Magic Circle firms Clifford Chance (CC) and Freshfields Bruckhaus Deringer have taken the lead on the latest big corporate transaction to come out of Germany, the sale of speciality chemicals and manufacturing company CABB International to private equity firm Permira Advisers, providing an exit for Bridgepoint Capital, with the asset reported in the financial press to be valued in excess of $1bn.
The deal, which was announced on Tuesday and is expected to complete in June this year, sees CC advise London-based Permira and Freshfields represent Bridgepoint, which acquired CABB from AXA Private Equity for an undisclosed sum in March 2011 when it employed 750 people with 2010 sales of €311m.
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