1 February – LAWFUEL – The Law News Network – Allen & Overy advised Morgan Stanley Real Estate Fund (MSREF) on the EUR479 million acquisition of AM Development B.V. (“AM Development”), the commercial property division of Dutch property group AM N.V.
The transaction followed the strategic review by the boards of AM last year during which it was announced that the company would be split. MSREF has now acquired AM Development. Royal BAM Group N.V. will acquire the business unit AM Residential and Land upon the successful completion of the BAM’s offer for the publicly traded shares of AM N.V. on February 10 2006.
Amsterdam-based partners Johan Kleyn and Robert Jan Lijdsman led the Allen & Overy Amsterdam team for the acquisition of AM Development, assisted by associates Victor de Vlaam and Gerard Meijer. London-based partner Ian Borman led the Allen & Overy London team on finance aspects.
Commenting, Johan Kleyn said: “The transaction was structured with the aim that BAM would acquire the Residential and Land arm of AM since MSREF was only interested in the Development part of AM’s business. This was a very complex transaction and we are delighted that we could assist MSREF to achieve this great result.”
For further information, please contact Jo Shepherd (jo.shepherd@allenovery.com) on +44 (0) 20 7330 2195 or Charlotte Hart (charlotte.hart@allenovery.com ) on +44 (0) 20 7330 4871.
