Following a competitive process, Carter Holt Harvey has signed an agreement with Associated Kiln Driers to sell all its shares in Carter Holt Harvey Timber Pty Ltd (CHH Timber). CHH Timber owns Carter Holt Harvey’s Tumut sawmill, Gilmore treatment facility and a distribution centre in Berkeley Vale. It also has a 50% interest in the Highland Pine Products joint venture in Oberon.
Macfarlanes has advised UK supermarket real estate investor, Supermarket Income REIT plc, on its latest acquisitions, the purchase of a Morrisons supermarket in Sheffield from property developer Opus North for £51.7m and the purchase of a Tesco store in Scunthorpe from Legal & General for £53m.
Macfarlanes also advised on a related five-year £52.1m interest-only loan facility with Bayerische Landesbank.
Shakespeare Martineau LLP acted for existing client, Capreon, on the acquisition of two retail parks, Imperial Retail Park, Bristol and Fife Central Retail Park, Kirkcaldy, for a total consideration of £164 million.
Imperial Retail Park, covers a total of 32,200m2 and is the largest retail and leisure destination in South Bristol. The scheme is anchored by B&Q, The Range, HomeSense, M&S Foodhall, Next and Boots, and is currently 97% let.
Freshfields Bruckhaus Deringer LLP (‘Freshfields’) is advising BP in relation to the English law aspects of its proposed acquisition of BHP Billiton’s onshore shale oil and gas assets in the US.
The acquisition will bring BP extensive oil and gas production and resources in the liquids-rich regions of the Permian and Eagle Ford basins in Texas and in the Haynesville gas basin in Texas and Louisiana.
The transaction, which is valued at US$10.5bn, is subject to regulatory approvals and is anticipated to complete by the end of October 2018.
Hogan Lovells, the global law firm, has acted for M&G Real Estate, one of the world’s leading financial solutions providers for global real estate investors, in relation to the purchase of 36 Queen Street, a newly refurbished 47,000 sq ft commercial building in the heart of the City of London, from Speedy Result Limited for £55m.
Cleary Gottlieb represents Latour Capital and Bpifrance in connection with their announced consortium acquisition of the environment division of Plastic Omnium.
Stuttgart – Allianz Real Estate has acquired the Gångaren 11 office building in Stockholm’s West Kungsholmen district on behalf of several Allianz insurance companies. The vendor is real estate firm AMF Fastigheter. The transaction is worth around EUR 174 million.
A team led by Dr. Peter Vocke, Partner at Heuking Kühn Lüer Wojtek’s Düsseldorf office, successfully advised Domicil Real Estate Group on the acquisition of the “Solitude” portfolio in Stuttgart. Domicil acquired the residential portfolio of 145 residential and 11 commercial units from LC Liegenschaft Consulting for some EUR 50 million in an asset deal. The buildings are mainly located in Stuttgart, additionally in Leonberg, Reutlingen, and Calw.
Charles Russell Speechlys LLP has advised IN’n’OUT Autocentres on the acquisition of the business and assets of Concorde Tyre & Exhaust Centres Ltd, one of the UK’s largest independent tyre, exhaust, repair and MOT service centres, through a pre-pack administration process.
The acquisition will complement IN’n’OUT’s existing portfolio of autocentres and following the acquistion the company will run 30 outlets nationwide.
Matheson advised Monument Re on its acquisition of a run-off portfolio of linked and traditional business from MetLife Europe DAC, initially through reinsurance to Monument Re followed, upon receipt of court approvals, by the transfer of the portfolio to Laguna Life DAC. The portfolio covers in excess of 9,000 policies, with assets of approximately €500 million. Transfer of the portfolio will follow satisfaction of customary closing conditions, including receipt of regulatory approvals.
Brian McCloskey, Corporate M&A Partner at Matheson said: