Michelmores has advised Berry Properties Limited on its £22.5m refinancing arising out of its acquisition five years ago of InterContinental’s Hotels Group (IHG) worldwide headquarters working alongside Bayerische Landes Bank (BLB) as lead agent provided the refinancing.
IHG is a multinational hospitality company headquartered in Denham, Buckinghamshire which own over 5,000 hotels across nearly 100 countries.
Philip Newhouse, Partner in the Michelmore’s Corporate team who led the deal commented:
”This is a classic example of our Private Wealth initiative. Berry is owned by a Saudi individual and the deal involved jurisdictions including England and Wales, Jersey, British Virgin Islands and Lebanon. The time schedule was very tight as the rescheduling was vital for the continued operation of Berry.”
Working alongside Philip was Senior Associate, Anna Thompson and Trainee Solicitor, Abbey Smith. Addleshaw Goddard in London, Bedell Cristin in Jersey and the British Virgin Islands acted for BLB. Michelmores instructed Mourant in Jersey and Harneys in the British Virgin Islands.