Kirkland & Ellis is advising Brighton Bidco Limited (“Bidco”), owned indirectly by investment funds advised by Blackstone, on the recommended cash offer for the entire issued, and to be issued, ordinary share capital of St. Modwen. It is intended that the acquisition will be implemented by way of a scheme of arrangement. The acquisition values St. Modwen's issued, and to be issued, ordinary share capital at approximately £1,237 million.
St. Modwen is a UK-based real estate developer and investor and a constituent of the FTSE 250. Established in 1966 and headquartered in Longbridge, Birmingham, St. Modwen operates across three specialist divisions: St. Modwen Logistics, St. Modwen Homes and Strategic Land & Regeneration. The Company is active across England and South Wales with a portfolio totalling £1.37bn as at 30 November 2020.
Read the St. Modwen press release
The Kirkland team was led by corporate partners Michael Steele and Dipak Bhundia and associates Holly Donovan, Charles Hebert and Rebecca Pearce and technology & IP transactions associate Jessica Dye.