BDO has provided financial and tax due diligence, tax structuring and SPA advice to the Abu Dhabi National Exhibitions Company (ADNEC) in respect of their acquisition of the DoubleTree By Hilton London ExCel.
The Abu Dhabi National Exhibitions Company (ADNEC), part of ADQ, one of the region’s largest holding companies, has added a new hotel to its portfolio: the DoubleTree By Hilton London ExCel.
The addition brings ADNEC’s total portfolio of hotels to six, with other hotels under management including the Aloft Abu Dhabi, Andaz Capital Gate, Abu Dhabi, the Anantara Sir Bani Yas Island Abu Dhabi, and the Qasr Al Sarab Desert Resort by Anantara in the UAE. It also owns the Aloft London ExCel.
The acquisition is the latest significant development in ADNEC Group’s hospitality business. The move represents the company’s long-term vision, alongside its readiness to lead the post-pandemic recovery phase. The completion of the transfer of the hotel to ADNEC is effective immediately.
“We had a great experience working with BDO on this corporate acquisition and were impressed by their joined up, timely and pragmatic approach. In particular, we benefited from their specialist expertise and sector knowledge together with their risk-focused advice throughout the transaction. It felt like the BDO team acted as an extension of our own team, working closely with both us and our legal advisers throughout. We look forward to working with BDO on future transactions.”
David Miles, CFO, ExCel London
“The specialist leisure and hospitality team here at BDO took great pleasure being able to work with David, one of our alumni, on what was an interesting transaction. This is a statement acquisition for ExCel’s owners, ADNEC, and will be a real boost to the local community. We look forward to seeing what the future holds as lockdown restrictions ease and the UK gradually opens up more to international tourism.”
Conor Lambert, Partner, BDO Corporate Finance