19 Mar 2013 | 01:37 pm |
International law firm Pinsent Masons has advised the management team of CALA Group on its management buy-out which will see senior board members take a seven per cent share in the housing company.
The deal follows Legal & General and Patron Capital Partners' £210m acquisition of the company from Lloyds Banking Group which will see both companies take a 46.5 per cent share.
Pinsent Masons Corporate Partners, Alan Farkas and Ed Stead, led a team of cross-discipline lawyers advising CALA Group which included Corporate Associate Alex Burton.
Alan Farkas says:
"CALA Homes is a longstanding client of legacy firm McGrigors which merged with Pinsent Masons in May 2012. As a significant client of the firm's Scottish property team, the firm had built exceptionally strong ties over a number of years and we were delighted with the opportunity so soon after the merger to assist CALA with this key deal . This deal is a genuine merger success story for us, demonstrating the combined firm's ability to assist key clients and further develop on existing client relationships.
"We are delighted to have further developed our relationship with CALA from a corporate perspective."
The firm has recently advised CALA on a number of key strategic property matters including the acquisition of an option to acquire a 550 unit development in Milltimber, Aberdeen , the contract to acquire a 800+ unit development at Craibstone Campus on the outskirts of Aberdeen and the and phased acquisition of an 82-unit development at Trinity Park House in Edinburgh.
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There was a 10% rise in the average prison sentence length for tax evasion last year jumping to 2 years 7 months*, up from 2 years 5 months, says Pinsent Masons, the international law firm.
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