Collas Crill has acted as Guernsey and Jersey counsel to Royal Bank of Scotland International, trading as NatWest International, in relation to the bank's provision of £45 million of term and revolving credit facilities to Blue Diamond.
The facilities are being provided to assist with the purchase of eight of the largest Wyevale Garden Centres across the UK from Guernsey-based Guy Hands' Terra Firma for £34.25 million plus stock.
Collas Crill's Guernsey banking team – Partner Sean Cheong and Senior Associate Alex Wickens – prepared and negotiated the primary finance documents and advised the bank generally in respect of the transaction, which involved security in the UK, Guernsey and Jersey.
Collas Crill's UK real estate team – Group Partner Michael Morris and Senior Associate Donald Millar – advised the bank on the property and security aspects of the transaction. They also advised the bank generally in respect of the acquisition of the garden centres.
Partners Jason Green and Paul Nettleship from the firm's Guernsey property team, and Partner Martin Le Boutillier from the Jersey property team, rounded out the bank's security package by overseeing the preparation and registration of Jersey and Guernsey security over certain group properties in favour of the bank.
Blue Diamond dates back to 1904, when it was the Fruit Export Company operating from and out of Guernsey. Blue Diamond continues to be owned and managed locally, and will have a portfolio of 29 garden centres across the UK and Channel Islands following the completion of the purchase.
Other firms involved in this transaction include Bristows and Carey Olsen as Blue Diamond's English, Guernsey and Jersey counsel, with Addleshaw Goddard acting for the seller.