Sophie Surtees

Miller Thomson LLP, Stikeman Elliott LLP, and Torys LLP advised a take-private deal for European Residential Real Estate Investment Trust in a $441 million acquisition by another REIT, following a multiyear wind-down. Canadian Apartment Properties Real Estate Investment Trust will acquire the REIT known as ERES and delist the company from the Toronto Stock Exchange, according to a Monday news release. Toronto-based ERES said it is Canada's only REIT focused on European multifamily properties, holding a portfolio of properties in the Netherlands. As of the end of 2025, ERES held about 1,000 residential units worth a combined $360 million, with about $102 million worth of assets held for sale. CAPREIT is Canada's largest publicly traded rental housing owner, with a combined 45,500 apartments and townhomes across Canada and the Netherlands worth $14.7 billion. The CAPREIT acquisition marks the completion of a strategic review process by ERES. "This transaction marks a natural and constructive ending to ERES, after several successful years of diligent, well-executed downsizing," said Stephen Co, chief financial officer of CAPREIT. "By taking ERES private, CAPREIT can determine the future of the remaining assets in alignment with its long-term objectives, while providing public ERES unitholders with a timely and certain all-cash exit." According to a news release, the acquisition price represents a 32% premium of ERES' closing price on Nov. 6, 2024, before a special ERES meeting to authorize a sale of the REIT. If approved at an upcoming meeting in April, the transaction would close in the second quarter of this year. CAPREIT is advised by John Emanoilidis, David Forrester, Max Ledger, Jason Lamb, Jodie Wang, Michael Zackheim, Simon Knowling, Reea Galeano, Jennifer Lennon, Parker Baglole, Omar Wakil, Andrew Gray, Nina Mansoori, Ben Pan, Corrado Cardarelli, and Andrew Wong of Torys LLP. ERES is advised by Stikeman Elliott LLP. An ERES special committee is advised by Miller Thomson LLP.

Mar 3

1 min

Willkie served as counsel to Davidson Kempner Capital Management LP, supported by operating partner Afendis Capital Management, on the €400 million syndicated TLB and €60 million revolving credit facility refinancing of the Glacier Group, an ice cream manufacturing platform. On February 20, Davidson Kempner announced the completion of its syndicated refinancing of the Glacier Group, one of the world's largest third-party ice cream manufacturing platforms, which includes leading producers YSCO and Gelato d'Italia. Davidson Kempner Capital Management LP is a global investment management firm with over 40 years of experience and approximately $38 billion of assets under management. The Willkie team was led by partners Daniel Gendron and Claire McDaid and included associates Lindsay Randerson, Ethan Douglas and Oliver Salvador.

Feb 23

1 min

On January 19, it was announced that a subsidiary of Willkie client, CMA CGM S.A., made a recommended cash offer for the entire share capital of London-listed Wincanton plc, a leading supply chain partner for British business, providing supply chain solutions throughout the United Kingdom and Ireland. The transaction values Wincanton plc at approximately £566.9 million. The acquisition by CEVA Logistics S.A. is subject to shareholder and certain regulatory approvals. CEVA is a world leader in third-party logistics, providing global supply chain solutions to connect people, products and providers all around the world. CEVA is part of the CMA CGM Group, a global player in sea, land, air and logistics solutions, serving more than 420 ports around the world across five continents, with a fleet of around 620 vessels. CMA CGM is a provider of container shipping services around the world, a key member of the Ocean Alliance and a global port operator. The Willkie team was led by partners Daniel Hurstel, Gavin Gordon and Gabriel Flandin, and included partners Rahul Saha and Faustine Viala, associates Nicola White, Alaric Green, Isi Ijagbone, Lachlan Johnson and Julia Radaszkiewicz, and trainee solicitor Sophie Surtees.

Jan 19

1 min

Willkie advised Convex Group Limited ("Convex Group"), a global specialty insurance and reinsurance group, in connection with its inaugural Tier 2 regulatory capital bond offering in the London Regulation S market. The offering consisted of $600 million in aggregate principal amount of 6.500% Fixed Rate Reset Callable Subordinated Notes due 2046 (the "Notes"), which were issued on January 21, 2026. The Notes were structured to receive Tier 2 solvency capital treatment under the Bermuda Monetary Authority’s Group Supervision and Eligible Capital Rules. The Notes are listed on the International Securities Market of the London Stock Exchange and were offered to institutional investors outside the United States in reliance on Regulation S under the Securities Act of 1933. Convex Group intends to use the majority of the net proceeds from this offering to support its long-term capital structure and strategic independence, as well as to finance a share repurchase in connection with recent equity investments by Onex Corporation and American Insurance Group (AIG). The Willkie team was led by partner Jennifer Tait and included associate Snaebjorn Olafsson and trainee solicitor Ellen Gribben in London. Partner Isaac Silverstein and counsel Catherine Harrington in New York provided U.S. tax advice. Partner Jane Scobie and associate Ashley Jamali in London provided U.K. tax advice. Partners Allison Tam and Andrew Tromans in New York and London and associate Melisa Khajaei in New York provided insurance regulatory advice and associates Rowan Khanna and Kari Prochaska in London supported on financial regulatory and data protection matters, respectively.

Jan 26

1 min

Willkie advised Novacap, a leading North American private equity firm, on its close of Novacap Tech Fund VII, with nearly $3.8 billion in capital commitments, including affiliated vehicles. On February 25, Novacap announced the final close of Novacap Tech Fund VII Fund with nearly $3.8 billion in capital commitments. The fund was raised in under a year, quickly exceeding its target of $2.75 billion, highlighting Novacap’s longstanding focus on disciplined, value-added technology buyouts. With the close of Tech VII – the latest fund in Novacap’s Technologies strategy, Novacap now manages more than $12 billion in assets. In 2025, Willkie advised Novacap on a number of high profile M&A transactions, including its $1.9 billion take-private of Integral Ad Science. The Willkie team was led by partners Larissa Marcellino, Giovanni Smedley and Walter Turturro and included partners Caitlin Link, Henrietta de Salis, Alexander Ryan and Sarah Kessler.

Feb 27

1 min