Ashurst is advising Electra Investment Trust and investment manager Electra Partners Europe in relation to the $285m (£161.4m) sale of Inchcape Shipping Services (ISS) to Istithmar. Istithmar is a major investment house based in the United Arab Emirates focusing on private equity and alternative investments. ISS is the largest independently managed network of shipagents in the world. The Ashurst team is being led by corporate partner Charlie Geffen with the help of senior corporate associate Gavin Gordon. Brussels partner Mats Johnsson advised on regulatory matters. Linklaters corporate partner Roger Barron is acting for Istithmar.
LeBoeuf leads Basell on Shell subsidiary buyout
LeBoeuf Lamb Greene & MacRae has advised new petrochemicals client Basell on the purchase of a 50 per cent stake in a French Shell Chemicals subsidiary. Royal Dutch Shell used panel member Allen & Overy for advice on the sale of Société du Craqueur de l'Aubette, which Basell now owns outright. LeBoeuf Paris corporate partner Stephen Walters led on the deal.
DAC handles record UK commonhold property deal
Davies Arnold Cooper advised Crest Nicholson on the biggest commonhold property scheme to date in the UK. Partner Chris Baker led the property elements of the £500m deal, which will see the development of a 64-hectare site in Milton Keynes, with 2,000 new homes, a retail centre and new schools. Trowers & Hamlins acted for the site's social landlord Hyde Housing Association. Denton Wilde Sapte advised landowner English Partnerships.