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BSWW Legal & Tax
December 22, 2017

Advice on investment agreement of Rank Progress with Vantage Development

Rank Progress relies on act legal Poland


The lawyers from act legal Poland, BSWW, were advising Rank Progress S.A. on the joint venture agreement and the subsequent investment contract between Vantage Development S.A. and Rank Progress S.A., covering the implementation of a development project on a 14-hectare land plot in Wrocław, as part of which the parties are planning to build a total of approx. 2,400 apartments and commercial units (in two phases), as well as roughly 14,500 m² of office space.

The scope of consulting services involved preparation and negotiations of the content of the JV and investment agreements, as well as other documents signed in relation to the transaction.

The law firm also offered Rank Progress S.A. comprehensive advice within the area of competition law, including an analysis of whether it is required to obtain a consent of the Head of the Office of Competition and Consumer Protection.

 “Following two large transactions carried out by our law firm for Rank Progress S.A., i.e. the sale of Galeria Aviator to an entity from Leclerc capital group for over PLN 67m net, and the sale of Galeria Świdnicka to a company belonging to Catalyst Capital fund (transaction value: over EUR 26 million), this is yet another big and complex deal which Rank Progress asked us to handle,” says Michał Wielhorski, attorney-at-law and managing partner who was heading the team. Other members of the project team were Marcin Kroll (attorney-at-law and partner) and Mateusz Prokopiuk (trainee attorney-at-law).

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