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Freshfields and Skadden win roles on LSE’s $685m buyout of Citi yield book

Freshfields Bruckhaus Deringer and Skadden, Arps, Slate Meagher & Flom have won places advising on the London Stock Exchange (LSE)’s $685m buy-out of Citi’s yield book and fixed-income indices.

The purchase, which includes the World Government Bond Index, is anticipated to close in the second half of 2017 subject to regulatory clearance.

The yield book’s analytics platform serves 350 institutions globally including investment management firms, banks, central banks, insurance companies, pension funds, broker-dealers, hedge funds and investment management firms.

Freshfields advises LSE on the transactions, with US regional managing partner Peter Lyons and London based IP partner Giles Pratt leading on the deal.

Skadden’s New York based partners Jeffrey Brill, Stuart Finkelstein, Erica Schohn and Kenneth Schwartz advised Citi.

Freshfields previously advised LSE on its failed merger with Deutsche Börse. The Magic Circle firm advised alongside Linklaters on the deal – which was the third attempt at a tie-up.

Former Freshfields M&A veteran Mark Rawlinson advised alongside partners Andrew Hutchings and London M&A co-head Piers Prichard Jones, LSE while Linklaters corporate partner Roger Barron acted for Deutsche Börse, along with Simon Branigan in London and Ralph Wollburg and Staffan Illert in Germany.

Last week Skadden announced it had picked up global and EMEA PE co-head Richard Youle, along with recently promoted PE partner Katja Butler.