International law firm Pinsent Masons has advised Turkish construction company, Tepe on its landmark US$100 million state immunity case on appeal from the Royal Court of Jersey.

This case relates to the termination by Botas, a crude oil transportation company and Turkish state owned entity, of two contracts with Tepe to assist in the construction of the Baku-Tbilisi-Ceyhan transportation pipeline. Following referral to arbitration in Paris, Botas' terminations were found to be unlawful leading to several ICC arbitral awards in favour of Tepe.

The real estate fund Rockspring and property developer Vencom has divested Värmdö Köpcentrum. Värmdö Köpcentrum, which houses about fifty stores, was acquired by the pension company Alecta. The property value at the transfer amounted to SEK 421 million.

Vencom will continue to be responsible for the development and management of Värmdö Köpcentrum.

Rockspring and Vencom was advised by Mannheimer Swartling in the transaction. The firm's team consisted primarily of Klas Wennström and Olle Källström.

Global law firm Norton Rose Fulbright has advised real estate company Litos Immobilien AG on the purchase of three office properties in Oberhaching industrial park, with an area of approximately 14,400 sqm.

Munich-based asset manager Kriton Immobilien GmbH facilitated the sale of the office properties from a private owner. Litos plans to modernize and keep the properties which are currently fully let.

Nabarro has acted for developers Argent and The Greater Manchester Property Venture Fund on the £164m sale of One St Peter’s Square, one of Manchester’s most prestigious office and retail spaces and home to KPMG, DLA Piper and Addleshaw Goddard.

The 288,000 sq. ft. development was completed in September 2014 and has been bought by Deka Immobilien, the German, global real estate investors.

In August 2016, China Calxon Group Co., Ltd. (Calxon), represented by King & Wood Mallesons, was awarded a favorable final judgment on its equity transfer dispute with Asia Pearl Limited (Asia Pearl) involving RMB 810 million. The case was tried at the Hainan Provincial Higher People's Court first and finally by the Supreme People's Court. The final judgment, which has taken effect, is consistent with Calxon’s commercial intents.

Herbert Smith Freehills has advised Propertylink on its successful initial public offering (IPO) of stapled securities to institutional and retail investors.

The IPO raised a total of A$503.5 million at a price of A$0.89 per stapled security. Propertylink securities commenced trading on the Australian Securities Exchange, on a conditional and deferred settlement basis, on 5 August 2016 under the ticker code ‘PLG’ and are expected to commence trading on a normal settlement basis this week.

Arch Northumberland has completed its largest acquisition to date with the £78m purchase of Manor Walks Shopping Centre in Cramlington.

The 350,000 sq ft shopping centre, which is anchored by Sainsbury’s, Asda, Wilkinson and Vue Cinema, was bought from Hammerson. The price is understood to reflect a net yield of 7.1%.

Arch intends to immediately improve and extend the centre to provide bigger, better retail and leisure facilities and additional car parking.

Cadwalader successfully acted as international counsel in relation to Dilip Buildcon Limited’s US$100 million initial public offering of shares listed on the National Stock Exchange and Bombay Stock Exchange of India. Book running lead managers were Axis Capital Limited, IIFL Holdings Limited, JM Financial Institutional Securities Limited and PNB Investment Services Limited. The listing and commencement of trading occurred on 11 August 2016.

The flagship project "InnovationCity" is driving climate-friendly structural change in the Ruhr region. Innovation City Management GmbH, wmr, WiN Emscher Lippe, and Wuppertal Institute for Climate, Environment and Energy are developing energy modernization concepts for 20 selected communities in the Ruhr region. The idea is modeled after the Model City | Bottrop pilot project, where the energy modernization rate has increased to 3% per year, far above the national average of 0.8%.
 

A team led by real estate law specialists Dr. Peter Vocke and Christoph Nöhles, LL.M. of business law firm Heuking Kühn Lüer Wojtek comprehensively advised Munich-headquartered Domicil group on the purchase of a residential ensemble with 118 apartments in Berlin Tempelhof-Schöneberg from a Berlin-based family office. Domicil group is continuing its expansion strategy with this transaction.