Slaughter and May advised YTL Corporation Berhad on the acquisition by its subsidiary, YTL Hotels & Properties Sdn Bhd, of the entire issued share capital of a Spanish project company, SOL HTL Project, S.L.U., for EUR 220 million.
SOL HTL Project is undertaking a real estate development project to convert an existing office building in the centre of Madrid into a 200-room hotel to be operated under the EDITION brand of Marriott International, Inc. at Plaza de Celenque no. 2, 28013 Madrid, Spain.
Closing of the acquisition will take place following the completion of the EDITION hotel.
The target opening date for the hotel is 31 December 2020.
Slaughter and May advised YTL Corporation on the deal with a team comprising Simon Hall (partner, in picture) and Chris Parrott (associate).
Uría Menéndez Abogados, S.L.P. acted in relation to matters of Spanish law.
Law Firms: Slaughter and May;
Clients: YTL Corporation Berhad;