Baker & McKenzie, CMS and Taylor Wessing lead as Gherkin sold to Brazilian billionaire for £700m
Baker & McKenzie, CMS Cameron McKenna and Taylor Wessing took the lead advisory roles as Brazilian billionaire Joseph Safra completed his £700m purchase of London's iconic Gherkin building today.
November 10, 2014 at 11:10 AM
2 minute read
Baker & McKenzie, CMS Cameron McKenna and Taylor Wessing took the lead advisory roles as Brazilian billionaire Joseph Safra completed his £700m purchase the Gherkin building in London.
The building, officially known as 30 St Mary Axe, was constructed in 2004, and was bought up by a fund managed by Germany's IVG Immobilien and UK private equity group Evans Randall two years later.
However, after the buyers defaulted on money borrowed for the purchase, the landmark skyscraper fell into receivership in April and was put on the market by its receivers, a group which includes accounting giant Deloitte.
The Bakers team acting for Deloitte on corporate aspects of the deal was led by global financial restructuring and insolvency co-head Ian Jack with London-based partner Louise Webb. Teams from the firm's German and Luxembourg offices were also involved.
CMS Cameron McKenna partner James Miller and senior associate Sarah Allonby took on real estate work for Deloitte.
The Safra Group, the private investment vehicle controlled by Safra, was advised by Taylor Wessing, which fielded a team including real estate partner Paul Lawrence, corporate partner Ronald Graham and tax partner Rob Young.
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