As fellow members of TAGLaw, DQ Advocates (Isle of Man - TAGLaw) and Boodle Hatfield LLP (London, England - TAGLaw) were pleased to collaborate with each other to deliver a successful cross border project for their mutual client, London based PE firm Millemont Capital Partners.
DQ Advocates acted as local counsel, with Boodle Hatfield LLP as instructing counsel, advising on the acquisition and financing of Marlow Star Limited and Reading Star Limited and their UK operating companies Meridian Marlow Ltd and Meridian Reading Ltd (collectively, the target companies).
DQ advised on the Isle of Man aspects of the acquisition of the Crowne Plaza Marlow Hotel and the Crowne Plaza Reading Hotel (both operating under the globally recognised Crowne Plaza brand) including due diligence, the release of existing security, issuance and registration of new security and providing pre-completion legal opinions.
Boodle Hatfield led on the acquisition of the four companies, advising on the negotiation of the underlying English law transaction documents.
The hotels are high-quality, full-service hotels totalling approximately 350 keys in the heart of the Thames Valley and have a value in the region of £80m.
DQ was represented on the transaction by Mark Dougherty, Managing Director, assisted by Esme Scott, Associate in the Corporate Department.
The Boodle Hatfield Corporate team team was represented by Fred Clark and Rahul Thakrar, Partners, assisted by Ruby Dyce, Associate.
