Eversheds Sutherland has advised long-standing client Letterone Treasury Services on the completion of the sale of its Pure Student Living student accommodation portfolio to iQ Student Accommodation (iQ).

The LetterOne group (LetterOne) is a privately owned Luxembourg-based global investment business focused on utilising its financial resources, management and investment expertise to make value-driven investments internationally. Letterone Treasury Services manages the group’s liquidity.

Kirkland & Ellis LLP advised Spectrum Brands Holdings, Inc. (NYSE: SPB), a global consumer products company, on its agreement to sell its Global Consumer Battery Business to Energizer Holdings, Inc. (NYSE: ENR), one of the world’s largest manufacturers of primary batteries and portable lighting products, for approximately $2 billion in cash. The transaction is expected to close by the end of calendar 2018 and is subject to customary closing conditions. The full press release is available here.

Osborne Clarke has advised investment manager Triple Point on the disposal of a portfolio of four operational solar farms with an aggregate capacity of 34.5MW.

The solar parks are expected to generate revenues of over EUR 4.4 million annually. All are located in the South of England and benefit from Renewables Obligation Certificates (ROCs), which provide support for a period of 20 years. Power from the parks will be sold under a long-term power purchase agreement (PPA).

International legal practice Osborne Clarke has advised investment manager Triple Point on the disposal of a portfolio of four operational solar farms with an aggregate capacity of 34.5MW.

The solar parks are expected to generate revenues of over EUR 4.4 million annually. All are located in the South of England and benefit from Renewables Obligation Certificates (ROCs), which provide support for a period of 20 years. Power from the parks will be sold under a long-term power purchase agreement (PPA).

Slaughter and May advised Bupa Insurance Limited on the sale of Bupa House, Bloomsbury Way, London  WC1A.  The purchaser is LabTech Investments Ltd, a real estate and technology company with existing holdings in the Holborn area.

Contacts

Real Estate: John Nevin (partner), Kate Shirlaw (associate)

CMS has advised each of Intellectual Property & Software Ltd (IPS), European Domain Management Ltd (EDM) and Rocket 9 Ltd (Rocket 9) on their entry into a business sale agreement with NASDAQ First North Premier listed Swedish mobile gaming company, LeoVegas AB (publ) (LeoVegas).

Eversheds Sutherland has advised longstanding client KPMG on completing the sale and leaseback of its headquarters at 15 Canada Square, Canary Wharf, to Kingboard Investments of Hong Kong for c.£400m.

Following an open tender, Eversheds Sutherland was instructed by KPMG to advise on all legal aspects of this particularly complex, top-flight transaction. 

The Eversheds Sutherland team was led by Partner and Head of London Real Estate Bruce Dear, working with Partner Nef Jones, Senior Associate Jonathan Woodward and Associate Natasha O’Neill.

King & Spalding acted for Toyota Tsusho Corporation in the disposal of its interests in the Otway Gas Project (OGP) and BassGas Project in Australia, which are to be purchased by Beach Energy Limited.

Global law firm Dentons has advised investment management firms CR Holding GmbH and Värde Partners on the successful sale of six retail parks to Cologne-based REWE Group. The retail parks are part of the Saturn-Portfolio and are located in the western and southern part of Germany. Through this transaction, leading German food retailer REWE Group plans to increase its rate of store ownership.

DLA Piper has advised OX2 on its sale of the 357 MW wind farm to Aquila Capital, a leading European manager of alternative investments.

The financing of the Valhalla project comprising of 85 wind turbines has been successfully completed. Aquila Capital will acquire the project, which OX2 will deliver as an EPC contract, and it will be one of the largest onshore wind farms in Europe. The permits for the park have been developed in cooperation between OX2 and Bergvik Skog.