Mishcon de Reya guides Cubus Lux back to AIM

Mishcon de Reya has advised new client Cubus Lux on its readmission to AIM and reverse takeover of two Croatian companies that own development land on Croatia's Olive Island Resort.

Mishcon de Reya came upon the instruction through corporate partner Joel Adler, who had worked with the leisure company before while a partner at previous firm Speechly Bircham.

Adler led the deal, assisted by senior corporate associates Karl Huckle and Clive Thomas and corporate associate Shika Thakrar.

The transaction involves two acquisitions with a total value of e27.45m (£20.73m), to be completed through a mixture of loan notes and consideration shares.

The 384,000 sq m Olive Island Resort on the Dalmatian coast will be developed into a major 431-unit village site and a 500-bedroom four-star hotel.

Cubus Lex has already acquired and built the fully operational Olive Island Marina in the vicinity.

The organisation is currently undergoing a transition from being a casino operator to a leisure and development company.

City Financial Associates acted as nominated advisor, while Ellis Stockbrokers and Lewis Charles Securities were joint brokers.