At the start of 2017, Conygar Investment Company plc enlisted the aid of a cross-sector team at Gowling WLG to advise it on its disposal of the Special Purposes Vehicles (SPVs) that owned its investment property portfolio to Regional Commercial Midco Limited (Regional).

Regional is the wholly owned subsidiary of Regional REIT Limited, who parted with approximately £130m for the investment property portfolio.

Corporate partner Nick Heather and tax partner Michael Murphy led on the deal, assisted by principal associate Amar Adatia and associate Vijan Ghedia. In real estate, partners Huw Roberts and Sarah Galvin, assisted by associate Natasha Brown, advised Conygar.

The complex restructuring required prior consent of Conygar’s shareholders, as well as the holders of the zero divided preference shares.