Olswang has advised clients of Delancey, the specialist investment advisor and long-standing client of the firm, on their sale of an 87.5% stake in Centros, the urban regeneration and mixed-use property development specialist, to Sovereign Land.
Centros is currently working on projects such as Portsmouth's Northern Quarter and Arnison Shopping Park in Durham.
Delancey's clients will retain a 12.5% stake in Centros. Ian Raeburn, a director at Delancey, said: "We believe the combined businesses will be an excellent fit and platform for new projects and look forward to our continued involvement with the group."
Corporate partner Paul Blackmore led the Olswang team with assistance from associates Simon Armitage and Ben Taylor as well as specialist tax advice from Clíona Kirby and Matthew Wentworth-May.
Nabarro acted for Sovereign.
(ends)
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Esther Harrison
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esther.harrison@olswang.com
Notes to editors
Olswang LLP is one of Europe's leading law firms in the areas of technology, media, telecommunications and real estate. The firm comprises of nearly 700 people including 100 partners, across seven European offices. Olswang is part of a 'best friends' network of leading independent law firms throughout the world.
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