Clifford Chance advised the German-based Dietz Group on entering into a joint venture with KWASA Europe S.à r.l., the European investment company of the Malaysian government's EPF fund.

The joint venture company, KWASA Dietz Germany GmbH, plans to invest equity up to EUR 500 million in logistics and industrial properties in Germany and neighbouring countries over the next three years.

Dietz will contribute part of its logistics portfolio of just under EUR 200 million to the joint venture and will be responsible for property management, further acquisitions and developing investments.

Dietz AG provides a full-service concept for construction and real estate. Its core business focuses on property portfolios, property development, real estate funds, asset and property management and planning, project management and construction. The group is made up of 52 companies and manages property assets worth a total of around EUR 800 million (as at 1 January 2015).

The Clifford Chance team was led by partner Thorsten Sauerhering (Tax) and included partner Dr. Jörg Rhiel and associate Dr. Margret Bootz-Hagen (both Corporate), partner Thomas Reischauer (Real Estate), senior associate Dr. Dominik Engl, associate Florian Schwemmlein and transaction lawyer Laura Lamster (all Tax) – all Frankfurt – as well as partner Marc Besen and senior associate Dr. Dimitri Slobodenjuk (both Antitrust, Düsseldorf).
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