Clifford Chance is representing property developer the Sandpiper Group in the sale of five supermarkets to Waitrose in the Channel Islands.
Sandpiper is jointly owned by private equity houses Europa and Duke Street. The latter is a long-term client of Clifford Chance, which advised the house on its acquisition of Sandpiper in a public-to-private deal in August 2007.
Private equity lawyer Simon Tinkler was the lead partner on the deal, assisted by senior associate Andrew Jessop. Tinkler said: “We’ve advised Duke Street on two other transactions and earlier this week advised 3i on its sale of Inspectorate. Two fish don’t make a shoal, but I think this shows the resilience of private equity.
“It also shows that clients appreciate our long-term investment with them, and that - especially in a relatively tricky economic and transactional climate - there are huge benefits to working with a team with years of industry expertise.”
Channel Islands firm Carey Olsen provided local counsel for Sandpiper, with a team headed by partner Mike Jeffrey. He was supported by corporate partners Rosie Stott, James Willmott, Colin Dow and Jason Morgan, and property partners Chris Philpott and Will Whitehead.
Eversheds partner Aleen Gulvanessian led the team advising Waitrose. The deal is dependant on gaining approval from the Jersey Competition Regulatory Authority.