LK Shields Solicitors was at the heart of a deal that saw leading Irish property advisor Hamilton Osborne King (HOK) Group sold to a UK property giant, Savills plc. HOK is the largest firm of commercial property advisors in Ireland and is a market leader in the Irish retail market where it has a dominant position in the shopping centre sector.

Savills will be paying around €50 million for HOK, consisting of approximately €26.7 million in cash on completion, with the balance of approximately €23.3 million, being a combination of loan notes redeemable over a period or 36 months and distributions to senior personnel in HOK.

The acquisition was of the HOK Group operating within the Republic of Ireland. Gerry Halpenny, a partner in LK Shields Solicitors' Business Department, led the team with assistance from a large group within the firm who advised on various aspects including property, pension, employment and related matters.

Commenting on the deal, Gerry Halpenny said: "This transaction was the biggest in the sector to date this year. In addition it was a very challenging transaction due the structure of both the HOK Group and the transaction itself. This made it all the more pleasing to achieve the fairly aggressive target for completion of the transaction desired by the clients."



Autumn 2006.