K&L Gates Advises Action Hotels on Sale
19 October 2018
Global law firm
K&L Gates LLP
has advised Action Hotels on the sale of its business to Action Real Estate. Established in 2005, Action Hotels is a leading owner, developer, and asset manager of branded three- and four-star hotels in the Middle East and Australia.
Prior to the sale, Action Hotels was listed on the Alternative Investment Market (AIM), the growth market of the London Stock Exchange. The sale involves Action Real Estate acquiring the entire issued and to-be-issued ordinary share capital of Action Hotels other than the excluded shares, with the offer to be effected by means of a scheme of arrangement pursuant to Article 125 of the Jersey Companies Law.
The K&L Gates team that advised Action Hotels on the English legal aspects of the sale was led by London partner Paul Tetlow, supported by associate Jamie Kershaw and trainee solicitor Elizabeth Saunders.
Tetlow commented: “Having previously advised Action Hotels on a range of equity capital markets, corporate, and debt related matters, we are pleased to have acted on this pivotal transaction for the business.”
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