SJB, Norton Rose dine out on restaurant sale
SJ Berwin and Norton Rose have taken the lead roles on the $60m (£30.5m) sale of two exclusive restaurants to Tasameem, the property arm of the Abu Dhabi Investment Authority. Michelin-starred Chinese restaurant owner Alan Yau was advised by SJ Berwin on the sale of the Yauatcha and Hakkasan restaurants, with corporate finance chief Steven Davies leading the team.
January 11, 2008 at 09:03 AM
2 minute read
SJ Berwin and Norton Rose have taken the lead roles on the $60m (£30.5m) sale of two exclusive restaurants to Tasameem, the property arm of the Abu Dhabi Investment Authority.
Michelin-starred Chinese restaurant owner Alan Yau was advised by SJ Berwin on the sale of the Yauatcha and Hakkasan restaurants, with corporate finance chief Steven Davies leading the team.
Davies has advised Yau, who founded the Wagamama chain of Japanese restaurants in 1992, for a number of years. The SJ Berwin team also included corporate partner Perry Yam and associate Scott Gibson.
Norton Rose advised Tasameem, with corporate finance partner Simon Sackman leading a team that also included associates Frieda Levycky and Rhys Williams.
The acquisition marks the first move into the London market by Tasameem.
Commenting on the deal, Davies said: "There is definitely an appetite for restaurant assets and that trend looks set to continue."
Since October last year SJ Berwin has been advising Lion Capital on the sale of Wagamama, which it bought in 2005 from rival private equity group Graphite.
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