Luther advises Norwegian family-owned business Wenaasgruppen on the acquisition of the Radisson Blu Hotel in Hamburg
The Norwegian family-owned business Wenaasgruppen purchased the Radisson Blu Hamburg Dammtor Hotel in mid-March 2017. Radisson Blu, with a height of 108 m, is the second highest inhabited building in Hamburg and is only surpassed by the Elbphilharmonie (the new Elbe Philharmonic Hall). The purchase of the impressive building shows the confidence of Wenaasgruppen in Hamburg's growing international touristic appeal triggered by the Elbphilharmonie and the Congress Center Hamburg (CCH). This textile and real estate company already owns several hotels in Germany. As in the past, the group asked Luther Rechtsanwaltsgesellschaft to assist with this transaction.
The seller is Azure Hotels, which is based in Luxembourg. With the help of Luther, Wenaasgruppen was able to prevail over several other bidders by making quick decisions and implementing them quickly as well. Luther was able to offer all necessary legal and tax consulting services – the latter in collaboration with ATOZ Luxembourg.
The family-owned business sells sport and leisure equipment and operates several four and five star hotels. It owns 24 hotels in Norway, Denmark, Russia, Poland, Gran Canaria, and Germany. The German hotels are the Scandic Berlin Kurfürstendamm, the Scandic Berlin Potsdamer Platz, the Radisson Blu Scandinavia Hotel, Düsseldorf, and the Radisson Blu Hotel Frankfurt. The Radisson Blu Hotel in Hamburg, which was recently acquired, has 32 floors, of which 27 are inhabited, and 556 rooms.
Wenaasgruppen has approximately 1,900 employees and globally generated sales to the amount of EUR 242 million in 2015. Its managing director is Lars Wenaas, who developed the business together with his father Sigmund and his brother Nils.
Luther, Mergers & Acquisitions, Corporate Law: Dr. Arnd Becker (Partner, Lead), Daniel Jürgensen, LL.M. (both Essen), Philipp Dietz, LL.M. (Partner), Dr. Johannes C. Becker (beide Köln), Marie Sinniger, Julie Prunier (both Luxembourg)
Luther Insurance Law: Dr. Alexander Mönnig, LL.M. (Counsel, Hamburg),
Luther, Antitrust Law: Franz-Rudolf Groß, LL.M. (Counsel, Dusseldorf)
Tax Consulting Luxembourg on behalf of Wenaasgruppen
ATOZ Luxembourg: Andreas Medler, Andrea Talotta, Victor Le Pape, Thibaut Boulange, Oliver Hoor