Addleshaws, Eversheds see 3i through its sale of Encon
Addleshaw Goddard and Eversheds have scooped a joint instruction from private equity house 3i on its sale of Encon to Wolseley UK. Addleshaws has a longstanding relationship with 3i. Encon, a Yorkshire-based construction and building materials company, was sold to Wolseley for £140m. Addleshaws’ team was led by Leeds-based partner Yunus Seedat and assisted by Nicky Higginbottom, Susie Siddall and Eva Beattie. Burges Salmon, led by Rupert Weston, advised Wolseley.
Linklaters secures targetflow Centre Point Investment
Linklaters has advised Targetfollow Group on the acquisition of Centre Point in London’s West End and adjacent property on St Giles High Street for £85m. Targetfollow has retained Linklaters in connection with litigation matters, but is a new client to the real estate department. The Linklaters team was led by partner Anne Byrne and Kirsty Corkum. Paul Gilks of Glovers acted for Targetfollow on the financing. The acquisition was made pursuant to financing provided by Bank of Scotland, advised by McGrigors. The seller, The Blackmoor, was advised by DLA Piper Rudnick Gray Cary.
GMAC-RFC instructs Taylor Wessing on loan portfolio sale
Taylor Wessing has advised mortgage lender GMAC-RFC on the sale of a portfolio of loans totalling around £460m. GMAC-RFC is a wholly-owned subsidiary of Residential Capital Corporation, which is in turn an indirect, wholly-owned subsidiary of General Motors Acceptance Corporation. Taylor Wessing advised on the sale of the loan portfolio to Mortgage Agency Services Number Four, a subsidiary of Britannia Building Society. Taylor Wessing finance partner Peter Shepherd led the team advising on the deal, which consisted of Andrew Seager, David Gilham and Jonathan Marks. Allen & Overy advised the purchaser.