National law firm Freeths have advised the shareholders of BDCG Holdings Limited on its sale to London International Exhibition Centre Holdings plc (Excel).
BDCG Holdings is the owner of London’s iconic Business Design Centre (BDC), one of the capital’s leading conference & exhibition venues that also provides showrooms and private office space. The BDC is a Grade II listed venue that spans a 4.5-acre freehold estate, hosting over 130 events, including long-standing shows such as the London Art Fair, and more than 900,000 visitors per year. The venue is a multiple award winner, and the estate also includes the freehold title to the Hilton Hotel located in Islington, London.
Excel is a subsidiary of ADNEC Group based in Abu Dhabi. ADNEC’s multi-award-winning venue portfolio includes Excel London and ADNEC Centre Abu Dhabi. The acquisition represents an important milestone in ADNEC’s long-term growth strategy and demonstrates its commitment to investing in and supporting London’s event and business tourism industry.
A multi-disciplinary and multi-office Freeths team assisted with the sale, including: Corporate – Robert Chidley, Francis Dalton, Rosanna Brown, Christian Davison and Shivani Fakey; Tax – Claire Boyce, Nur Alzubeydi and Dhruv Shah; Real Estate – Adam Watson, Barry Richards and Charles Smith; Trusts – Tom Gauterin; and Employment – Kevin Poulter.
Commenting on the deal, Robert Chidley said: “The whole team are delighted to have supported the sellers on this significant and personal transaction in London’s UK's meetings, incentives, conferences, and exhibitions (MICE) sector.”
Joseph Mullee, a seller in the transaction, added: “The team at Freeths at every stage of the sales process have been very professional and diligent in ensuring that we completed on time. It was a pleasure working with them."