Ashtons advises Witnesham Ventures on capital reduction demerger

Ashtons Legal has advised a group of real estate companies owned and operated by Witnesham Ventures Limited on a successful capital reduction demerger.

Mark Watson from Ashtons Legal lead the transaction and worked with John Howard and Jeremy Scowsill of Witnesham Ventures.

Capital reduction demergers can be quite complex, but ultimately involve a company reducing its shares capital in return for which the business which is intended to be ’demerged’ is transferred to another company.

The group originally consisted of three companies, each of which operated its own separate real estate business. Through the process of a capital reduction demerger, the three companies were separated into three stand-alone and distinct groups of their own.

Pictured: John Howard and Jeremy Scowsill.

John Howard of Witnesham Ventures and Jeremy Scowsill, who as a result of the demerger is a former director of Witnesham Ventures, said: “We have been extremely grateful for the excellent advice and support we were given during the transaction by the team at Ashtons Legal, whose guidance through this complex process was truly commendable.”

Mark Watson, Senior Associate at Ashtons Legal adds: “At Ashtons Legal we have a wealth of experience of numerous previous demergers and it has been a pleasure to work alongside Jeremy and John on this collaborative process.”