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Bell Pottinger North - Client News
Friday, December 15, 2006
Romania's EU accession generates interest in Beachcroft client

A dedicated Romanian property fund which has just floated on the AIM market is being advised by Bristol-based commercial law firm, Beachcroft LLP.

Ahead of the country's accession to the EU on 1 January, Jersey-based Fabian Romania Property Fund plans to capitalise on increased interest in the Romanian property market. The Fund, which has raised approximately EUR40 million of new capital through a placing, will be the only UK-quoted property fund with an exclusive focus on Romania. Having already listed on the Bermuda Stock Exchange, it will be capitalised at approximately EUR69 million.

The Beachcroft team, led by Bristol-based John Williams and Jocelyn Ormond, has advised the Fund on all UK aspects of its flotation and fundraising, as well as coordinating a team of lawyers in Cyprus, Jersey and Romania. The firm is working alongside the Fund's investment manager, Fabian Capital, nominated adviser, Deloitte Corporate Finance, and broker, Shore Capital. Ozannes is advising the Fund on Jersey law.

Jocelyn Ormond commented: "Beachcroft has a strong track record of advising non-UK companies on their admission to AIM. This transaction has been particularly interesting because of the range of jurisdictions involved, the need to change the status of the Fund under Jersey law ahead of admission, and the fact that the Fund is already listed in Bermuda.

"AIM continues to go from strength to strength and is now one of the most attractive markets for international companies seeking to access additional funds. We are excellently placed to be the preferred legal adviser to property funds and other companies wishing to enter this market."

Mark Holdsworth, Director of Fabian Romania Property Fund, commented: "Beachcroft has acted as a pivotal member of our advisory team for our flotation and fundraising. We have valued their AIM expertise and their ability to manage the legal aspects of a transaction of this nature across multiple jurisdictions."

Beachcroft LLP's national corporate finance team comprises more than 30 lawyers and advises on corporate transactions in both the private and public sectors. The team has particular expertise in AIM and PLUS flotations, mergers and acquisitions and private equity.


For more information, please contact:
Deborah Garritty/Emily Goehler, Bell Pottinger North
dgarritty@bellpottingernorth.co.uk / egoehler@bellpottingernorth.co.uk
Tel: 01625 506444

Notes to Editor
Beachcroft LLP (formerly Beachcroft Wansbroughs) is one of the largest national commercial law firms in the UK. With over 1,400 employees, it provides legal advice and litigation services from seven locations in the UK (two in London, Birmingham, Bristol, Leeds, Manchester, Winchester) and also in Brussels. From routine insurance claims management to 'trusted adviser' work for major national and international organisations, the firm delivers integrated legal services to clients in six main industry groups: health and public sector; real estate and construction; financial institutions (including the insurance industry); consumer and industrial goods and services and technology and telecommunications.

The firm has received a number of industry accolades in the last year. Chambers UK, A Client's Guide to the Legal Profession 2007, recognised 65 Beachcroft partners as leading lawyers, ranking the firm at number 16 in the UK, up from 19 last year. In Legal 500, a guide to the top 500 lawyers in the UK, the firm received a Tier 1 ranking for 17 of its practice areas across the UK. In Legal Week's client satisfaction survey, the firm came second amongst all law firms in the UK. Beachcroft is one of the largest law firms in the country to obtain the 'Investors in People' award across all of its offices.

The Bristol office currently includes 24 partners and over 400 staff. Its partners have particular expertise and experience in commercial property, public sector, PFI/PPP projects, health, IT, construction, litigation, financial services and employment law.

For further information, please visit: www.beachcroft.co.uk



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