Olswang advises Capital & Regional on Mall Fund acquisition and related fundraising

This article was produced by Olswang LLP, which joined with CMS on 1 May 2017.

International law firm Olswang has advised Capital & Regional, the Main Market listed specialist retail property company, on its recent acquisition of further units in the Mall Fund, the UK dominant community shopping centre fund, for approximately £213 million.

The acquisition, which constituted a reverse takeover under the Listing Rules, will increase the Capital & Regional group's ownership interest in the Mall Fund to 91.82 per cent.

Olswang also advised Capital & Regional on its related capital raising carried out by way of an underwritten firm placing, placing and open offer to raise approximately £165 million and on the extension of its existing revolving credit facility with the Lloyds Banking Group.

Hugh Scott-Barrett, Chief Executive of Capital & Regional commented: "We have had a long-standing relationship with Olswang. Their team was on hand to guide us through this transformational transactional for our company and we are delighted with the outcome. We look forward to continuing our partnership with Olswang as we deliver our business plan in connection with the Mall Fund."

The Olswang team was led by Corporate Partners Stephen Hermer, Rob Willis and David Bunker, who were supported by Ken Wilkinson, Poppy Weston-Davies, Katharine Alexander and Marian Ang (Corporate), Mark Joscelyne and Jacob Gilkes (Tax), Ruth Marken and Laura Taylor (Finance) and Tim Westhead, Matthew Speed, Alan Karsberg, Carol Griffin, Benjamin Shore, Helen Balliger, James Norton and Stephen Baker (Real Estate).

Numis and J.P. Morgan Cazenove acted as joint sponsors, brokers and bookrunners to Capital & Regional.

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We have had a long-standing relationship with Olswang. Their team was on hand to guide us through this transformational transactional for our company and we are delighted with the outcome.

– Hugh Scott-Barrett, Chief Executive of Capital & Regional