Linklaters advises Malaysian pension funds on £1.6bn stake in Battersea Power Station

Linklaters has advised Permodalan Nasional Berhad, Malaysia’s largest asset manager, and the Employees Provident Fund, a Malaysian state pension fund, on their £1.6bn stake in the £9bn redevelopment of London’s Battersea power station. The two investors formed a joint venture to buy the commercial part of the power station building from Battersea Phase 2 Holding Company.

The building includes Apple’s new European HQ, and a new business members club owned by IWG.

The deal is due to be completed in the first quarter of 2019.

The Linklaters team is led by Real Estate partner Patrick Plant and includes managing associates Siobhan Burton and Matthew Plaskow and associate Elyse Yap. Linklaters has advised on a number of significant real estate transactions involving Asian investors this year.