Linklaters and Herbert Smith Freehills bag roles on £3.4bn deal for Trafford Centre owner Intu

 

Linklaters, Herbert Smith Freehills (HSF) and Travers Smith are advising on the proposed £3.4bn acquisition of shopping centre owner Intu by rival Hammerson.

Hammerson, which owns London’s Brent Cross and the Birmingham Bullring shopping centre, has made the offer to the owner of Manchester’s Trafford Centre, Intu. The deal would create a £21bn pan-European retail and leisure portfolio.

HSF is advising longstanding client Hammerson with corporate partners Alex Kay and Caroline Rae in the lead. They are being supported by corporate consultant David Paterson and antitrust partner Susan Black.

Kay advised Hammerson on its joint venture with Allianz Real Estate Germany in 2015 to acquire a portfolio of loans for €1.85bn (£1.63bn).

Linklaters is advising Intu on the deal with corporate partners William Buckley and Iain Wagstaff leading. The magic circle firm advised on the £1.3bn refinancing of four major UK shopping centres owned by Intu in 2015. In 2010, Buckley led a team advising Intu on its purchase of the Trafford Centre in Manchester for £1.65bn.

Travers Smith is advising Intu’s largest shareholder, Peel group, on the financing of the proposed deal with a team including corporate partner Anthony Foster.

Foster also advised Peel on Intu’s purchase of the Trafford Centre, which at the time was one of the largest single asset real estate M&A deals to be carried out on the UK.