Cases & Deals

Hansteen acquires 26.3 percent stake in £460 million (US$727.4 million) Ashtenne Industrial Fund, and becomes new Asset Manager to Fund

Client(s) Hansteen Holdings PLC

Jones Day acted for Hansteen Holdings PLC in its acquisition of a 5.3 percent stake in the Ashtenne Industrial Fund Unit Trust from Warner Estate Holdings PLC (in administration) and its acquisition of Warner's asset management business from the administrators. The Firm also acted for Hansteen in respect of its appointment by Aviva Investors Global Services Limited as asset manager to the Ashtenne Industrial Fund, the APIA Regional Office Fund and Norwepp Limited Partnership and its subsequent offer to subscribe for up to £50 million of newly issued units in the Unit Trust.