Herbert Smith has advised BAA plc in connection with the disposal of its interests in manufacturers’ outlet centres at Livingston, Mansfield and York, to The Designer Retail Outlet Centres Limited Partnership, a client of Morley Fund Management, together with its interest in the manufacturers’ outlet centre at Ashford to CGNU Life Assurance Limited.
The disposal of BAA’s interests in the manufacturers’ outlet centres, which sell designer brands at discount prices, will generate proceeds of £165 million to BAA.
The Herbert Smith team was led by Gareth Roberts and Alex Kay, assisted by Jonathan Bashforth and Ben Brown (Corporate), Julian Pollock and Matthew Winn (Real Estate). Ewen Fergusson, assisted by James Renwick, provided finance advice and Isaac Zailer, assisted by Will Arrenberg, advised on tax issues. The Herbert Smith team worked alongside BAA’s Director of Group Legal, Robert Herga.
Ashurst Morris Crisp (Ian Nisse) represented the Purchasers.
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Notes to editors
- Herbert Smith is an international broad-based law firm with over 1,000 lawyers (including some 190 partners) and a network of offices in Europe and Asia. We are committed to providing legal services of the highest quality to major corporations, financial institutions, governments, and all types of commercial organisations. In addition, we have a formal alliance with the leading German firm, Gleiss Lutz, and the leading Dutch and Belgian firm, Stibbe.
- For further information please contact Gareth Roberts on 020 7374 8000 or Tom Rose, Head of Communications on 0207 466 3119 or tom.rose@herbertsmith.com