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SJ Berwin LLP
Tuesday, April 03, 2007
SJ Berwin Advises British Land on £650 Million Tesco Joint Venture
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Leading corporate law firm SJ Berwin LLP advised established client The British Land Company PLC on its £650 million joint venture with Tesco plc. The limited partnership incorporates 21 Superstores across the UK, all occupied by Tesco. It brings the number of joint ventures between the two companies to four. The new joint venture has a 20 year term with an early termination option in 2017. The team was led by corporate partner Delphine Currie assisted by corporate associate Marcus Biggs with Lewis Myers, Mike Scott and Jo Taylor advising on real estate and Heather Corben and Giles Bavister advising on tax aspects. Delphine Currie commented: “We were delighted to again be asked to act for British Land. This joint venture transaction demonstrates the strength and depth of our real estate M&A practice. Real estate M&A is a key focus of our corporate offering and we are pleased to be able to provide clients with inventive and commercial advice as a result of our raft of knowledge and experience in this area.”

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