Gleiss Lutz has assisted ZF TRW, the Active and Passive Safety division of ZF Friedrichshafen AG, on the definitive sale agreement of its global Engineered Fasteners and Components business for approximately USD 450 million. The purchaser is the US group Illinois Tool Works Inc. (ITW). 

ZF TRW’s Engineered Fasteners and Components business employs 3,500 employees at 13 sites in nine countries, serving customers in Europe, Asia and North America. 

Wragge Lawrence Graham & Co's (WLG) Energy team has acted on one of the UK's largest ever solar M&A deals, advising Primrose Solar on the sale of four solar farms.

Bluefield Solar Income Fund (BSIF) acquired the farms, which have a total capacity of 94.5 MW. The sale included one of the UK's largest operational farms, the Southwick Estate in Hampshire (48 MW).

The other farms are Littlebourne (17 MW) and Molehill (18 MW) in Kent and Pashley (11.5 MW) in East Sussex. All four were development projects acquired and constructed by Primrose.

London - Mayer Brown has advised Crosstree Real Estate Partners on the sale of its interests in 207 and 211 Old Street, London EC1, also known as The Bower, to Helical Bar plc for a combined priced that valued the assets at £248 million. Simultaneously, Crosstree has agreed to acquire the retail parade, at 183-213 Old Street, London EC1, for £23 million.

Herbert Smith Freehills has advised London-based Brompton Asset Management on the A$70 million sale of its prime office asset in Canberra’s CBD.

Located at 255 London Circuit, the property was sold to Growthpoint Properties Australia Limited, with settlement of the deal finalised this month.

The office building, a crown leasehold interest, is leased to the Commonwealth of Australia represented by the Department of Foreign Affairs and Trade. The current lease term is due to expire in September 2027, with one further option of five years.

Clifford Chance has advised a fund of funds of Provinzial Rheinland on the sale of two care homes in Germany to WI-IMMOGroup GmbH, based in Hildesheim.

The homes, located in Duisburg and Dortmund, were completed in 2011. They each comprise a total leasable area of around 3,900 m² and are each designed to accommodate 80 patients. The homes are operated by ProjectCare Ruhr Betriebsgesellschaft mbH, Frankfurt, which was established in 2009 with Provinzial Rheinland as one of its founding shareholders. The parties agreed not to disclose any details of the purchase price.

Delphi has assisted K/S Bolandsgatan in the sale of a property in Uppsala. The property has an excellent trading location in the district Boländerna. The majority of the property is occupied by a building erected in 2003 which was sold fully leased.

Delphi's team consisted of responsible partner Anders Hulegårdh assisted by Rickard Isacson.

Clifford Chance has advised Sumitomo Corporation on its sale with Vale of the Isaac Plains Coal Project in Queensland, Australia to Stanmore Coal.

Vale has held 50% of the project for some time, with Sumitomo Corporation buying the other 50% in 2012 for $430 million. Mining operations at the site of the project had recently ceased and the project is in care and maintenance.

Weightmans has advised local charity organisation Alt Valley Community Trust Limited (AVCT) on the stock transfer of a community centre based in Dovecot, aimed to provide skills and training to unemployed and disadvantaged local people.

The deal, which involved asset transfer and leasing, will see a new theatre, nursery facilities, library, gym, education and training facilities and a café, all built within the new state of the art centre, set to be the largest in the city.

Assisted ASR Dutch Prime Retail Fund in the sale of Shopping Centre De Klanderij in Enschede to a fund of the German investor Union Investment Institutional Property GmbH. The transaction value is approximately €118,000,000.

Houthoff Buruma team included: Lucas Louwerier, Paul Asselbergs, Ester de Boer, Caroline Schoenmakers, Asia Bebenek, Anne Marie Ferwerda, Loes van den Hurk, Sahieda Nanhay-Khan

The Bayer group has sold its Diabetes Care business to Panasonic Healthcare Holdings Co., Ltd. The total consideration for this transaction, which includes blood glucose monitoring systems and lancing devices for people with diabetes, is around one billion Euros (JPY 132 billion). The Diabetes Care business will now operate as a stand-alone company named Ascensia Diabetes Care Holdings based in Basel, Switzerland.