LONDON (19 September 2006) — McDermott Will & Emery has advised Mr. Tony Troy on the sale of Principal Hotels to Permira, a private equity firm.
Mr. Troy, chief executive of Principal Hotels, sold his shares in the operating companies as well as those companies holding the real estate comprising the six four-star Principal Hotels (which Mr. Troy had formed via a joint venture with Royal Bank of Scotland plc). He will continue to act as chief executive of the group.
The McDermott multi-disciplinary team included corporate associates Brigid Breslin. Tax advice was provided by associate James Ross and intellectual property advice was provided by associate Rohan Massey.