Merlin the Socimi Employs Two Lawyers From the Magic Circle For Its €1.5 Bn IPO

14/04/2014 – El Confidencial

Merlin Properties, the third Socimi waiting in the queue to become listed, wants to make its flotation an international event that would reverberate long after. Precisely, the firm wishes to launch a €1.5 billion initial public offering that will be advised by two lawyer offices belonging to the so-called Magic Circle that associates the top 5 offices in Great Britain.

Linklaters and Freshfields will prepare the Socimi of  Ismael Clemente for its flotation foreseen at the end of June. The first office will act on behalf of the following underwriting entities: Credit Suisse, UBS, London Branch and Deutsche Bank, while Freshfields will represent the real estate firm directly.

(…) Merlin Properties will become listed with a nearly 400.000 square meter portfolio, including 1.000 offices of BBVA, currently leased to Tree Inversiones Inmobiliarias  until 2040. Apart from the portfolio, the Socimi aims at acquisition of iconic buildings and high-quality assets, both in Spain and Portugal.

At the moment, two REIT firms are being listed on the Alternative Stock Market or MAB by its Spanish abbreviation and two on the Continuous Market. (…). Namely, Entrecampos Cuatro and Promorent Socimi on the first and Lar España and Hispania Activos Inmobiliarios on the second.

By now, Spanish Socimis have been raising enormous interest among investors and that is expected to last.




Original article: El Confidencial (José Antonio Navas)

Translation: AURA REE