The Lawyer’s new China Elite report contains the most detailed research available on the PRC legal market and contains unparalleled insight into the country's leading law firms. They vary in size, practice focus and geographic coverage, but they all share one common quality – ambition... Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Washington DC’s Hogan & Hartson and Scotland’s Dundas & Wilson have worked together on a string of high-profile hotel deals, including the recent acquisition of the Savoy Hotel.
Hogan client Kingdom Hotel Investment Group (owned by HRH Prince Alwaleed bin Talal bin Abdulaziz Al Saud) and Bank of Scotland Joint Ventures (BoS), advised by Dundas, teamed up to buy the Savoy for more than £200m from a syndicate of investors fronted by Quinlan Private.
Dundas head of corporate Michael Polson said: “The teams are developing a very good working relationship.”
At the beginning of January, Kingdom and BoS set up a separate £800m joint venture with Nabarro Nathanson client Fairmont Hotels & Resorts aimed at acquiring a string of luxury hotels across the globe. The first successful acquisition was that of the Monte Carlo Grand Hotel in Monaco in January.
The Dundas team also advised BoS on the debt financing of the two deals. The bank has set up an integrated financing product providing debt and equity finance for the hotel deals. Polson and corporate associate Rushad Abadan led the Dundas team.
Hogan & Hartson’s London partners Dan Maccoby and Hywel Jones led the team advising Kingdom. Hogan has been global outside counsel for Prince Alwaleed since the mid-1980s. The Savoy deal follows Alwaleed’s acquisition of stakes in luxury hotel groups such as the Four Seasons, Fairmont and Mövenpick, as well as in hotels such as the George V in Paris and Geneva’s Hotel des Bergues.
Nabarro head of property Kevin Stimpson advised Fairmont, which will run the Savoy and the Monte Carlo Grand. Fairmont has a stake in the £800m acquisition joint venture, but not in The Savoy.
Irish firm A&L Goodbody advised the vendor of the Savoy, long-term client Quinlan Private. Former A&L Goodbody partner Eileen Kelleher of Allen & Overy advised Quinlan on UK law issues.