A team led by Carlo Montella with Cristina Martorana, Andrea Gentili, Celeste Mellone, Marcello Montresor and Simonetta Formentini assisted ForVEI, a JV between Foresight and VEI Green, in a competitive auction that identified ERG Power Generation, a subsidiary of ERG, as buyer of the entire share capital of ForVEI.
Berwin Leighton Paisner (BLP) have advised Aberdeen Asset Management Germany as investment manager on the sale of a mixed-used commercial building to DC Values who bought the object for their special real estate fund “DCV Highstreet Nr. 1”.
Slaughter and May is advising Wing Tai Properties on the disposal of the “Winner Godown Building” in Tsuen Wan, Hong Kong. On 1 December 2017 Wing Tai announced that it had entered into a provisional sale agreement with Sunny Global Development Limited in respect of the sale for a consideration of HK$2,162,460,000. The sale is a “major transaction” under the Listing Rules of HKEx and the sale is conditional on shareholders’ approval. Please see the announcement here.
Contacts
Partners: David Watkins, Roger Cheng
Eversheds Sutherland advised Otava as Otava agreed to sell two office properties in Pasila, Helsinki, with a total area of 17,500 sqm to YIT Corporation. As part of the agreement, Otava simultaneously leased 6,000 sqm from the middle block of YIT’s Tripla, which will be completed in stages during 2019-2021. The transaction is expected to be finalized in 2018 and 2020.
Dentons advised Skanska Property Poland on the sale of the first building in the Generation Park office complex in Warsaw - its largest office investments in Central and Eastern Europe. The 21,000 sq. m. building was acquired by HansaInvest Real Estate Assets GmbH, one of the largest investment firms in Germany. City Service Center Poland will be its key tenant and will occupy nearly the entire building.
The Media team of BEITEN BURKHARDT has assisted Media Group Medweth with selling the premium women's magazine MADAME to Bauer Media Group. The transaction is still subject to clearance by the competent antitrust authorities.
WilmerHale client AM General has sold its commercial assembly plant in Mishawaka, Indiana to SF Motors, an electric vehicle clean mobility company. The cross-functional WilmerHale team representing AM General included Jamie Gorelick, Stephen Preston, Jason Chipman, Stephanie Evans, Kenneth Zhou, Lester Ross, Doug Burton, Scott Kilgore, Julie Hogan Rodgers and Libby Ragan.
Watson Farley & Williams (“WFW”) has advised Singapore-based RCMA Group (“RCMA”) on its agreement to sell its rubber trading and distribution business in Europe, the United States, Singapore and Thailand. The purchaser will be SGX-listed Halcyon Agri Corporation Ltd (“Halcyon Agri”) which has a market cap of approximately SG$933m. The completion of the deal is subject to merger control approval in a number of jurisdictions.
Clifford Chance has advised investment management firm Aberdeen Asset Management Deutschland on the sale of business centre Palac Andel in Prague's Smichov-Andel district for EU57.8 million. The new owner of this 14 630 sq. m modern administrative building is LaSalle Investment Management, the global real estate investment company; the acquisition was made via its open European-owned real estate fund LaSalle E-REGI.
Ashurst has advised Automotive Holdings Group Limited (AHG) on the A$400 million sale of its refrigerated logistics business, comprising the operations of Rand, Harris, Scott's and JAT, to CC Logistics (Australia) Pty Ltd, a wholly owned subsidiary of HNA Group (International) Company Limited (HNAI).
The consideration will comprise A$280 million in cash and the assumption by the buyer of A$120 million of finance lease liabilities. The transaction is structured as the sale and purchase of all of the shares of four corporate entities.