18 January 2005 – LAWFUEL – The Law News Network – Allen & Overy advised Nikko Principal Investments Limited (NPIL), the European principal finance arm of Nikko Cordial Corporation, on its acquisition of the four-star hotel chain, Menzies Hotel Group Limited, in a transaction that values the hotel group at £120 million.
Corporate partner Susan Howard led the Allen & Overy team, assisted
by associates James Roe, Colin Whittington and Stuart Hanbury. Partner
Adam Cleal and associate Gregory Flash advised on real estate issues.
Advice on leveraged finance aspects was provided by partner Jacqueline
Evans, assisted by associates Janie Tremblay and Camille Astier. Partner
Brenda Coleman and associate Zoe Hammond advised on tax issues.
Commenting Susan Howard said: “There is currently a great deal of
fragmentation in the UK four-star hotel sector and it is likely that this
deal will act as a platform for future consolidation. Menzies is a good
opportunity for Nikko to build a substantial position as an owner/operator
of upscale hotels within the UK and we are delighted to have advised on this strategically important transaction.”
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