Herbert Smith Freehills Kramer with Richard Caring on sale of UK hospitality business to DIAFA

Herbert Smith Freehills Kramer advised British entrepreneur Richard Caring on selling a majority stake in his UK hospitality business to an entity controlled by DIAFA, an affiliate of International Holding Company, the Abu Dhabi listed conglomerate, in a ten-figure transaction.

The portfolio includes the Ivy restaurant and eponymous group of Ivy Brasseries, a collection of luxury restaurants featuring Scott’s, Sexy Fish and Noema, as well as members’ clubs including Annabel’s and Harry’s Bar.

The Herbert Smith Freehills Kramer team

Partner Alex Kay (pictured) led the firm’s team on the matter, working alongside senior associate Adam Goddard and associate Lara Watkins-Truitt, and supported by tax partner William Arrenberg and senior associate Dawn Scott.

The wider international team included Peter Dalton, Elle Hogg and Sabesh Asokan (IP, cyber and IT), Jessica Welborn and Kate Peck (IP), Hayley Brady, Angela Tay and Georgie Green (TMT and consumer contracts), Nick Wright and Sian Greenley (employment), Kristen Roberts and Sue Lee (finance), Frank Thompson (insurance), Michael Aherne (pensions), Kaja Kluziak, James Tatton and Juhwan Sohn (corporate) and Chris Walters, Alex Hamilton and Omar Kharouf (corporate, Dubai).