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Real Estate & Construction

WS Atkins - amendment and extension of £200 million revolving credit facility

13 Feb 2015

Slaughter and May advised WS Atkins plc, the UK's largest design, engineering and project management consultancy, in connection with the amendment and extension of its £200 million revolving credit facility entered into in October 2013 between WS Atkins plc, various other members of the WS Atkins Group and a syndicate of banks.

CONTACTS

Financing: Matthew Tobin (partner), Hiba Siddique (associate), Daniel Whitelock (trainee); Tax: William Watson (partner), George Mitchell (associate)

Pinsent Masons advises winning VINCI team on QE2 London Stadium close

12 Feb 2015

Pinsent Masons has advised the winning VINCI Stadium team on the major close of the concession to run and operate the Stadium and South Park at the former Olympic site at Stratford.

The concession has been awarded by E20, a joint venture between the London Legacy Corporation and the London Borough of Newham.  It marks a further landmark in the post 2012 legacy programme for East London.

Holcim Ltd and Lafarge SA to sell assets valued EUR 6.5 bn to CRH

12 Feb 2015

Holcim Ltd (SIX: HOLN) and Lafarge SA (Euronext: LG) have announced the sale of several assets to CRH for an enterprise value of EUR 6.5 billion [CHF 6.8 billion] as part of their proposed merger. The assets include operations mainly in Europe, Canada, Brazil and the Philippines, and, taken together, the assets generated estimated 2014 sales of EUR 5.2 billion, with an estimated 2014 operating EBITDA of EUR 744 million. The divestment process will be submitted to the relevant Competition authorities and to the shareholders of CRH.

DWF advises NewRiver Retail Limited on acquisition of the Sands Portfolio

11 Feb 2015

DWF advised NewRiver Retail Limited on its acquisition of the Sands Portfolio for £19 million, providing them with a net initial yield of 9.75%.

The DWF team, led by real estate senior associate Luke Hopkins, advised NewRiver on the significant investment, which will help their client achieve their strategic plans to invest in convenience led community shopping centres and high street retail assets.

Shoosmiths advises GBR Phoenix Beard on acquisition of Optic Asset Management

10 Feb 2015

Shoosmiths has advised leading property consultants GBR Phoenix Beard on the acquisition of Optic Asset Management, a niche property management company based in London and Leeds.

Shoosmiths corporate partner Ben Turner led the deal with assistance from corporate solicitor Georgina Gurnhill, tax partner Kate Featherstone and employment solicitor Liz Parkin.

Irwin Mitchell Advises On Sheffield Business Park Deal

10 Feb 2015

Irwin Mitchell’s Real Estate Team have just acted for the joint venture set up by JF Finnegan and Sheffield Business Park and completed £1.375m of land sales within Sheffield Business Park to Tuffnells Parcels Express and JCT 600.

Andrew Wallis, Real Estate Partner in Irwin Mitchell’s Sheffield Office, said:

Andrew J Wallis It is exciting times for the City, particularly around the Sheffield Business Park area and it is great for Irwin Mitchell to be able to support the businesses that really want to make things happen.”

Linklaters has advised on the sale of the Prefabet S.A. Group

10 Feb 2015

Lawyers from the Linklaters Warsaw office have advised the Ozarow Group, the company being a part of the CRH corporation, on the sale of a leading manufacturer of autoclaved aerated concrete - the Prefabet S.A. Group to H+H, Danish group from the construction sector.

On 5 February 2015, after obtaining the authorisation of the Office of Competition and Consumer Protection, the Ozarow S.A. Group signed the promised agreement for sale of 100% of shares in the Prefabet S.A. Group to H+H Polska sp. z o.o.

CHSH advises CA Immo on the sale of the Buda Business Center to a Hungarian real estate fund

10 Feb 2015

CHSH has advised CA Immo on the sale of the office complex "Buda Business Center" in Budapest, Hungary, to an open-ended fund managed by Diófa Fund Management under the terms of an asset deal.

The Buda Business Center, which occupies a good central location in the second district of Budapest, has approximately 6,400 m2 of office space.

Allens advises GPT Group on $325 million capital raising

10 Feb 2015

Allens has advised the GPT Group on its $325 million capital raising and the redemption of its Exchangeable Securities from GIC.

GPT raised the funds to redeem the exchangeable securities, which had been issued to GIC in 2008, via an equity raising, comprising a $325 million fully underwritten institutional placement and a non-underwritten purchase plan.

The Allens team on the matter was led by Partners Andrew Boxall, Kate Towey and Stuart McCulloch.