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Mourant Ozannes advises Malaysian property consortium on acquisition of landmark London property
A team from leading offshore law firm, Mourant Ozannes, has acted as Jersey legal advisors to the Malaysian consortium in connection with their acquisition of London's landmark Battersea Power Station.
The team, which was led by two partners, Joel Hernandez and James Hil and assisted by Kerill O'Shaughnessy and Matt Satchell, provided the Jersey advice to the Malaysian consortium on the joint venture aspects of the acquisition.
The Malaysian consortium comprising property group, SP Setia together with multinational conglomerate, Sime Darby and Malaysia's Employees Provident Fund has acquired the Battersea Power Station for £400 million. The proposed development, which will be a 15 year project, may ultimately cost up to £8 billion.
The landmark power station went into administration in 2011, with Ernst & Young appointed to handle the sale process with magic circle firm Linklaters leading the sale for Ernst & Young.
Joel Hernandez commented: "We are pleased to have been involved in the Battersea Power Station joint venture. This deal reinforces our own observation that London commercial properties remain attractive to our international sovereign wealth and pension fund clients, particularly those in South-East Asia."
James Hill added: "It has been estimated that the project will create 25,000 jobs, which is fantastic for London. We are delighted to have been involved."
Mourant Ozannes worked alongside the deal team at Norton Rose, led by Dan Wagerfield, as well as various Malayisan and English law firms advising the Malaysian consortium.
For more information please visit www.mourantozannes.com
Mourant Ozannes is an offshore law firm.
It is the pre-eminent legal practice in the Channel Islands with unrivalled strength-in-depth and industry knowledge in Jersey and Guernsey. It also has a leading practice in the Cayman Islands where it has received a number of industry awards.
Mourant Ozannes' clients include many of the world's leading financial institutions, public companies, corporations, fund promoters and private clients. It is chosen regularly to work alongside the most respected international law firms with whom the firm enjoys deep and long-lasting relationships.
Mourant Ozannes recruits people who understand the paramount importance of exceptional client service and who share a passionate commitment to the firm's values. Many of the firm's lawyers have practised with leading law firms in London and other major finance centres bringing with them a wealth of knowledge and experience in their respective fields.
Mourant Ozannes has more top tier legal directory rankings than any other offshore law firm (as at Jan 2011 in Chambers & Partners, IFLR1000, Legal 500 and PLC Which Lawyer).