September 3, 2010 - Mayer Brown LLP advised a group of Mezzanine A Lenders in adjusting the financing agreements in connection with the agreement between the investor Berggruen and the landlord Highstreet regarding the adjustment of rental conditions for Karstadt. The Mezzanine A lenders are part of a junior loan granted to Highstreet which is also secured by second-ranking land charges by the department stores. The approval of every Mezzanine-Tranche holder was necessary for the effectiveness of the acquisition of Karstadt by Berggruen.
The Mayer Brown team was led by both partners Dr. Manfred Heemann and Dr. Simon Grieser (Banking and Finance, Frankfurt), and also consisted of the associates Matthias Gippert (Banking and Finance), Matthias Meckert, Florian Witzemann (both Real Estate) and Dr. Malte Richter (Insolvency Law, all Frankfurt).
For further information, contact: