mARCH 2012 www.lawyer-monthly.com DEAL REPORT ARENA LEISURE TO BE ACQUIRED BY REUBEN

BROTHERS' ALDERSGATE INVESTMENTS VEHICLE The boards of Aldersgate and Arena reached agreement earlier this year on the terms of a recommended cash offer under which Aldersgate will acquire the entire issued and to be issued share capital of Arena. The cash offer has been recommended and is to be implemented by a court sanctioned approved scheme of arrangement so that Aldersgate acquire all issued and to be issued share capital of Arena. Under the terms of the Acquisition, Scheme Shareholders will be entitled to receive 44.25

  

 

pence in cash for each Arena Share held at the Scheme Record Time, valuing the entire issued and to be issued share capital of Arena at approximately £167 million. Aldersgate is a company incorporated in the British Virgin Islands and is wholly-owned by family trusts controlled by David and Simon Reuben, both British citizens. Aldersgate operates as a holding company for property related investments and its existing portfolio consists of investments in the United kingdom, mainland Europe and other jurisdictions. SNR Denton Uk LLP provided legal advice on this deal, with Partner, Virginia Glastonbury,

leading on the real estate aspects for the Reuben Brothers' Aldersgate Investments Limited vehicle, and Partner, martin kitchen, acting as lead corporate and Code advisor for the Reuben Brothers' Aldersgate Investments Limited vehicle. LM

Virginia Glastonbury Partner, SNR Denton UK LLP One Fleet Place, London EC4M 7WS Tel: +44 (0)20 7320 6226 Email: virginia.glastonbury@snrdenton.com

Martin Kitchen Partner,SNR Denton UK LLP One Fleet Place, London EC4M 7WS Tel: +44 (0)20 7320 6692 Email: martin.kitchen@snrdenton.com

DEAL REPORT

SIMBIONIX ACQUIRES ARTHRO VR PRODUCT LINE FROM GMV

as lifestyle choices nowadays include more sports and physical activities which tend to cause more injuries. In addition, the general population has a longer lifespan and older individuals are more susceptible to joint damage, further increasing the need for arthroscopic procedures. These continuing changes in demographic lifestyle choices are not only driving demand for arthroscopy from patients; they are leading more and more surgeons to seek out training in arthroscopic techniques. Compared to conventional open surgery, arthroscopic surgery performed by an experienced surgeon, holds numerous and well established benefits including small incisions with a reduced risk of infection and less pain. LM

Simbionix USA Corporation, the world’s leading provider of medical education and simulation training, is pleased to announce it has purchased the ARTHRO VR®, a virtual reality arthroscopic training simulator line from GMV, Spain. This purchase expands the company’s training tools to provide clients with advanced solutions for orthopedic surgeons. As with all Simbionix training simulators, this system is the ideal complement to traditional training techniques, reducing instruction time and providing a complete hands-on experience. In the coming years, all arthroscopic procedures are expected to grow considerably,



 

  Legal Transactions 91





