Kirkland & Ellis is advising Gemini Jersey JV L.P., a bidco formed by the consortium of Scape Living and iQSA, and Blackstone, on the consortium's £969 million recommended cash offer for GCP Student Living plc. The consortium is supported by funds managed or advised by their respective primary shareholders, being funds managed by APG Asset Management N.V. and Blackstone.
In connection with the Acquisition, Scape Living and iQ have entered into a separation agreement pursuant to which, as soon as possible following the effective date, it is intended that the GCP group be broken up and assets transferred to Scape Living and iQ (or their respective affiliates) respectively.
GCP Student is a FTSE 250 Real Estate Investment Trust (REIT) and the first UK student accommodation REIT listed on the LSE. It focuses primarily on investing in large scale student accommodation assets in and around London.
Read the London Stock Exchange announcement
The Kirkland team was led by M&A partners Michael Steele, Francesca Harris and Dipak Bhundia and associates Irfan Ahmed, Holly Donovan, Charles Hebert and Melissa Sawyer, technology & IP transactions partner Emma Flett and associates Jessica Dye and Ben Zeris, tax partner Tim Lowe and regulatory partners Lisa Cawley and Colin Sharpsmith.