ALSTOM November 2002

Posted: 06/12/2002

CYRIL LEONARD THE CATALYST ON HUGE ALSTOM DEAL

Cyril Leonard put together ALSTOM's £111 million sale and leaseback of its UK property portfolio who will continue to advise on the operational/ development partnership with the purchaser.

The company has been heavily involved with ALSTOM for the past three years already handling the sale of £25 million of non-operational assets.

It is also providing ALSTOM with consultancy advice about its property holdings in continental Europe.

Partner Andrew Hogge said the brief for Cyril Leonard was to maximise the value of the portfolio for reinvestment in ALSTOM's core businesses Power Generation, Transmission and Distribution and Transport but at the same time to structure a flexible leaseback on ALSTOM UK's operational properties.

In terms of the transaction the additional benefits for ALSTOM are the partnership partnering with St Modwen Properties PLC who have significant experience of working with industrial conglomerates, said Mr Hogge.