Carey Olsen advises Starwood on REIT purchase

Posted: 09/06/2021

Lawyers from Carey Olsen's corporate team in Guernsey have advised global private investment firm Starwood Capital Group on the acquisition by a Starwood-controlled affiliate of the remaining share capital of RDI REIT PLC for around £467.9m.
 
The transaction gives Starwood-controlled affiliates 100% ownership of RDI REIT after a stake of about 30% was acquired in the property investment business from South African investor Redefine in July last year.
 
As part of the acquisition, Carey Olsen advised Starwood on the listing of RDI REIT on The International Stock Exchange (TISE), after which RDI REIT delisted from the London Stock Exchange and Johannesburg Stock Exchange.
 
Working alongside onshore counsel Kirkland & Ellis, Carey Olsen advised Starwood on the Guernsey legal and regulatory aspects relating to the establishment of the acquisition structure, the financing of the transactions, and RDI REIT's subsequent listing on TISE. 

The team was led by Partner Ben Morgan, with assistance from Associate Rachel de la Haye, Senior Associate Imogen Payne and Paralegal Kim Courtney (acquisition and structuring); Senior Associate Vaishali Gupta and Associate Olivia Hamilton-Russell (financing); and Associate Lisa Bailey and Listings and Company Formations Assistant Kate Everitt (TISE listing).


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