London – LAWFUEL – Law News Network – DLA Piper Rudnick Gray Cary UK LLP (“DLA Piper”) has advised Yianis Docklands Hotels Limited on the acquisition of the group of companies whose main asset is the five star Marriott Hotel at West India Quay in London Docklands. The companies were acquired from Marylebone Warwick Balfour Group Plc (“MWB”) and Manhattan Loft Corporation (“MLC”) for a cash consideration of £110 million.
Yianis Docklands Hotels Limited, which was formed for the purpose of the acquisition, is a subsidiary of the Yianis Group and is owned by successful property entrepreneur John Christodoulou.
The DLA Piper corporate team was led by Tom Whelan with assistance from Jonathan Richards, Andrew Wardrop, Chris Williams and Vinit Chandra. Other lawyers working on the acquisition included Karen Friebe and Emma Lawrenson (real estate), Mark Phillips, Edward Minter and Lorraine Clover (banking), Michael McCormack and Mark Burgess (tax), Bruce Bentley (construction) and Vinita Arora (employment).
DLA Piper corporate partner, Tom Whelan commented: “This is the second transaction on which we have represented the Yianis Group in the hotel sector following the Four Seasons Hotel acquisition in Canary Wharf and represents another high profile transaction at the luxury end of the market. Apart from corporate, real estate and banking expertise, the transaction involved the full range of transaction services that we offer and was a huge team effort.”
This is the second major transaction in the hotel and leisure sector that DLA Piper’s London team has advised on this month, following the announcement of the proposed £767 million takeover of De Vere Group plc by DLA Piper client, AHG Venice Limited.
