Shearman And Sterling

News September 26, 2022

Sale and Leaseback of KME SE’s Copper Production Plant

Shearman & Sterling advised the KME Group (KME) on a Sale and Leaseback transaction entered into with Crescendo Real Estate Advisors (Crescendo). Crescendo acquired all of the industrial production facilities of KME in Osnabrück, Germany on a plot of land of more than 570,000 sqm, for a base purchase price of EUR 90,000,000.00 and simultaneously KME leased these properties back under a triple net lease agreement. The annual passing rent agreed between the parties is €7,08 million plus VAT.

KME is a part of one of the world's largest manufacturers of copper and copper alloy products, focused on rolled products, with a European footprint and worldwide distribution network.  The transaction further contributes to the KME Group target of progressive deleveraging, providing also proceeds to support a further growth of the KME core business. Shearman & Sterling already successfully represented KME in connection with this target in several further transactions before.

Crescendo was formed by Cabot Lodge and Daniel Quai in 2013 as an independent principal investment and advisory firm. Crescendo has $485,000,000 in commitments and invested capital on behalf of institutional investors, asset managers and single-multi-family offices. 

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