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Mourant Ozannes' Guernsey corporate team has advised Johannesburg Stock Exchange listed Growthpoint Properties Limited (Growthpoint) on its strategic investment in AIM-listed Globalworth Real Estate Investments Limited (Globalworth), resulting in Growthpoint taking a circa 27% holding positon in Globalworth. Growthpoint is South Africa's leading REIT and a highly-respected international real estate investor.
Globalworth issued shares at a premium to Growthpoint and Oak Hill Advisors (Europe) LLP to raise a total of €200 million. The transaction completed on 20 December 2016.
The Mourant Ozannes team was led by partner Helen Wyatt and included senior associate Alex Davies who advised on the Guernsey aspects of the investment, alongside UK counsel Simmons & Simmons and South African counsel Glyn Marais.
Commenting on the transaction, Helen said: "This was an interesting and unique transaction due to the size of the investment, the number of jurisdictions involved and the complexities of dealing with the Takeover Panel regarding the ultimate interest taken in Globalworth. We are proud to have been part of Growthpoint's leading team of experts, able to get the transaction across the line."
The Growthpoint transaction follows closely on the heels of the successful £130 million placement on which Mourant Ozannes advised long-standing client LSE listed LondonMetric Property plc in late 2016.
