PLMJ advises Promiris and CETIM groups

PLMJ advised the Promiris and Cetim groups on a forward funding transaction with the Xior Group. The transaction between these Belgian groups took place through the sale of the remaining 50% (after a first acquisition and the setting up of a partnership in 2019) of the capital of the company that owns a student residence project located in Porto.

PLMJ's team was led by Francisco Lino Dias, partner and co-head of the Real Estate and Tourism practice, and it was coordinated by Nuno Serrão Faria, a managing associate in the Corporate M&A practice. The team als included André Areias (Tax), Alexandre Hierro (Real Estate and Tourism) and Carolina Inverno Branco (Corporate M&A).

Throughout the development period, the firm and the project were managed under a 50-50 partnership between seller and buyer based on a shareholder agreement. PLMJ prepared the entire contractual package and advised the groups on the negotiation, signing and closing of the partnership (which is now ending), as well as on both M&A transactions with the investor.

This student residence project opened in September 2022, has 211 rooms and will be operated by French partner Odalys.