Ogier’s Corporate specialists have advised British business mogul Richard Caring on the sale of his majority stake in The Ivy collection for £1.4 billion to DIAFA, an Abu Dhabi-based luxury and hospitality investor.
The portfolio sold includes the iconic Ivy restaurant, famed members’ clubs Annabel’s and Scott’s, as well as a wider collection of restaurants and hospitality venues throughout the UK. The transaction is subject to customary regulatory approvals and is expected to close in the next two to three months.
The multi-jurisdictional Ogier team was led by Jersey Corporate partner Richard Daggett, supported by senior associate Danny Cole and associate Hugo Reid. The wider international team included British Virgin Islands partner Christian Burns di-Lauro, Jersey partner James Angus and Jersey managing associate Matthew Davies.
Ogier worked closely alongside principal deal counsel Herbert Smith Freehills Kramer LLP.
Richard Daggett said: “We are pleased to have advised our longstanding client Richard Caring on this landmark transaction which underscores the enduring appeal of The Ivy, Annabel’s and the rest of this celebrated portfolio.
“These assets reflect the best of British dining and social culture and their relevance in today’s market is as strong as ever. Acting for Richard on this journey over many years has been a privilege for our team.
“Furthermore, this deal demonstrates Ogier’s strength in advising on big-ticket multi-jurisdictional transactions and highlights our deep understanding of the real estate and hospitality sectors.”
