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Asset Sale: Seller's Counsel

Herbert Smith Freehills Paris advises ICADE on the sale of 36 Mr Bricolage stores to Tikehau capital for €126M

17 Dec 2014

Herbert Smith Freehills Paris has recently advised Icade, a listed French real estate investment company and subsidiary of the Caisse des Dépôts, on the sale of a portfolio of "Mr. Bricolage" stores, after a call for proposals from investors, via the sale of Icade's entire stake in the company "Icade Bricolage" to the Tikehau Capital group.

This portfolio, mostly acquired by Icade in early 2008, comprises 36 assets located throughout France. The transaction was carried out based on a value of 126.2 million euros excluding duties.

Herbert Smith Freehills advises Johnson Matthey on two M&A deals in five weeks

16 Dec 2014

Herbert Smith Freehills has advised Johnson Matthey Plc on the divestment of its Gold and Silver Refining business to Asahi Holdings, Inc., a collector, refiner and recycler of precious and rare metals from waste materials, for £118 million (US$186 million) in cash, subject to typical post-closing adjustments.  The transaction is expected to be completed by the end of March 2015.

Johnson Matthey’s Gold and Silver Refining business is a refiner of primary and secondary gold and silver materials.  It serves customers globally from refineries in the USA and Canada.

DLA Piper advises Hahn Group on sale of Erding

16 Dec 2014

DLA Piper has advised the Hahn Group, an asset and investment manager with a focus on retail properties, on the sale of shopping centre Erding to the KGAL Group.

KGAL has acquired the property for an institutional real estate fund. Erding was opened in 2008, and offers a broad range of services and products over a total of some 33,000 square metres of rental space. The Hahn Group as seller of the property was acting on behalf its HAHN FCP-FIS-German Retail Fund, which is marketed to institutional clients.

GSK advises Multiplex Property Fund on the sale of nursing homes portfolio to Patrizia

15 Dec 2014

GSK Stockmann + Kollegen advises Multiplex European Property Fund, a property trust listed on the Australian Securities Exchange (ASX) which owns more than 90% interest in property assets located throughout Germany, on the sale of five nursing homes in Germany to Patrizia Pflege-Invest Deutschland I, a real estate special fund focussing on modern, high-quality health care properties.

Roschier represented AXA Real Estate Investment Managers in the sale of a real estate portfolio

15 Dec 2014

Roschier represented a fund managed by AXA Real Estate Investment Managers in the approx. EUR 107 million sale of a real estate portfolio in Finland to a joint venture between Trevian Asset Management and H.I.G. Capital.
 
The portfolio comprises 123 retail properties with a total lettable area of approx. 128,500 sqm located in over 90 different municipalities, primarily in residential areas within Western Finland. The tenants of the properties include a number of Finland’s leading grocery retailers.

CMS advises Land Securities on sale of Scotland’s second largest shopping centre

11 Dec 2014

CMS has advised longstanding client Land Securities on the £224.1m sale of The Centre and Almondvale West Retail Park, Livingston to HSBC Alternative Investments. The Centre is Scotland's second-largest covered shopping centre and totals more than 1 million sq ft with over 160 retailers.

Land Securities is the UK's largest listed commercial property company and a member of the FTSE 100. The company owns and manages more than 25 million sq ft of property, from shopping centres to offices, valued in excess of £13.2 billion.

Wragge Lawrence Graham & Co advises RGE Energy UK on 12MW disposal

10 Dec 2014

Wragge Lawrence Graham & Co's solar energy specialists have advised RGE Energy UK (RGE) on a further transaction - the disposal of a 12 MW solar PV project.

A multi-disciplinary team, led by corporate director and energy specialist Gareth Baker, advised RGE on the corporate, planning, real estate and tax issues relating to the disposal.