Leading global law firm Baker McKenzie has advised Edmond de Rothschild on its agreement to acquire a controlling stake in Cording Real Estate Group, creating a comprehensive European investment management business.
The acquisition, which will be made via Edmond de Rothschild's affiliate OROX Europe, was announced 18 October and is due to close in Q4 2017. It will combine €8 in billion assets and 125 employees, with 11 offices in the UK, Germany, the Netherlands, France, and Switzerland.
The deal was led by Baker McKenzie London Partner and Head of Funds, James Burdett, together with Associate, Lucie Rose.
Commenting on the deal, Burdett said: "We were delighted to have advised Edmond de Rothschild and Orox on this acquisition. This is an important strategic partnership for our client, which will help provide strength and scalability to their European real estate platform."
Under the terms of the agreement, Cording's existing management team will remain as minority shareholders. The acquisition is subject to regulatory approvals.