Macfarlanes advises Wimbledon Park Golf Club on £65m sale to the All England Lawn Tennis Club
The transaction was structured as a scheme of arrangement under the Companies Act 2006, with each member receiving approximately £85,000 in cash (with a loan note alternative available for up to £60,000).
The scheme of arrangement was approved by a vote of the club’s members on 13 December 2018 and was sanctioned by the High Court of Justice on 20 December 2018.
The golf club will continue to operate until 31 December 2021 as an 18-hole course, with at least one further year as a shortened course.
The Macfarlanes team for this matter was led by corporate and M&A partner Howard Corney, with assistance from senior solicitor Max Mittasch.