FFW advises GE Real Estate on £450 million property company acquisition
16 August 2004
City law firm Field Fisher Waterhouse (FFW) has advised new
client GE Real Estate, part of US conglomerate GE, in connection
with its acquisition of UK property company Benchmark Group plc,
for an enterprise value of £450 million.
FFW undertook property due diligence for GE Real Estate on all
the 40+ properties in Benchmark’s existing portfolio (both wholly
and partly owned) and on 40+ properties recently traded by
Benchmark (to investigate any outstanding corporate liabilities).
The property portfolio is almost exclusively located in London’s
West End and includes The Halkins in Belgravia, the Golden Square
Development in Soho and The Roof Gardens in Kensington High Street
(the former Derry & Toms/Biba building).
FFW also advised on some compliance and advisory agreement
aspects of the acquisition.
Jasper Hunt led the FFW team which included Jayne Elkins and
John Pedder, all partners in the Real Estate Department. The team
also comprised solicitors Chris King, Gary Pickard, Antony Avogadri
and Matthew Smith.
GE’s legal team, which instructed FFW directly, was led by
Beatrix Parsons, the Legal Director of GE Real Estate UK, and
Benedict O’Halloran, Transactions and Finance Counsel for the GE
group.
Slaughters and May’s head of corporate Chris Saul, together with
corporate partner Elizabeth Holden, and assistants Tim Bowley,
Rachel Broquard and Michael Corbett advised GE Real Estate on the
corporate and environmental law aspects of the acquisition.
Norton Rose’s corporate partner Simon Sackman advised Benchmark
on the corporate aspects of the disposal. He was assisted by
corporate partner Mark Lloyd Williams, associate Anthony Riley and
assistant Claire O’Donnell.
For further press information please contact:
Ben Girdlestone, Communications Manager on 020 7861 4968
Louise Eckersley, PR Executive on 020 7861 4120