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King & Spalding Advises DBAY Advisors on Possible £103.5 Million Offer for Logistics Development Group
November 5, 2026
King & Spalding is advising DBAY Advisors Limited (“DBAY”) in connection with its revised indicative proposal for a possible offer for Logistics Development Group Plc (“LDG”). Under the revised proposal announced on 5 November 2026, LDG shareholders would be entitled to receive 20 pence in cash and 5 pence in principal amount of payment-in-kind loan notes for each LDG share, valuing LDG’s issued ordinary share capital at approximately £103.5 million on the basis of the cash consideration and principal value of the loan notes.
DBAY is LDG’s investment manager and holds approximately 27.2% of LDG’s issued ordinary share capital. Together with parties acting in concert with DBAY, it holds approximately 35.3%. The revised proposal follows DBAY’s earlier proposals to the LDG board and its continuing engagement regarding potential solutions to provide liquidity to LDG shareholders.
The King & Spalding team is led by London corporate partner William Charnley, together with corporate associates Will Morris and Jasen Pomakov, and finance partner Andrew Brown and associate Annie Fan.
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