PRESS RELEASE

Munich, 2 February 2021

honert advised Willy Bogner GmbH & Co. KGaA on the sale of the real estate of its company headquarters in St.-Veit-Straße 4 in Munich. The company headquarters were sold for EUR 55 million to the listed real estate developer UBM Development AG. Following a structured bidding process, the parties signed the purchase agreement on 29 January 2021. The transaction is still subject to the two-month pre-emption right of the City of Munich existing for such property transactions. Bogner was advised on real estate law by Wagensonner Rechtsanwälte under the leadership of Dr. Andreas Helm. In addition, Bogner was advised by Oliver Brückner, SGP Schneider Geiwitz.

Bogner will continue to use the current company headquarters as a tenant for at least two more years. During this period, the company will look for a new location for its corporate headquarters in Munich. As a traditional Munich based company, Bogner intends to continue to hold on to Munich as its headquarters in the future.
The sale of the approximately 12,000-square-meter property, including existing buildings, is part of the performance program presented in July 2020, which is intended to reduce Bogner’s complexity and better position the company structurally in the long term. In addition, the sale of the property is part of a financing agreement that Bogner has concluded with various banks to secure the company’s financial stability in the coming years.

“We are pleased to have reached another important milestone in the implementation of our performance program. The sale of the property is part of our financing concept to secure our financial stability in the coming years and at the same time to make investments in important future topics,” says Gerrit Schneider, Co-CEO of Bogner. For the employees, nothing will change as a result of the sale until a relocation in two years at the earliest. She added that the Munich location would not change in the future, because Bogner was part of Munich.

Tax advice Bogner:

honert (Munich): Dr. Jochen Neumayer, Prof. Dr. Thomas Grädler

Bogner Inhouse: Gerrit Schneider (Co-CEO), Juliane Drerup-Hero (General Counsel), Frank Wiesner (Director Finance)