Corporate deals round-up

Field Fisher Waterhouse (Jon Fife) advised the Whitbread Hotel Company on the £57m sale of 13 of its Swallow Hotels to property investor Leo Noé. Companies within Leo Noé’s Reit Group acquired the hotels for £52m and leased the properties to Maycastle, which has paid £5m for the hotel operating business and the Swallow name. Kanter Jules (Simon Kanter, Jeremy Kanter) advised the Reit Group, while Maycastle was advised in-house.

Mayer Brown Rowe & Maw (Stephanie Bates) advised Sir Stanley Clarke and Northern Racing on its reverse takeover of AIM-listed company Chepstow Racecourse. The transaction involved the simultaneous acquisition of the shares of St Modwen Properties and Sir Stanley Clarke in Northern Racing in consideration for new shares in Chepstow. Chepstow was advised by Edwards Geldard, while Wragge & Co advised St Modwen.

Reynolds Porter Chamberlain (Chris Newsholme) advised Yeoman Group, the AIM-listed navigation company, on the £2.7m sale of its marine instrumentation subsidiary Brookes & Gatehouse to Kongsberg of Norway.

Ashurst Morris Crisp is acting for P&O on the proposed acquisition of part of P&O’s Irish Sea ferry service by Stena. The deal is subject to a Competition Commission probe later in the year. Under the deal, Stena would acquire part of P&O’s ferry operations on the Irish Sea and would transfer its Stranraer Port operations to P&O’s port in Cairnryan. Norton Rose (Mauro Mattiuzzo) advised Stena.

Travers Smith Braithwaite is advising the management team on the £1.5bn management buyout of mobile satellite communications company Inmarsat Ventures. The company recommended a bid made by a private equity consortium made up of Apax and Permira. Clifford Chance is advising Apax and Permira, while Freshfields Bruckhaus Deringer is acting for the company.