Dentons' Real Estate team in Warsaw has advised Ghelamco on the sale of a 50% stake in the Warsaw Spire tower (Building A), the tallest office tower in Central Europe, to Madison International Real Estate Liquidity Fund VI LP. The value of the tower is approximately EU350 million, which makes the sale one of Poland's largest office real estate transactions in recent years.
Freshfields Bruckhaus Deringer LLP (‘Freshfields’) has advised Liberty Global plc, the world’s largest international TV and broadband company, on the sale of its operations in Germany, Hungary, Romania and the Czech Republic to Vodafone for a total enterprise value of approximately €19bn.
On 7th May, 2018, King & Wood Mallesons’ cross-border team, advised Luye Pharma Hong Kong Limited (“Luye Pharma”) on its transaction signed with AstraZeneca relating to the sale and licence of the rights to Seroquel and Seroquel XR (Products) in the UK, China and other 49 international markets, including Brazil, Australia, Saudi Arabia, Mexico, South Korea, Thailand, Argentina, Malaysia and South Africa. The purchase price for the transferred and licensed assets is US$546 million and is payable in four instalments.
Greenberg Traurig Germany advised a joint venture between the three partners Kauri CAB Management GmbH (Kauri CAB), a Sovereign Wealth Fund and Apeiron/Ailon on the sale of a residential property portfolio. The sale took place by way of a share deal to a fund managed by the Blackstone Group.
The portfolio comprises approximately 2,500 housing units as well as 130 commercial units and is located in central Berlin and eastern Germany.
European-focused commercial real estate firm NorthStar Realty Europe has sold the Maastoren (Maas Tower) in Rotterdam, the tallest office building in the Netherlands, to a joint venture made up of between FOM Real Estate, Asia Pacific Real Estate and Coquine SA.
NorthStar acquired the 44 floor, office building which comprises 38,000sqm of floor space and 639 parking spaces in an indoor parking garage, in December 2014.
CMS has acted for Mainstream Renewable Power (“Mainstream) on the disposal of the 450MW Neart na Gaoithe offshore wind farm project to the EDF Group, via EDF Renewables in the United Kingdom, a joint subsidiary of EDF Energy and EDF Energies Nouvelles. Mainstream is the world's leading pure-play renewable energy developer in high growth markets.
Shearman & Sterling advised industrial conglomerate Textron on the sale of its Tools and Test Business (“Tools & Test”) to Emerson, a global technology and engineering company, for approximately $810 million. The acquisition, joined with Emerson’s Ridge Tool Company, creates a global $1 billion professional tools business with the broadest offering for mechanical, electrical and plumbing contractors. The closing of the transaction is subject to the satisfaction of customary closing conditions, including the receipt of regulatory approvals.
Paul Hasting LLP, a leading global law firm, announced today that it has advised leading global private investment firm Starwood Capital Group on the sale (by a controlled affiliate) of a portfolio of 14 U.K. hotels that form part of The Principal Hotel Company to Foncière des Régions (through its subsidiary dedicated to hotel real estate, Foncière des Murs). Terms of the transaction, which is expected to be completed in June 2018, were not disclosed.
International law firm Trowers & Hamlins has advised two housing associations and an investment fund on a series of large scale portfolio sales and purchases. The sales consisted of over 1,300 units of accommodation with a value of in excess of £84m and the portfolio acquisitions were of over 2,700 units with a value of around £150m, all completed in the same six month period.
The transactions included the sale of national housing association stock to allow for a more effective service to residents.
Watson Farley & Williams (“WFW”) has advised Burbo Extension Ltd (“BBE”), a joint venture between Ørsted A/S (formerly known as DONG Energy), Danish pension provider PKA and KIRKBI A/S, parent company of the LEGO Group, on the sale of transmission assets valued at approximately £193m to Diamond Transmission Partners BBE Ltd (“DTP”), owned by a consortium comprising Mitsubishi Corporation and HICL Infrastructure Company Ltd. The divestment took place pursuant to the Offshore Transmission Owner (“OFTO”) regime.