International law firm Watson Farley & Williams (WFW) has advised Dubai-based International Real Estate Partnership Holdings (IREP) on the purchase from administrators Mark Fry and Gary Shankland of Begbies Traynor (London) of the Asia-Pacific business of real estate consultancy and services company Cluttons.
This follows the acquisition by specialist turn-around investment firm RCapital of the wider Cluttons group.
The purchased group comprises 14 companies across south-east Asia and Australasia which provide services to both the residential and commercial property markets.
The WFW team was led by corporate Partner Daniel Saunders, assisted by Associate Andrea Bhamber and Trainee Fred Neville-Jones.
Saunders says: “It has been our pleasure to assist IREP with the acquisition of a group of companies which retain strong fundamentals despite suffering from difficult trading conditions. We look forward to working with IREP to grow the business of their newly acquired group.”
IREP Director Kenneth McCrae, says: “I have utilised the legal services of WFW over the past twelve years on various aspects of the law. Once again we were extremely pleased with how Daniel and his team managed the whole acquisition process with an excellent contractual outcome for IREP.”
