Simon acquires The Mall Luxury Outlets
Deal News | Feb 07, 2025 | Legal Community Italy
Simon Property Group, a prominent company in the realm of managing shopping, dining, and entertainment properties, has acquired the entirety of The Mall Luxury Outlets from the French luxury group Kering. This deal includes ownership and management of two upscale outlet locations, The Mall, situated in Leccio near Florence and Sanremo. The transaction, reportedly facilitated by the expertise of respective high-profile law firms Chiomenti and BonelliErede, showcases a significant strategic move in the luxury retail sector. Chiomenti provided legal assistance to Simon Property Group with a robust multidisciplinary team led by partner Carlo Croff, focusing on corporate M&A, real estate, and fiscal domains. Meanwhile, Kering received advisory services from BonelliErede, with their team handling various aspects such as corporate, urban law, environmental regulation, and taxation. This acquisition could bolster Simon's portfolio within the high-end retail shopping industry, highlighting the shifting dynamics in luxury retail and property management.
Sectors
- Retail Real Estate
- Luxury Goods
- Legal Advisory
Geography
- Italy – The transaction involves The Mall locations in Leccio and Sanremo, Italy, marking it a geographic area of significance for this deal.
Industry
- Retail Real Estate – The acquisition of luxury outlet malls indicates a focus on retail real estate and high-end shopping properties, a key sector for Simon Property Group.
- Luxury Goods – Kering’s involvement as a selling party and the nature of The Mall Outlets suggests a strong connection to the luxury goods market.
- Legal Advisory – Chiomenti and BonelliErede's significant roles in this transaction highlight the services provided by legal experts in M&A and real estate deals.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Simon Property Group | Buyer | Company | An American company active in managing shopping, dining, and entertainment properties. |
| Kering | Seller | Company | A French-based multinational corporation known for luxury goods, previously owning The Mall Luxury Outlets. |
| Chiomenti | Legal Advisor to Buyer | Company | A prestigious Italian law firm advising Simon Property Group in legal, corporate M&A, and real estate matters. |
| BonelliErede | Legal Advisor to Seller | Company | A leading Italian law firm assisting Kering in corporate, taxation, and regulatory aspects of the transaction. |