Trowers & Hamlins

Trowers & Hamlins are advising Abu Dhabi National Exhibitions Company (ADNEC) on its recommended cash offer for the entire issued and to be issued share capital of London International Exhibition Centre Holdings plc (LIECH).  LIECH owns and operates the internationally-renowned exhibition and conference centre in London's Docklands known as ExCeL London.

The offer values the entire share capital of LIECH at approximately £178m.  In addition, ADNEC will repay a loan owing from LIECH to one of its principal shareholders, giving an aggregate transaction value of approximately £318m.

ADNEC was incorporated in 2005 by the Government of Abu Dhabi with a purpose of facilitating the establishment of a world-class exhibition centre in the heart of Abu Dhabi and developing business tourism destinations around the world.  ADNEC is currently engaged in a building programme in Abu Dhabi, which will result in the creation of an exhibition centre consisting of 73,000m2 of exhibition space, making it one of the largest in the Middle East region.  ADNEC's strategy is to create an international network of leading conference and exhibition centres.  ExCeL London will act as a key hub in developing that blue-chip brand. 

Trowers & Hamlins' team was led by London based Corporate partners Andrew Watkins and Michael Pattinson. 

Andrew Watkins commented, "This deal demonstrates the strength in breadth of the Trowers' practice.  It was a complicated corporate transaction, involving a significant real estate asset where the client was won through our presence and position in the Gulf.  We look forward to working with the ADNEC team to take the business of ExCeL London on to the next stage."