ML advises Tengelmann on sale of largest supermarket portfolio in Portugal

Morais Leitão has advised Trei Real Estate (part of the German Tengelmann Group) on the sale to the US private equity fund LCN Capital Partners of a Portuguese property company holding a portfolio of approximately 50 supermarkets across Portugal. This portfolio, with a total GLA of circa 70 thousand square meters, includes Pingo Doce and Continente stores and represents the largest sale ever made in Portugal of a portfolio of supermarkets.

Morais Leitão advised the client on the competitive bidding process of the sale, on the vendor’s legal due diligence to the company and to the various real estate assets as well as on the negotiation and execution of all contractual documentation.

The multidisciplinary team involved in this transaction was led by João Torroaes Valente (pictured), head partner of the Corporate Real Estate & Tourism department, including also lawyers Andreia Bento Simões and Inês Ventura Salazar, from the same department, Rui Ribeiro Lima from the Urban Planning & Environment department, and Pedro Pardal Goulão and Inês Cabral Ferreira from the labour department.

Michael Heron