LG helps Regent Inns add 'third arm' to leisure portfolio
22 August 2006
Regent Inns buys £26m 'Old Orleans' chain from Punch Taverns
LG, the London-based law firm, has advised Regent Inns plc on its £26m purchase of the 'Old Orleans' chain of restaurant/bar outlets from Punch Taverns, Britain's largest pub group.
The 31-strong chain represents a significant addition to Regent Inns' hospitality and leisure portfolio, which includes the 'Walkabout' chain and 'Jongleurs' comedy clubs. The purchase follows from an auction process which commenced in May 2006.
LG corporate partner Jeffrey Elway led the team advising Regent Inns, alongside real estate partner Andrew Wade who oversaw the property aspects of the deal.
Jeffrey Elway commented: "The Old Orleans chain is a complementary addition to Regent Inns' strong and growing leisure sector portfolio. We are delighted to be helping them with this strategic opportunity and with taking forward the Board's vision of revitalising the brand."
Hill Brown advised Regent Inns on Scottish law. Punch Taverns were advised by Clifford Chance LLP (corporate law), TLT Solicitors (real estate law) and Burness Solicitors (Scottish law).
Notes to editors
- Lawrence Graham LLP is a leading London-based corporate and real estate law firm with over 270 lawyers.
- Lawrence Graham LLP is particularly focused on the business opportunities and risks facing its clients in the hospitality and leisure sector, drawing from expertise across its capital raising, risk & regulation and real estate services.
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