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‘Tailored advice’ in Guernsey key to global investment firm’s acquisition and TISE listing

24 June 2021

Guernsey’s expertise in providing bespoke advice was cited in the acquisition by an affiliate of global private investment firm Starwood Capital Group of the remaining share capital of RDI REIT PLC.

The transaction, which is worth approximately £467.9 million, gives Starwood-controlled affiliates 100% ownership of RDI REIT after a c.30% stake was acquired in the property investment business from South African investor Redefine in July last year.

The corporate team of Carey Olsen in Guernsey advised Starwood on the Guernsey legal and regulatory aspects relating to the establishment of the acquisition structure, the financing of the transaction and the listing of RDI REIT on The International Stock Exchange (headquartered in Guernsey), following which RDI REIT de-listed from both the London Stock Exchange and Johannesburg Stock Exchange.

Carey Olsen Partner Ben Morgan, who led the team, said: "Having advised Starwood for a number of years, we are delighted to have guided the firm through the successful conclusion of its latest purchase and subsequent listing of RDI REIT on The International Stock Exchange.

“It was a transaction which showed the depth and breadth of expertise present in our Guernsey corporate team with tailored advice needed across the various structuring, financing and listing aspects associated with the acquisition."

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