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Freshfields advises Pandox on its acquisition of The Midland Hotel in Manchester

Freshfields Bruckhaus Deringer LLP (‘Freshfields’) is advising Swedish hotelier Pandox AB (‘Pandox’) on its acquisition of The Midland Hotel, Manchester, in a transaction valued at approximately £115 million.

The deal will involve the sale of The Midland’s trade and business assets to Pandox’s hotel operating partner, the Fattal Hotels Group (‘Fattal’), while Pandox will retain the freehold interest in The Midland Hotel property. 

Fattal will operate the historic four star hotel through its ‘Leonardo’ Hotels brand under a long-term revenue-based lease agreement. 

The transaction was signed on 12 October 2018 and is expected to complete in the fourth quarter of 2018. 

This transaction follows on from Pandox’s acquisition and financing of the Jurys Inn hotel portfolio - the biggest European hotel portfolio acquisition in 2017 -   and on the subsequent acquisition of the Radisson Blu in Glasgow, due to complete in the fourth quarter of 2018. Freshfields advised Pandox on both deals.

The Freshfields team is led by partners Victoria Hills and Patrick Ko and includes partners Max Lang who is advising on the financing arrangements and Jill Gatehouse who is advising on tax matters.

ENDS

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About Freshfields Bruckhaus Deringer LLP

Freshfields Bruckhaus Deringer LLP is a global law firm with a long-standing track record of successfully supporting the world's leading national and multinational corporations, financial institutions and governments on ground-breaking and business-critical mandates. Our 2,800 plus lawyers deliver results worldwide through our own offices and alongside leading local firms.  Our commitment, local and multi-national expertise and business know-how means our clients rely on us when it matters most.
 

The Freshfields team was led by: