Watson Farley & Williams (“WFW”) has advised Real I.S. AG (“Real I.S.”) on all the legal and tax aspects of its acquisition of a retail park in Munich’s Parsdorf suburb, via its Grundvermögen fund, from Activ Center Parsdorf GmbH & Co. KG. The parties have agreed not to disclose the purchase price.
Genova Property Group AB (publ) has decided to issue corporate bonds amounting to SEK 300 million. The bonds are issued within a framework amount of SEK 750 million and the bond proceeds will be used for general corporate purposes, including acquisitions and investments in the existing property portfolio. The company has undertaken to list the bonds on Nasdaq Stockholm.
On 28 December 2016 Steen & Ström entered into a sale and purchase agreement with Kungsleden regarding the sale of Emporia Office (located within Emporia in Hyllie). The transaction was conditional upon, inter alia, the property Malmö Marknadsplatsen 1 completed a three-dimensional real property formation process, whereby Emporia Office would be separated from the shopping centre Emporia.
The cadastral procedure gained legal force on March 1st 2017 and Kungsleden completed the acquisition of the shares in the property owning company on March 31st 2017.
Slaughter and May advised Countrywide plc (Countrywide) on a cashbox placing of up to approximately 9.99% of its existing issued ordinary share capital (the Placing) which raised gross proceeds of approximately £37.8 million. The Placing, which was announced on 9 March 2017, was conducted by an accelerated book-building process. Barclays Bank plc and Jefferies International Limited acted as joint bookrunners in connection with the Placing.
Global law firm White & Case LLP has advised VINCI, a global concessions and construction company, on its US$450 million offering of non-dilutive convertible bonds due 2022, redeemable in cash only.
The bonds will bear interest at an annual nominal rate of 0.375 percent payable semi-annually. They were admitted to trading on the Open Market (Marché Libre) of Euronext Paris and on the Open Market of the Frankfurt stock exchange (Freiverkehr). The net proceeds of the issuance will be used for VINCI's general corporate purposes.
PARIS/LONDON (March 24, 2017) – McDermott Will & Emery represented French-based Holding Socotec SAS and its shareholders, Cobepa and Five Arrows, in Socotec’s in its move into the UK market and its acquisition of Environmental Scientifics Group from 3i Group plc and funds managed by 3i. The move is part of Socotec’s international expansion.
Paul, Weiss advised Zhonghong Zhuoye Group in the structuring and review of various licensing agreements in connection with Zhonghong’s acquisition of a 21 percent stake in SeaWorld Entertainment from Blackstone Group. As part of the transaction, SeaWorld will provide advice and support to Zhonghong Holdings, an affiliate of Zhonghong Zhuoye Group, to exclusively develop and operate theme parks, water parks and family entertainment centers in China, Taiwan, Hong Kong and Macau. Zhonghong is a China-based diversified real estate, leisure and tourism holding company.
Shoosmiths has advised Kingdom Housing Association Limited on the purchase of a development site from Fife Council that will be used to supply much needed affordable homes to the area.
The site on Fraser Avenue in Inverkeithing will see an estimated 189 affordable homes built in a four phased project due to complete by 2022. The first phase of 53 houses is to commence later this month at a total cost of £8m, £4.3m of which part funded by the Scottish government.
Shoosmiths has advised global property investment company London & Regional Properties on its acquisition of the Holiday Inn Express business and property in Portsmouth.
Previously a Hilton Hotel, the property has undergone an extensive refurbishment in the last 12 months. Having acquired a large portfolio from Atlas Hotels last year which included 46 Holiday Inn Express hotels, London & Regional Properties continues to grow its budget accommodation brand with this latest acquisition.
ROME (20 March, 2017) –McDermott Will & Emery represented Pessina Costruzioni, one of the major Italian construction companies, in connection with the concession agreement for a new Velodrome in the municipality of Spresiano (Treviso).