Law firm CMS advises on £1.6bn worth of deals

X The Business Desk

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The Manchester corporate team of CMS has capped off a successful last 12 months after advising on deals worth more than £1bn.

The team, based in No 1 The Avenue, Spinningfields, acted for London Stock Exchange listed RDI REIT PLC on its £468m takeover offer by Starwood Capital, the US private equity fund, which closed last week.

This takes CMS corporate to over £1.6bn of deals completed in the last year, including acting for Bibby Line Group on the sale of Costcutter Supermarkets Group and Manchester Airports Group on the £340m+ disposal of its non-core portfolio of assets at Manchester, Stansted and East Midlands Airports.

The firm also acted for WSP UK on the sale of its UK parking enforcement software business Taranto and Worldline, the largest European operator in payment services, on the sale of certain of its Payone payments business.

Head of Corporate, Howard Gill, said it had been a another “strong year” for the Manchester corporate team.

“Despite the difficult circumstances our clients have faced over the last year or so, they have remained resilient and determined as ever to get on with business.

“This has been reflected in the deals we have completed for key clients such as Bibby Line Group, MAG, WSP and RDI REIT PLC.

“And the pipeline is also looking strong, which is hopefully a good sign that the UK corporate bounce back is well under way.”