ICL Group's sale of land in Ludwigshafen's Industriepark Süd to TRIWO AG

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Posted: 4th February 2020 by
Jaya Harrar
Last updated 14th September 2021
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BK Giulini GmbH and ICL Fertilizers Deutschland GmbH - both part of the globally active Israel Chemicals Limited (ICL) group based in Tel Aviv - have sold all of their properties located in the Industriepark Süd in Ludwigshafen to Trian-based TRIWO Group.  The parties have agreed not to disclose the amount of the purchase price.

We speak to Gerrit Strotmann at König Rechtsanwälte about this transaction.

TRIWO AG was founded in 1972 in Trier and covers almost the entire real estate value chain. This includes asset management, construction and project management, commercial real estate management and technical real estate management.  König Rechtsanwälte have been advising TRIWO since 2004 in the corporate area, in particular in relation to corporate and real estate law, among others, such as the acquisition of the Sonderflughafen Oberpfaffenhofen in a joint venture construction with the joint venture partner BEOS, as well as the acquisition of a majority interest in the Hessische Flugplatz Egelsbach GmbH.

König Rechtsanwälte advised the TRIWO buyer companies from the beginning of the transaction on the negotiation of the framework agreement, the real estate purchase agreement, the (new) leasehold and usage agreements to be concluded, as well as the transfer of existing leasehold agreements with companies domiciled at the location.

The sale of the properties by the ICL Group in Industriepark Süd in Ludwigshafen with a total area of approx. 100,000 m², took place against the background that BK Giulini spun off the infrastructure services at the Ludwigshafen site to its own service company in July 2017, which provides these services for the companies located at the site. The property at the Ludwigshafen site fits as a classic industrial location into the portfolio of TRIWO AG with its core competencies in the development and reactivation of industrial sites.

The transaction was characterised by its particular complexity which we worked through.

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