Travers Smith has advised Panmure Gordon (UK) Limited (as Sponsor, Joint Financial Adviser and Joint Broker) and Numis Securities Limited (as Joint Financial Adviser and Joint Broker) in relation to the acquisition of The Gyle Shopping Centre in Edinburgh by the UK focused REIT Capital & Regional plc for a total acquisition consideration of £40m.
The consideration for the acquisition is to be financed through existing funds held by Capital & Regional plc, a new debt facility of £16m and the approximately £25m of gross proceeds to be received pursuant to a fully underwritten Open Offer. The acquisition is in line with the Capital & Regional plc's ambition of seeking selective opportunities to grow the company and further utilise its leading management expertise in delivering its tried and tested community centre strategy.
The Travers Smith team on this transaction was led by Corporate Partner Richard Spedding, and included Senior Associate James Addison, Associates Samanzahra Shabbir and Sylvia Mueller, and Trainee Gloria Cuccu.