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Asset Sale: Seller's Counsel

Eversheds advises SEGRO on £153.3m million sale

18 Nov 2014

Eversheds has advised SEGRO on the sale of its portfolio of six logistics properties and a smaller regional warehouse to Logicor, Blackstone’s European logistics platform, for £153.3m.

The 2m sq ft portfolio comprises logistics warehouses formerly part of the Logistics Property Partnership joint venture located in Bardon, Bicester, Maidstone, Sheffield, and Swindon, and a smaller warehouse in Norfolk purchased by SEGRO as part of a portfolio transaction in July 2014.

DLA Piper advises Alcatel-Lucent on the sale of its cyber and communication security to Thales

14 Nov 2014

DLA Piper has advised Alcatel-Lucent on the sale of its cyber and communication security to Thales. This agreement comes as a result of a strategic partnership between Thales and Alcatel-Lucent, which will enable Alcatel Lucent to strengthen its position in the field of secure networks and to offer to its customers end-to-end network security solutions, combining its integrated security expertise in telecommunication products with complementary services.

Vinge’s Advises On The Sale Of Leos Lekland

14 Nov 2014

Vinge has advised KFI Kapital AB, a wholly owned subsidiary within the KF group, as well as other sellers in connection with the sale of Leos Lekland to Litorina. Leos Lekland was founded in Luleå in 2006 and is currently the Nordic region’s leading chain of children’s activity and adventure centres with 22 owned facilities and an anticipated turnover in 2014 of approximately SEK 250 million.

Olswang advises Prezzo on Texas Pacific Group’s offer for Prezzo

13 Nov 2014

Olswang is advising Prezzo, the casual dining chain, on the recently announced offer for it by funds advised by leading private equity group Texas Pacific Group.

TPG's bid values Prezzo in excess of £300 million, and is to progress by way of a scheme of arrangement. Prezzo is being advised by financial advisers, Altium Capital Limited.

Since the business was founded in 2000, Prezzo has grown into a successful and popular dining business with 249 restaurants in towns and cities across the UK.

CMS advises SSE on £326.4m street lighting disposal to Equitix

13 Nov 2014

CMS has advised SSE plc (“SSE”) on the completion of a sale to Equitix Infrastructure 3 Limited (“Equitix”), of its 100% equity interest in the special purpose entities (SPEs) established in England under the Private Finance Initiative, for the delivery of seven street lighting projects.

The SPEs are funded through a mix of senior debt and equity, and the removal of this project-related senior debt, along with the cash consideration of £97.5m, will have the immediate effect of reducing SSE’s net debt by £326.4m.

Lincs Wind Farm Limited - disposal of offshore transmission assets relating to Lincs Wind

13 Nov 2014

Slaughter and May advised Lincs Wind Farm Limited (a joint venture between Centrica, DONG Energy and Siemens Project Ventures) on the disposal of the offshore transmission assets relating to the Lincs Wind Farm to TC Lincs OFTO Limited.

The Lincs Wind Farm is a 270MW wind farm sited 8 kilometres off Skegness on the east coast of England.

The final transfer value for the assets, as determined by OfGEM pursuant to its cost assessment process, was £307.7 million.

CONTACTS

Greenfields and new horizons: Allens acts on year's largest land deal

13 Nov 2014

Allens has advised Places Victoria, the Victorian Government's property development agency, on its sale of two residential growth corridor development sites for a combined $180 million.

Places Victoria sold the Aurora development site in Epping North to Lend Lease and the Aspect/Officer development site in Officer to Satterley Property Group.

These sites, in Melbourne's outskirts, will be developed by the respective purchasers, with Places Victoria developing the adjoining town centres.

Delphi and Swedbank Företagsförmedling advisor to Hylte Lantmän Ek. för. in the sale of all assets

12 Nov 2014

Delphi and Swedbank Företagsförmedling have advised Hylte Lantmän Ek. för. in the sale of all assets to Hylte Lantmän AB. Hylte Lantmän Ek. för. trades in sports equipment, hunting equipment and garden materials.

Delphi's team consisted of Olof Myhrman, partner of Delphi's M&A group and Lina Hallgren as project manager in Delphi's M&A group.

Swedbank Företagsförmedling was represented by Håkan Rydin.

First Reserve Announces Sale of Helicopter Portfolio to Waypoint Leasing

12 Nov 2014

Simpson Thacher is representing First Reserve in its sale of a portfolio of 31 helicopters to Waypoint Leasing Holdings Ltd.  Waypoint Leasing is a global helicopter leasing company headquartered in Ireland.  All helicopters are subject to long-term lease agreements with the CHC Group Ltd., in support of global oil and gas and search-and-rescue operations.  The transaction, which signed on October 27, 2014, is subject to customary closing conditions and is expected to close in the fourth quarter of 2014.

Paul Hastings Represents Putnam Holding Company in Sale of Portfolio of New York Multifamily Residential Properties

11 Nov 2014

Paul Hastings LLP has represented Putnam Holding Company, LLC, a joint venture managed by affiliates of The City Investment Fund, L.P. and Urban American Real Estate, in the October 2014 sale of a 4,000-unit portfolio of New York multi-family residential properties for a purchase price in excess of $1 billion.

Real estate partner Robert Wertheimer led the Paul Hastings team, which included partners Tom Mounteer, Marc Bernstein, Robert Kristoff, Eric Keller, senior associate Nathalia Bernardo, associates Adam McGovern, Jessica Wald, and Kate Nelson.