Ogier advise Citibank International Ltd

Providing Jersey law advice to Citibank in relation to the provision of senior and mezzanine finance to funds managed by Lone Star to acquire Rockspring's UK "Tiger" shopping centre portfolio for approximately £260,000,000.

The properties located in the UK were owned by Jersey propcos with the Jersey propcos being owned by a Luxembourg entity.  The acquisition was therefore structured so that the Luxembourg parent of the Propcos was acquired by a Luxembourg acquisition vehicle. Security for the financing was provided by the acquisition vehicle and the Jersey Propcos. The structure of the transaction ensured that no stamp duty or other taxes were payable.