Vietnam: McDonald's to set up shop in its 38th Asian country Galyna Andrushko
Vietnam: McDonald’s venture
The global dominance of fast food chain McDonald’s spreads to its 38th Asian country as it prepares to make its much talked-about debut in Vietnam next year. Allen & Overy has taken a key role in the deal, reports Legalweek. Vietnam managing partner Dao Nguyen - from capital Ho Chi Minh City where the first restaurant will be based - acted for McDonald’s’ franchise partner Henry Nguyen. Nr Nguyen is responsible for the Vietnam brand and is the son-in-law of the Vietnamese prime minister. Vietnamese law firm YKVN acted for McDonald’s.
Middle East: hot property
Allen & Overy has advised on a ground-breaking transaction in the Middle East as leading UAE property developer Aldar Properties PJSC completes a high-profile merger with Sorouh Real Estate PJSC, AMEinfo reports. They merge to become Aldar Properties, now Abu Dhabi’s largest listed real estate developer at a tune of over $12 billion in combined assets and one of the largest real estate companies in the Middle East and North Africa region. Managing partner of Allen & Overy’s Abu Dhabi office, Ibrahim Mubaydeen, led the A&O team supported by corporate partner Nick Stuart, in what Mr Mubaydeen termed ‘a landmark transaction for the real estate market.’ The Abu Dhabi government is expected to be a key client for the new merger.
Australia: hail Victoria
The residential part of the former Amcor Paper mill site in Alphington has been sold to a consortium of the Glenvill Group, Coles and the Alpha Group to mark Victoria’s largest ever residential sale, Lawyers Weekly reports. The site will see a new mini suburb built to accommodate 3000 people, and has a developed value of about $1 billion. The $120 million transaction was led by Henry Kalus of Victoria-based Kalus Kenny Intelex for the Glenvill Group, Nathaniel Popelianski of Corrs acting for Amcor and Simone Menz and Emily Masters from King & Wood Mallesons for the Alpha Group.
France: Music City
Paris-based law firm Gide Loyrette Nouel acts on the very first bond financing of a French PPP as the Département des Hauts-de-Seine and the project company, Tempo - Île Séguin, begin a 30-year partnership contract to design, build and operate Music City on Seguin Island, west of Paris in Boulogne-Billancourt. Bouygues Bâtiment Île-de-France, Sodexo Group and investment fund InfraVia Projets (OFI Group) make up the project company Tempo - Île Séguin. The Music City will be used both for classical and modern music and consist of a 1100 seat auditorium, a 6000 capacity concert hall, recording facilities, rehearsal and training rooms, a business space, and catering and retail outlets, and will also be the residence of two music groups. Scheduled for completion in June 2016, the project is set to cost 170 million euros. Gide has two teams of lawyers responsible for advising the project company, one led by Thomas Courtel, and a second team for the operation of the Music City led by Bénédicte Mazel.
UK: Liverpool livings
DLA Piper is advising Liverpool Football Club alongside its in-house legal team as the club works with Liverpool City Council and Your Housing Group on plans for a regeneration of the area surrounding Liverpool FC’s Anfield Stadium, according to Legalweek. The £260 million project could see more than 550 new homes built, a 10,000 square-foot food hub, offices, a square, a hotel and a possible expansion to the Anfield stadium. UK head of construction and engineering Jim Pinsent is leading the DLA team on the deal along with Kate Creer, Mark Beardwood and Sarah Bell.
UK: council counselled
In another property deal, DLA Piper has advised Leeds County Council on its £138.5 million social housing project to regenerate the areas of Little London, Beeston Hill and Holbeck with 388 new council homes and 1200 others refurbished. This is not the first time that DLA Piper has advised Leeds County Council – the two have worked together on a number of PPP projects over the last ten years. Partner Robert Smith led the deal for DLA Piper, supported by Amy Bowers, Chris Baker and Paul Laverty from Leeds. Sharon Smith, Martin Bartlam and Chris Godwin from the London team were responsible for advising on the bond financing. The project will be implemented by Sustainable Communities 4 Leeds (sc4L).
UK: Fulham fulfilled
Fulham Football Club has been bought by Shahid Khan, the CEO of Flex-N-Gate Group and owner of Jacksonville Jaguars of the US National Football League (NFL), having been advised by global law firm Squire Sanders. Mr Khan is to assume complete ownership of the club, now debt-free. The advising team was led by corporate partner and member of the firm’s Sports Law Group, David Hull, who was supported by senior corporate associates Chris Watkinson and Jono Prosser. This is not the first high-profile football transaction that Squire Sanders have advised on, as Mr Hull and his team have been involved in the recent purchases of Manchester City, Aston Villa plc, Leicester City FC and Blackburn Rovers.