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Asset Sale: Seller's Counsel

Norton Rose Fulbright advises Future plc on sale of Sport and Craft titles, refinancing and transfer of listing category

07 Jul 2014

Norton Rose Fulbright has advised Future plc (Future) on the sale of its Sport and Craft titles, refinancing and transfer of its listing category.

Future specialises in the publication of special interest magazine titles and websites. Future has sold its Sport and Craft titles to Immediate Media Company Bristol Limited for up to £24 million. The magazine titles and websites sold include the market leading ‘Mountain Biking UK’, ‘Cyclingnews.com’, ‘Mollie Makes’ and ‘Simply Knitting’.

Clifford Chance advises Citi on the sale of its consumer banking business in Spain

30 Jun 2014

Leading international law firm Clifford Chance is advising Citi on the sale of its consumer banking business in Spain to Banco Popular. The transaction, subject to regulatory and other customary approvals, is expected to close in the third quarter of 2014.

The Citi team of lawyers comprises Joseph Tedeschi, Brian Cheng, Allam Taj and Sancho Guibert.

Dentons advises on luxury hotel sale in the United Arab Emirates

26 Jun 2014

Dentons has advised on the sale of the landmark Movenpick Hotel at Dubai's Jumeirah Beach Residence to BM GCC Property Income Fund. Commenting on the transaction Dentons' corporate partner Iain Black said: "We are delighted to have advised the owners on this important transaction which is one of the few luxury hotel sales in the UAE in recent years and reflects the growing momentum in the GCC hotel sector in the run up to Expo 2020 and Qatar 2022."

DLA Piper advises NH Hoteles

25 Jun 2014

DLA Piper advised NH Hoteles S.A. on the sale of the entire issued and outstanding share capital of Onroerend Goed Beheer Maatschappij Stadhouderskade Amsterdam B.V. ("OGBM") to a subsidiary of Foncière des Murs, a french real estate management company. OGBM is the owner of the property in which the NH hotel Amsterdam centre is operated. Foncière des Murs and NH Hoteles S.A. also entered into a lease agreement for the sold property, in order for NH Hoteles to continue operating its hotel business of the Amsterdam Centre.

Clifford Chance advises Commerzbank and Hypothekenbank Frankfurt on the sale of its CRE portfolios in Spain and Portugal to Lone Star and J.P. Morgan

18 Jun 2014

Clifford Chance has advised Commerzbank AG and its wholly-owned subsidiary Hypothekenbank Frankfurt AG on the sale of its commercial real estate portfolios in Spain and Portugal.

The portfolios of loans in Spain and Portugal with a total volume of EUR 4.4 billion were sold to a consortium comprising J.P. Morgan and Lone Star. The platform in Spain is transferred to an affiliate of Lone Star.

Clifford Chance advises Citi on the sale of its consumer banking business in Greece

17 Jun 2014

Leading international law firm Clifford Chance is advising Citi on the sale of its consumer banking business in Greece, including the Diners Club of Greece SA credit card operations, to Alpha Bank. The transaction, subject to regulatory and other customary approvals, is expected to close in the third quarter of 2014.  The sale includes approximately €0.43 Bln in GAAP assets, 480,000 customers, €1.0 Bln in deposits and €0.4 Bln in loans.  Approximately 730 consumer banking employees and the Citi branch and ATM network in Greece will transfer to Alpha Bank.

Dentons advises Avestus on the sale of Four Seasons Hotel Prague

16 Jun 2014

Dentons Prague real estate team has advised Avestus Capital Partners (Avestus), a leading international private equity real estate group, on the sale of the Four Seasons Hotel in Prague to Northwood Investors (Northwood). Avestus has been the asset manager of the hotel since 2001 and is being retained in this role by Northwood.

Four Seasons is a luxury, 5 star hotel located in the city’s Old Town, close to Prague Castle and the Charles Bridge. It unites the styles of four architectural periods - baroque, classical and renaissance, all interconnected by a modern building.

Reed Smith advises KBC Bank on its sale and lease back of its prime City based office

13 Jun 2014

Reed Smith has advised KBC Bank on its sale and lease back of its London office at 111 Old Broad Street to China Construction Bank Group, deal value in excess of £110M. The property comprises approximately 123,000 sq. ft. arranged over eight floors.

The Reed Smith team, led by partner Graham Reid, advised on all aspects of the deal from the sale documents, through to the new leases as well as providing tax advice.

Squire Patton Boggs Advises on Sale of Sheffield Wednesday FC

12 Jun 2014

Squire Patton Boggs has advised Sheffield Wednesday Football Club and its owner Milan Mandaric on the sale of the club to Hafiz Mammadov. Mr. Mammadov, a former member of The Azerbaijan Football Association and current owner of FC Baku and RC Lens, is founder and Chairman of the Baghlan Group, the Azerbaijani construction and oil and gas company. The transaction is still subject to ratification by the Football League.

Baker & McKenzie Advises on the Sale of Four Retail Properties by The Link REIT for HKD1.239 billion

03 Jun 2014

Baker & McKenzie is advising The Link Management Limited ("Manager"), manager of The Link Real Estate Investment Trust (”The Link REIT”), on the sale of four retail properties by The Link REIT for a total consideration of HKD1.239 billion. The properties were sold by way of private tender and comprise: (i) the Hing Tin Commercial Centre; (ii) the Kwai Hing Shopping Centre; (iii) the retail and car park within Tung Hei Court; and (iv) the Wah Kwai Shopping Centre. Completion of the sales is scheduled to take place on 31 July 2014.