BLP advises Delek Group on the sale of holdings in Roadchef
International law firm Berwin Leighton Paisner (BLP) is advising MSA Acquisitions Co. Limited (a wholly owned subsidiary of the Israeli-listed Delek Group) in relation to the sale of all of its holdings in Roadchef, one of the largest motorway services operators in the UK, to Antin Infrastructure Partners (an infrastructure fund with significant interests in France and the UK), for cash consideration of £153m.
The share purchase agreement was signed on 11 September 2014 and the deal is expected to close at the end of September 2014.
Both Delek, Israel’s largest integrated energy company, and Roadchef are long-standing clients of BLP and this transaction joins a series of successful asset realisations by Delek which are helping to accelerate the company’s strategic plan to focus operations on exploration and production of oil and gas.
The BLP team was led by Corporate Finance Partner Cath Shirley, assisted by Corporate Finance Senior Associate Patrick Johnson, Associates Sam Davies and Dimple Purohit and supported by a wider cross-departmental team. This included Real Estate Partners Barry Gross and Karen Friebe, Tax Partners Gary Richards and Neal Todd, Pensions Partner David Dennison, Commercial Associate Director Mimi Curran, Intellectual Property Consultant Tamara Quinn, and Patrick Taylor, utilised for specialist expertise from BLP’s Lawyers On Demand service.
Client Relationship Partner Jonathan Morris said: “We are delighted to be advising Delek on our first major corporate transaction for them.”