Pinsent Masons has advised Redefine International plc on its £106 mln. (approx. 126 mln.) conditional acquisition of five Holiday Inn hotels from the Splendid Hotels Group.
Redefine International plc is an AIM-listed company with a market capitalization of approximately £158 mln. The acquisition is to be effected through subsidiary Redefine Hotel Holdings Limited.
The Pinsent Masons' team was led by corporate partner Howard Gill, and included banking partner William Oliver, corporate senior associate Hannah Brader, and property senior associates Michelle Beaumont and Susan Samuel.
CEO of Redefine's Hotels Group Helder Pereira commented: "This was a highly complex deal and required extensive specialist experience in the hotel sector. The Pinsent Masons team brought together this experience, with expertise in all the legal specialisms we needed. Once again the Pinsent Masons team delivered an excellent result for us on this key strategic deal for the group."
Fladgates LLP acted for the seller.
Source: MJ2 Limited