OREANDA-NEWS. Sberbank CIB announces the completion of an M&A transaction in which the RosEuroDevelopment Group acquired AURA, one of the largest shopping centers in Siberia, from the international development company Renaissance Development and the investment fund Amstar Global Property Fund.

The deal was prepared by the joint Sberbank CIB team and the Severo-Zapadny Bank of Sberbank of Russia, and included specialists from the Client Management Department, Loans Department, and Investment Banking Department of Sberbank CIB, as well as the corporate business departments of the Severo-Zapadny Bank of Sberbank of Russia.

The transaction size is being described as the largest regional commercial real estate transaction in Russia to date. In accordance with the agreements reached between Sberbank CIB and the RosEuroDevelopment Group for the acquisition of the AURA shopping center, a line of credit2 of up to EUR 135 mln for seven years was extended (M&A Acquisition Financing). Financing was arranged by the Severo-Zapadny Bank of Sberbank of Russia.

Providing support to RosEuroDevelopment for the deal were Sberbank CIB as M&A advisor, the legal firm Akin Gump and the audit and consulting firm Deloitte. AECOM provided technical support. Quantum Potes S.A. served as real estate consultant on the deal.

From the sellers’ side, the international legal firm Clifford Chance provided support.

AURA is the largest modern shopping center in Siberia. It was developed by the companies C Concept Design and 5+Design and was built on a 5-hectare plot and in accordance with modern European standards. The company Renaissance Development managed the construction of the shopping center. It was the company’s first project in Novosibirsk.

The total floor space of the shopping center is 150,000 sq. meters, of which 62,000 constitutes retail floor space which house shops, restaurants, and service businesses. The shopping center is intended for visitors of various age groups and income levels.