International law firm Pinsent Masons has advised Royal London on its £1bn asset transfer to newly formed Irish subsidiary, Royal London Insurance DAC.
Led by insurance partner Hammad Akhtar, the firm advised the mutual on the implementation of its Brexit strategy which involves the Part VII transfer of legacy Irish, German and other business from the mutual to DAC.
On February 11, 2019, Technicolor, a worldwide technology leader in the media and entertainment sector, announced that it has received a binding offer and entered into exclusive negotiations with InterDigital, a mobile technology research and development company, for the sale of its Research & Innovation activity. The transaction would be structured as an asset purchase with a concurrent R&I cooperation agreement. Cravath is representing Technicolor in connection with the transaction.
Hamburg – Highland Group Holdings Ltd., Siemens Financial Services and Copenhagen Infrastructure Partners have sold and transferred 80% of their shares in Germany’s second-largest offshore wind farm, Veja Mate. The buyer is a European consortium comprising Commerz Real, wpd invest, KGAL Group and Ingka Group. While Highland Group Holdings Ltd. and Copenhagen Infrastructure Partners sold and transferred all of their shares, Siemens Financial Services retains a 20% stake in the Veja Mate offshore wind farm.
DLA Piper has advised Principal Real Estate Spezialfondsgesellschaft mbH on the sale of three hotels including assets in Amsterdam and Nuremberg, for EUR 122.5m on behalf of Principal Hotel Immobilien Spezialfonds. Principal Hotel Immobilien Spezialfonds is the company's first hotel fund which was established in 2012. Now in its seventh year of operation, the fund has started a phase of selective sales.
Linklaters has advised BlackRock’s Real Assets division on the sale of a portfolio of five operating wind farms and one operating solar project located across the UK to Equitix Investment Management Limited. The transaction closed on 1 February 2018.
This marks the second completed sale in the past three months for BlackRock’s Renewable Power platform in Europe and is the latest addition to Equitix’s considerable capabilities in the renewable energy sector. The portfolio being sold became operational between 2010 and 2015.
A joint venture of Klappan and Zauritz groups relied on GSK Stockmann for the sale of the premium specialist retail park Aischpark Center in Nuremberg. The buyer is a joint venture of AEW Invest GmbH. The parties agreed to keep the purchase price confidential.