News & Events | News

Friday 3rd December 2004

SJ Berwin has advised Real Estate Investors PLC ("REI"), which floated on AIM in June 2004, on the acquisition of the entire issued share capital of Bacchus Estates Limited from the founder shareholders of Van de Berg & Co. Limited. The total consideration for Bacchus is £9 million, to be financed by a combination of the assumption of the existing debt of Bacchus, cash and the issue of new REI ordinary shares.

Bacchus' property portfolio comprises thirteen retail and A3 leisure trading properties, based principally in the South of England, and is entirely let on long leases, to tenants including Done Bros. and Pizza Express.

The SJ Berwin team was led by Jonathan Metliss and corporate partner Delphine Currie, assisted by corporate assistant Joe Lewis, real estate assistant Neil Biswas and tax assistant Clare Smith.

This is a further example of SJ Berwin's continuing activity in the corporate property sector.

• SJ Berwin is a full-service international legal practice with more than 450 lawyers across its offices in London, Brussels, Frankfurt, Berlin, Munich, Madrid and Paris.
  
• Our highly regarded M&A and buy-outs practice has a wide range of experience, acting for financial institutions, trade purchasers, corporates and management teams both on the buy side and sell side of domestic and cross-border deals.
  
• SJ Berwin's real estate team was awarded "Real Estate Team of the Year" in the Lawyer magazine awards 2004, following its advice on the RBS/Canary Wharf transaction the highest value property investment transaction in the UK in 2004.