Pinsent Masons has advised Element Power on the construction, procurement and sale of its Tynemouth Energy Storage project to ENEL for an undisclosed sum.

Last summer, the storage project in North East England broke new ground when it won one of the eight contracts with National Grid to provide services as part of its first enhanced frequency response tender. The initiative aims to alleviate grid constraint due to the UK’s increasingly diverse energy generation mix.

A multi-jurisdictional team has advised EVRAZ plc, the London listed globally integrated steel, mining and vanadium company, on its disposal of the entire issued share capital of its fully owned subsidiary Joint Stock Company EVRAZ Nakhodka Trade Sea Port to its majority shareholder Lanebrook Limited for cash consideration of US$354.4 million. As part of the transaction, EVRAZ entered into a long-term transhipment agreement with Nakhodka Port pursuant to which the EVRAZ Group has agreed to supply, and Nakhodka Port has agreed to tranship, coal and metals for a period of five years.

Delphi has acted as legal advisor to Amasten in an exchange deal with NSI Invest which involves the sale of nine properties in Sollefteå and Härnösand, as well as acquisition of a larger property in Sundsvall including both residential and commercial leases, as well as three smaller commercial properties in Karlskoga and Smålandsstenar.

The deal is structured as a share transfer and the acquisitions are based on an underlying property value of SEK 63.8 million and the sales at an underlying property value of SEK 90.8 million.

Osborne Clarke has advised the shareholders of TB Resorts Ltd on the sale of luxury Hotel and Spa, Treasure Beach Hotel & Spa, which is located on the West coast of Barbados for an undisclosed sum.

Situated on the “Platinum Mile”, the most prestigious stretch of the beautiful sandy beach coastline in Barbados, Treasure Beach Hotel & Spa is a 35 room luxury hotel.

CA IMMO, a Vienna-based real estate company, and Union Investment Real Estate, a German real estate investment manager, successfully sold their co-owned logistics centre named Aerozone, thus completing the strategic process of CA Immo’s withdrawal from the logistics segment.

Aerozone, the last logistics facility co-owned by CA Immo, is strategically located near Budapest Ferenc Liszt International Airport and has a total floor area of 65 000 sqm.

Squire Patton Boggs has advised Inversiones Gasolgest on the sale of Hotel Innside Madrid Genova to Sardinero Hoteles. As part of the transaction, the management and day-to-day running of the hotel will also transfer from previous operator, Meliá Hotels and Resorts, to Sardinero Hotels.

Herbert Smith Freehills has advised Origin Energy on its agreement to sell the Stockyard Hill wind project in Victoria to Goldwind International. Once developed, Stockyard Hill will be the largest wind farm in the Southern hemisphere.

Osborne Clarke has advised Ellandi in joint venture with Avenue Capital, on the sale of The Strand Shopping Centre in Bootle to Sefton Borough Council.

Ellandi has asset managed the shopping centre for the last two and a half years and will continue in this role, working with Sefton to deliver their regeneration strategy for the town.

Ashurst advised Houston-based independent energy company VAALCO Energy, Inc. on the transfer on its assets to a fully owned Gabonese subsidiary, VAALCO Gabon S.A., in accordance with the OHADA Company Act.

Ashurst advised Houston-based independent energy company VAALCO Energy, Inc., which operates the Etame Marin block in Gabon, on the transfer of its assets to a fully-owned Gabonese subsidiary, VAALCO Gabon S.A. (VGSA), in accordance with the OHADA Company Act.

Slaughter and May advised Minerva, a joint venture between clients of Delancey and Ares Property Partners, on the sale of the development site consisting of Nestlé House and Queen’s Square in Croydon to R&F Properties for circa £60 million. Nestlé House, the former offices of Nestlé, has planning permission for 288 new residential units with a further 800 residential units and commercial units planned for the remainder of the site.

Contacts

Real Estate: Jane Edwarde (partner), Ben Redding (associate)