Leading offshore law firm, Mourant Ozannes, has advised BlackRock and Deutsche Bank’s RREEF on the scheme to merge the BlackRock UK Property Fund with three of RREEF’s sector-specific property funds. The scheme, which completed on 14 December, creates one of the largest property unit trusts in the UK.
Mourant Ozannes Jersey Managing Partner, Daniel Birtwistle worked alongside Hogan Lovells and William Fry advising BlackRock, the world’s largest money manager, in the transaction.
Daniel commented: “We have acted for BlackRock for a number of years and are very pleased to have been involved in such an important scheme. Mourant Ozannes dominates the offshore funds sector and the ability of the firm to advise both sides of this transaction reinforces its market leading position and reputation in this field.”
Acting for RREEF, Mourant Ozannes Partner, Joel Hernandez, worked alongside Herbert Smith Freehills, Dillon Eustace, CMS Cameron McKenna and Field Fisher Waterhouse.
Commenting on the scheme, Joel said:
“This transaction involved the merger of four Jersey regulated certified funds and gave rise to some complex challenges. The overwhelming support of the RREEF unit holders meant we were able to complete the deal and realise the scheme’s benefits. This is a stand out deal and one that we are extremely pleased to be involved in.”
Category: Finance & Business