Deals round-up: Squire Sanders; Pannone

THE Manchester office of international law firm Squire Sanders have acted on a significant property and funding deal ahead of the London Olympics.

A team led by Chris Eddlestone, head of the firm’s National Hospitality & Leisure Industry group, have secured £3m funding and a lease for the London Pleasure Gardens Limited.

London Pleasure Gardens  is creating a cultural hub in East London which is the site of the Last Olympic Mile. The once-derelict site is set to support the cultural legacy of the games.

The Squire Sanders team also included senior sssociate Jonathan Brooke and lawyers from the commercial, banking, corporate, licensing and property departments.

The Pleasure Gardens will become a multi-functional venue with a 60,000sq metre waterside leisure park featuring both year-round attractions and seasonal spectaculars on the site of Pontoon Dock.

It will comprise elements like a concert stage, floating hotel, restaurant and cocktail bar, a riverside terrace and landscaped walkways and wild gardens.

Mr Eddlestone said, “Now that we’ve secured the funding and lease for the site, our client’s innovative plans can now be turned into reality”.

“It is exciting for us to have been so closely involved in a project that will help to put culture at the core of the Olympics. We firmly believe that our client will go on to fulfill their ambition to create a world class business and leisure destination.”

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MANCHESTER law firm Pannone has advised long-standing client Air Energi on its latest acquisition in the Far East.

The Manchester company, owned by Palatine Private Equity, has acquired the technical consulting and professional manpower division of oil services company Satoil, which is based in the Indonesian capital, Jakarta.

It made the acquisition through its Indonesian subsidiary, Air Energy Consulting. Mark Winthorpe, senior corporate finance associate at Pannone, advised Air Energi on the deal.