners Frédéric Nouel and Christophe Eck, working with counsels Cléopha Thomann and Pierre-Adrien Vibert, and associates Ghizlen Sari Ali and Capucine Pelissie.

Chiomenti, partner firm of Gide and Cuatrecasas, advised Adeo on aspects of Italian law with partner Luca Listro, and associates Alessandro Buscemi and Simona Granieri.