Firm News
Mishcon de Reya advises on sale of Refined and Malthurst groups for £167 million
| Release Date: |
19 November 2007 |
Mishcon de Reya has advised the selling shareholders, including a joint venture between the William Pears Group and the Winston Group, as well as certain shareholders of the Malthurst UK Group on the £167 million disposal sale of Refined Holdings Limited, Refined Petroleum Limited, Refined Estates Limited and Malthurst (UK) Limited to MRH (GB) Limited.
Head of corporate commercial department, Richard Tyler with assistance from senior assistant, Elliott Wiseman led the corporate share sales for the sellers which involved a combination of cash and equity.
Lead real estate partner Kevin Gillon, assisted by partner Mark Baker and a team of property assistants dealt with the transfer and refinancing with HSBC of the portfolio of over 100 petrol filling stations.
Steven Sharpe, MD of the Winston Group, said: 'We were delighted to work with the Mishcon de Reya corporate and property teams who once again provided an excellent service in concluding another successful transaction for us in what was a short time frame of 6 weeks from start to finish.'
Mishcon de Reya partners Kevin Gillon and Richard Tyler comment:
“This represents a further milestone in our longstanding relationship with the vendor companies, with whom we have worked closely since the formation of the Refined group, a joint venture between the William Pears Group and the Winston Group, 5 years ago. It is the latest in a string of transactions in pursuit of their strategy of profitable growth, on which we have worked together and which have included the 2004 acquisition of Kuwait Petroleum (G.B) Limited from Kuwait Petroleum (U.K) Holdings and the acquisition of 60 service stations from Texaco Limited in 2005. Longstanding client the Winston Group and their participating shareholders were central to introducing the Firm to the Refined group at its inception, which has resulted in ongoing work for the Firm from all parties involved”.