The sale involved the indirect disposal of 44 properties for a sale consideration of GBP242,131,492. Completion of the sale occurred on 26 November 2021.
Appleby have been advising ALPL since 2020 when Appleby acted in the take private of ALPL by way of a members’ scheme of arrangement under Jersey company law.
With Andrew Weaver, Corporate Practice Group Head in Jersey, the global Appleby team was led by counsel Kevin McQuillan assisted by trainee Angharad Prescott. Partner Garry Manley and senior associate Melissa Wong and associate Kimberley Sorbie advised in Isle of Man and partner Stuart Tyler and associate Damian De Klerk advised in Guernsey.
Speaking on the transaction Appleby counsel, Kevin McQuillan commented: “We have enjoyed working with the Atlantic Leaf team over the last 18 months and are very pleased to assist on this latest significant transaction for the company. The transaction was, at times, extremely fast moving and we were very pleased to bring to bear our unique Crown Dependency offering to assist Atlantic Leaf in getting this matter to completion.”
Mark Pryce, Finance Director and Executive Director at ALPL noted: “The Appleby team have been with us every step of the way on this very important transaction. The team were always available and across all of the issues that arose on the transaction, put simply, they were superb and we look forward to continuing to work with Appleby in the years to come.”
Appleby’s Merger and Acquisitions (M&A) team is well-positioned to swiftly advise clients on a wide range of M&A activities in the offshore region. Its unique jurisdictional reach means that Appleby is able to advise clients on complex, cross-border transactions involving the offshore jurisdictions that are most often encountered. The team regularly work with FTSE 100 and Fortune 500 companies around the globe and those with financial interests in them, to help them deploy strategic growth and restructuring initiatives, whether involving single jurisdictions or complex multi-jurisdictional, multi-disciplinary transactions.