International law firm Olswang has advised Quintain Estates & Development plc, the London property development and investment specialist listed on the main market of the London Stock Exchange, on its corporate and real estate sale of a portfolio of real estate assets to Palace Capital plc, a company listed on the AIM market of the London Stock Exchange.  The transaction was valued at £39,050,000 and constituted a reverse takeover for Palace.

The transaction involved the sale of Quintain (Signal) Member A Limited and a property at Gelderd Point in Leeds, and was a result of Quintain's strategy exiting its non-core regional investment property business and reducing group debt to focus on Quintain's London development and investment business and asset management activities.

The Olswang team advised Quintain on corporate, tax and real estate aspects of the transaction.  Corporate Partner Paul Blackmore, who led the team, commented: "It was a pleasure to work with Quintain on this transaction.  We were able to utilise Olswang's strengths across its real estate, corporate and tax teams, and experience in conducting corporate real estate M&A transactions, to assist Quintain in delivering this strategic move".

The multi-disciplinary team comprised Partner Paul Blackmore, assisted by corporate Associate Julian Ciecierski-Burns, real estate partners Jonathan Lewis and Matthew Speed, real estate Associate Toby Gribbin, tax Partner Graham Chase and tax associates Elizabeth Emerson and Mark Spinney.