DLA Piper has advised Tilad, a multi-family office based in the Gulf region, on the acquisition of an office complex in Berlin from Société Générale Immobel S.A. The acquisition took place as part of a share deal, which was financed by ING Real Estate Finance Germany.
Global legal practice Norton Rose Fulbright has advised Egdon Resources plc on the acquisition of the shale-gas business and assets of Alkane Energy plc. The consideration for the acquisition is the issue of 40,000,000 new ordinary shares in Egdon.
The Norton Rose Fulbright team also advised Egdon on its institutional placing of 32,000,000 new ordinary shares and an open offer to shareholders of up to 3,033,663 new ordinary shares to raise up to £7 million.
Slaughter and May advised Unilever PLC (Unilever), on the purchase, for £715 million, of the rights left in family trusts by William Hesketh Lever which are convertible in 2038 into 70,875,000 Unilever ordinary shares.
The amount paid for the shares represents a discount of 63% to the Unilever closing share price on 16 May 2014.
As a result of this transaction, which was announced on 19 May 2014, Unilever's core earnings per share will be enhanced by 2% on a full year basis.
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Eversheds has completed the disposal of the Press and Broadcast Centres on behalf of the London Legacy Development Corporation, to Here East – a joint venture backed by Delancey.
The disposal was achieved by way of a 200 year lease, following exchange of a conditional agreement for lease a year ago. The former Press and Broadcast Centres will be redeveloped into a new digital quarter for east London, called Here East.
DLA Piper's Restructuring team has acted for Edinburgh businesswoman, Ann Budge, on her takeover of Hearts of Midlothian plc. The deal which will save the club from administration, saw the team led by partners Graeme Henry and Richard Obank, advise Bidco, the special purpose vehicle set up for the acquisition.
Morisons (Scotland) acted for the administrators, Bryan Jackson and Trevor Birch of BDO. CMS acted for the Foundation of Hearts, the fan club which has been raising contributions from the supporters and is chaired by Ian Murray, MP.
Nabarro has successfully advised on the purchase of the well-known Holborn headquarters of Sainsbury’s. The firm provided advice on the real estate and finance aspects of the deal through new client Tishman Speyer. Tishman Speyer represented a consortium of members and Nabarro’s Funds & Indirect Real Estate partner Amanda Howard also acted for one of the consortium members.
Davis Polk is advising Pattern Energy Group Inc.’s (Pattern Energy) Conflicts Committee of independent directors in connection with Pattern Energy’s acquisition of the Panhandle 1 wind power project from its majority shareholder, Pattern Energy Group LP, for a consideration of $125 million in cash. Panhandle 1 is being built in Carson County, Texas, and consists of 118 General Electric 1.85 MW wind turbines. Panhandle 1 will, when completed, add 179 MW (or 14%) in owned capacity to Pattern Energy’s portfolio.
DLA Piper represented Columbia Property Trust Inc. in its purchase of an office tower in downtown San Francisco for US$228.8 million from Beacon Capital Partners LLC.
Columbia is one of the country’s largest office REITs and its acquisition of the 16-story, 387,943 square-foot building allows the company to achieve its objective of expanding in a high-performing, select primary market. Columbia holds US$5.1 billion in assets among 59 properties.
Shoosmiths has acted for McKay Securities PLC on two key property acquisitions in London and Surrey. A team of real estate, planning and construction lawyers from the firm's real estate group have advised on circa £25 million of acquisitions of The Mille, Brentford and Ashcombe House, Leatherhead.
Hogan Lovells has advised on a series of transactions in the student accommodation sector in the first quarter of 2014, completing three acquisitions for LaSalle Investment Management.
At the turn of the year, Hogan Lovells advised LaSalle on the acquisition of the 435 bedroom Victoria Hall complex in Wembley; followed by the acquisition from a joint venture between Bridges Ventures and Chancerygate of The Curve, a 350 bedroom development in Aldgate; and most recently the acquisition of Darley Bank, a 405 bedroom facility in Derby developed by Watkin Jones Group.