Orrick has advised Aaron Hotels and Hostels Holding AG on the sale of a 2000-bed hostel complex in Venice to A&O Hotels and Hostels.

In a first step, the existing hostel with 1000 beds has been sold. Additionally, the sale of a different building, which is currently still under construction, has been prepared. The two buildings will merge into one hostel complex, which will be the first-of-its-kind in the Italian hotel and hostel market.

Squire Patton Boggs client First Solar, Inc., a leading global provider of comprehensive photovoltaic (PV) solar systems, has announced the completion of two separate module sale deals, totaling 595 Megawatts and 200 Megawatts, respectively.

Slaughter and May is advising Legal & General on the sale of its Mature Savings business to the ReAssure division of Swiss Re for £650 million. The Mature Savings business, which is largely closed to new business, has around 1 million customers who hold traditional insurance based pensions, savings and investment products. The business includes both unit linked business and Legal & General’s with-profits fund. It generated £105 million of operating profit in 2016 and had assets of £30 billion at 30 June 2017.

Skadden is representing Engen Limited, a South African oil and gas company and a member of the Petronas group, in the sale of certain downstream assets in 10 countries in Africa to Vivo Energy, a company owned by Vitol and Helios Investment Partners, in exchange for a minority stake in Vivo.

Global law firm Ropes & Gray has advised regular client Said Holdings on its sale of 5 Churchill Place, Canary Wharf, London to the Cheung Kei Group for £270m.  JP Morgan is the lead tenant, renting ten of the building’s 12 floors, and Time Inc., American Express, Cision Gorkana and Balfour Beatty also have offices in the 319,000 sq. ft. building.

International law firm CMS has advised Manchester Airports Group (MAG), alongside corporate advisers E&Y, on its successful sale of Bournemouth Airport to Regional and City Airports (RCA), the airports management division of The Rigby Group plc.

The CMS team advised on the real estate and tax elements of the deal, and involved lawyers from across Manchester and London. CMS Managing Partner for Manchester Mark Haywood and Senior Associate Tanya Francis led on the real estate advice while Tax partner Nick Burt advised on various tax issues.

Stephenson Harwood LLP has advised a new client, AIM-listed life sciences company TyraTech Inc. on the shareholder consent required for the US$17.5 million sale of its human lice product Vamousse to Alliance Pharma PLC, the global pharmaceutical company, and on the proposed tender offer to TyraTech shareholders.

Accor-Pannonia Hotels Zrt. ("Accor"), a subsidiary of the hospitality leader Orbis Hotel Group has executed a EUR 75 million sale and management back transaction with controlled subsidiaries of Starwood Capital Group regarding the iconic Sofitel Budapest Chain Bridge Hotel ("Hotel"), located in the heart of the Hungarian capital ("Transaction").

The Transaction - encompassing, inter alia, a quota sale, related business transfer and the management back of the Hotel - is subject to the approval of the European Commission.

DLA Piper represented Goldman Sachs in the sale of a real estate portfolio consisting of 15 industrial properties for US$102 million to Plymouth Industrial REIT.

The industrial buildings in the portfolio, which total three million-square-feet, are 96 percent leased to single and multi-tenants in manufacturing and distribution. DLA Piper also represented Goldman Sachs in the related seller financing transaction.

Clifford Chance has advised CA Immo, WPI and another pension fund on the sale of Tower 185 in Frankfurt. Deka Immobilien GmbH is purchasing the office building for EUR 775 million, with CA Immo selling its one-third share. This means that CA Immo is divesting its largest single investment. The transaction is due to complete at the beginning of Q1 2018.