Ogier advises on the establishment of a Shariah-compliant investment structure to acquire Greyhound Retail Park Phase II

A cross-jurisdictional team of lawyers from Ogier's Cayman Islands and Jersey offices recently advised on the establishment of a Shariah-compliant investment structure devised for the acquisition of Greyhound Retail Park Phase II, Chester in the UK.

Greyhound is a dominant, multi-led retail park housing major UK retail chains such as Asda and John Lewis.

Ogier advised on the structuring, establishment and financing aspects of the project, including the implementation of the Shariah-compliant structure.

Along with the equity investment, the acquisition was financed through facilities made available from Bank of Ireland.

The Ogier team was led by Partners Angus Davison and Katrina Edge, and also included Managing Associates Mark Santangeli and Matthew Gilley, and Associates Tommy Tuohy, Paul Ebanks and Eilidh McMillan.

Angus Davison said: "We are delighted to have worked on another innovative Islamic finance transaction.

"It was particularly pleasing to complete the deal within a tight deadline just in time for year end."