Hansteen Holdings acquires further £26 million (US$43 million) of units in Ashtenne Industrial Fund taking Hansteen's unit-holding to 36.7 percent
Client(s) Hansteen Holdings PLC
Jones Day advised Hansteen Holdings PLC, a property company investing in industrial property, in connection with the acquisition of £26 million (US$43 million) units in the Ashtenne Industrial Fund ("AIF") by its group company Hansteen (Jersey) Investments Limited. Hansteen acquired the further units in AIF from three vendors at a price of 46.54 pence per unit which represents a 2 percent premium to the property valuation of AIF as of December 31, 2013. The acquisition takes Hansteen's unit-holding in AIF to approximately 36.7 percent.