Transaction: Tesco and Salling Group
Wardyński & Partners in cooperation with the Danish law firm Gorrissen Federspiel has counselled the Salling Group on the acquisition of shares in Tesco (Poland).
The transaction is subject to notification of the European Commission. During the transition phase, i.e. until transaction closing, restructuring will take place, among others, in the form of excluding certain Tesco outlets in Poland from the transaction.
The Salling Group is a Danish retail group that owns the Netto network of stores of which there are 386 in Poland. Within the framework of the transaction and after its closing the Salling Group will take over 301 stores presently operating under the Tesco name as well as two distribution centres. The stores must change their name from Tesco to Netto within 18 months of transaction closing.
Netto opened its first store in Poland in Szczecin in 1995 and currently has more than 5,000 employees. In total, the Salling Group has more than 53,000 employees in Germany, Denmark and Poland with more than 1,400 outlets, including discounts, supermarkets and hypermarkets.
General counsel on the part of Wardyński & Partners was coordinated by Izabela Zielińska-Barłożek together with Katarzyna Wójcik-Bąkowska, Maciej Szewczyk and Anna Dąbrowska, whereas Michał Gliński, Michał Wons, Bartosz Kuraś and Krzysztof Libiszewski were responsible for real estate matters.