Cases & Deals

Hansteen acquires Netherlands portfolio for €106 million (US$144.3 million)

Client(s) Hansteen Holdings PLC

Jones Day advised Hansteen Holdings PLC regarding the acquisition of a €176 million (US$239.8 million) credit facility secured over a portfolio of light industrial parks in the Netherlands owned by Lancelot Land BV. The loan was acquired at a discount to par in two separate trades with UniCredit and ING. Following a restructuring of the loan and the associated swaps with JP Morgan and UniCredit, the counterparties, Hansteen agreed to a consensual deal with Lancelot to acquire the assets for approximately €106 million (US$144.3 million) utilizing a new €60 million (US$81.7 million) loan facility arranged by ING.