Baker McKenzie advised the Spanish Parques Reunidos Group, one of the world's leading operators of regional theme and leisure parks, on the acquisition of the Brandenburg leisure resort Tropical Islands for € 226 million. The purchase agreement between the new and former owners was signed on December 11, 2018. The antitrust authorities approved the transaction on January 9, 2019, so that the acquisition of the Tropical Islands Group was closed a few days ago.
The Tropical Islands Resort is the world's largest indoor water park and is located 60 kilometers south of Berlin. It was built in a former airship hangar and opened in 2004.
Baker McKenzie provided Parques Reunidos with comprehensive legal advice on all aspects of the transaction. The acquisition of Tropical Islands is the largest single-park acquisition in Parques Reunidos' history.
"This is a landmark transaction in the region. Everyone knows the Tropical Islands theme park and we were the legal support for Parques Reunidos in this important acquisition. The acquisition of Tropical Islands will enable our client to achieve their strategic growth targets by expanding the resort," comments Baker McKenzie corporate/M&A lawyer Holger Engelkamp.
Tropical Islands (www.tropical-islands.de) is the leading leisure resort in east Germany. Around 1.3 million guests visit the tropical holiday adventure every year. The leisure resort is known for its unique tropical landscapes in the seven hectare large "Dome", its overnight accommodations (mobile homes, camping sites and tepees) as well as the 35,000 sqm outdoor water park AMAZONIA, which opened in 2016.
Parques Reunidos (www.parquesreunidos.com) is a leading global operator of theme and leisure parks. The Spanish group operates 64 parks worldwide, 30 of them in Europe. The "Big Player" welcomes 19.6 million visitors to its leisure facilities every year.
Baker McKenzie's Corporate/M&A team regularly advises on domestic and international transactions and restructurings. Most recently, Baker McKenzie advised Mayersche Buchhandlung on merger with Thalia, Sika on its offer to acquire Parex, Rexnord on the sale of VAG Group to Aurelius, MainFirst Holding on the sale of its equity brokerage business, HGZN on the acquisition of NIMAK Group, DBAG Fund VII on its investment in Kraft & Bauer Holding, Thor Industries on the acquisition of Erwin Hymer Group, Körber AG on the sale of the United Grinding Group, financial investors First State Investments and Hermes Investment Management on the acquisition of the shipping company Scandlines, Mundipharma on the sale of its Limburg production and LKQ Corporation on the acquisition of the Stahlgruber Group.
Legal advisor to Parques Reunidos: Baker McKenzie
Lead: Corporate/M&A: Holger Engelkamp (senior associate, Berlin), Employment: Dr. Alexander Wolff (partner, Berlin)
Team: Corporate/M&A: Dr. Thomas Dörmer (partner, Berlin)
Employment: Dr. Matthias Köhler (senior associate, Berlin). Dr. Felix Diehl (associate, Frankfurt)
Public Law: Dr. Janet Butler (counsel, Berlin), Dr. Andreas Schulz (counsel, Berlin), Dr. Katharina Weiner (counsel, Düsseldorf), Dr. Maximilian Voll (associate, Berlin)
Tax: Sonja Klein (partner, Frankfurt)
Antitrust: Dr. Christian Burholt (partner, Berlin), Alexander Iken (associate, Berlin)