Mishcon De Reya advises Capco on sale of Olympia London for £296 million
18 April 2017

Mishcon de Reya advises Capco on sale of Olympia London for £296 million

Mishcon de Reya LLP has advised long-standing client, Capital & Counties Properties PLC ("Capco"), on the share sale of its Olympia London exhibition business for £296 million. The business was sold to a consortium of German institutional investors, which includes Bayerische Versorgungskammer (Germany’s largest manager of public pension schemes investing through a fund managed by Universal-Investment) as the single largest shareholder, the Versicherungskammer Bayern Group (Germany’s largest public insurer) and DFI European Value Add Fund.  Capco acquired full control of the site in 2009 and since then have transformed Olympia into a premium central London venue, having invested £30 million into the project.

The Mishcon de Reya team was led by Corporate Partner Ross Bryson with support from Corporate Associates Lucinda Cridland and Lily Whitfield and Real Estate Partner Stephen Hughes, supported by Construction Partner Simon Hunter, Real Estate Senior Associate Arnaud Montagna, Planning Managing Associate Daniel Farrand. Partner Jonathan Legg advised on Tax with support from Associates Bella Weston-Baker and Sarah Howes. Commenting on the sale, Ross said:

"We are privileged to have acted on this significant landmark sale for longstanding client Capco, made even more satisfying as we have acted for them in relation to Olympia since their acquisition of the business over eight years ago."