Appleby acted as lead counsel to Euronext Brussels and Euronext Amsterdam listed Aedifica NV (Aedifica) on its acquisition of a portfolio of 4 nursing homes in Jersey and 1 nursing home in the Isle of Man. Aedifica has purchased the portfolio for £46 million and will in addition invest a further £12 million in extensions and internal redevelopment works on 3 of the 5 nursing homes.
Aedifica is a Regulated Real Estate Company under Belgian law specialising in European healthcare real estate, particularly in senior housing. Aedifica has developed a portfolio of over 600 sites in Belgium, the United Kingdom (including the Crown Dependencies of Jersey and Isle of Man), Germany, the Netherlands, Finland, Sweden, Ireland and Spain, worth more than €5 billion.
The Appleby corporate team consisted of Partner Andrew Weaver, Group Partners Kevin McQuillan and Christophe Kalinauckas, Associate Khanyisile Deliwe and Trainee Angharad Prescott. Group Partner John Bisson advised Aedifica on the property elements of the transaction.
Speaking on the transaction Appleby Partner, Andrew Weaver commented:
“We were very pleased to support Aedifica on their entry into the care home market in the Crown Dependencies and to co-ordinate across corporate and real estate teams and across Jersey and the Isle of Man. This was a complex transaction, with a lot of moving parts and changing dynamics. As well as delivering first class legal advice, we were able to perform a responsive and comprehensive transaction management role to deliver a commercially successful outcome for Aedifica.”
Sven Bogaerts Chief Legal and M&A Officer for Aedifica, noted: “We are delighted to close out this transaction which marks the end of an intense period of engagement for the Aedifica deal team. The Appleby team have been superb on this transaction. In addition to always being available they were across all of the legal issues that arose, always available to talk us through the process and generally they provided a truly first-class service.”
Appleby’s Mergers and Acquisitions team regularly works with FTSE 100 and Fortune 500 companies around the globe to help them deploy strategic growth and restructuring initiatives, whether involving single jurisdictions or complex multi-jurisdictional, multi-disciplinary transactions. They actively monitor M&A trends through their half-yearly Offshore-i report and their unique global presence means that they are able to advise clients on complex, cross-border transactions involving the offshore jurisdictions.