CMS and Foot Anstey lead on £19m Kuwaiti purchase of Bristol site

CMS Cameron McKenna, Foot Anstey, Norton Rose and Wragge & Co advised on Kuwaiti investor Dimah Capital’s £19m acquisition of Everything Everywhere’s Bristol office.

Imam Qazi
Imam Qazi

Everything Everywhere, Britain’s biggest mobile operator, is a longstanding tenant of the Bristol office block, which is owned by IVG Institutional Funds. IVG is understood to have turned to CMS on the sale, with Foot Anstey and Wragges advising Dimah.

Bristol-based Foot Anstey Islamic finance partner Imam Qazi led a specialist Islamic finance, banking and private equity team for the Kuwait-based investment company, with Wragges real estate associate Michael Twining advising the buyer on property aspects of the sale.

Meanwhile, Norton Rose advised ABC International Bank, which financed the transaction for Dimah. Dubai-based banking partner Mohammed Paracha took the lead. Paracha has previously been the sole legal member of the Bank of England’s committee on Islamic finance.

Background to this deal:

Dimah is a new client for Foot Anstey after the firm came across the investment group on previous Islamic finance transactions. IVG is a longstanding client to CMS, which has previously advised it on its acquisition of 60 London Wall, ING Barings’ London headquarters.

The deal comes after South West firm Foot Anstey opened in Bristol in 2011 to add to its existing bases in Exeter, Plymouth, Taunton and Truro (2 August 2011).