LG advises management team on Raven Audley Court sale
16 October 2008
LG, the business law firm, advised the management team of Raven Audley Court plc (Audley) in respect of the disposal of Audley to a newly formed subsidiary of the Moorfield Group, MREF II AC Holdings SARL, for £15 million.
Audley is actively involved in the development and management of independent living facilities for the elderly.
Senior corporate lawyer Karima Hudson led the LG team assisted by Sam Gray.
Karima said: "We are delighted to have acted for the management team of Audley in respect of this transaction which we consider will bring significant growth opportunities to Audley. The transaction had a very tight timescale but all parties worked incredibly hard to deliver the beginning of a strong relationship between Moorfield and Audley".
Nick Sanderson of the management team said: "This is a very exciting opportunity for Audley and leaves us in a very strong position to exploit this once in a lifetime buyer's market. A complex transaction was completed to programme under intense pressure and LG’s input was a vital ingredient in reaching a successful conclusion".
Law firm CMS Cameron McKenna acted for the Moorfield Group and Steptoe & Johnson LLP acted for Raven Mount plc.
Notes to editors:
- LG is a business law firm with a particular focus on entrepreneurial and growth market clients seeking to raise capital for their business ventures.
- Our corporate group provides premium quality advice on IPOs, secondary capital issues, takeovers, re-organisations, mergers & acquisitions and other corporate transactions.
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Karima Hudson
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