Berwin Leighton Paisner (BLP), is advising Quintain Estates and Development PLC (Quintain) on the recommended cash offer announced earlier today by Bailey Acquisitions Limited, an investment vehicle indirectly controlled by Lone Star REF IV (Lone Star). Lone Star’s offer values Quintain at approximately £700m (representing a premium of 22.4 per cent to the closing price of Quintain’s shares on 28 July 2015, being the last business day before the date of Lone Star’s announcement).

The BLP team is being led by corporate finance partners Nick Myatt and Alex Latner supported by a wider corporate finance team including partners Dylan Mackenzie and Cath Shirley and associates Patrick Johnson and Patrick Lilly. Real estate advice is being led by client relationship partner Robert MacGregor, supported by associate director Ruth Miller and senior associate Emily Green. Incentives partner David Dennison is also providing specialist advice.

JP Morgan Cazenove and Lazard are providing financial advice to Quintain. Morgan Stanley and Allen & Overy are advising Lone Star.

Commenting on the transaction, BLP Chairman Robert MacGregor, said: “We have advised Quintain on a number of significant transactions in recent years (notably the disposal of Quintain’s interests at Greenwich Peninsula) which have seen Quintain transform its business. We are delighted to have worked with the Quintain team again on another transformative deal. The London corporate real estate market is exceptionally busy and BLP’s unique strength and depth in this space is widely recognised.”