DLA Piper, Slaughter and May and Clifford Chance (CC) have all won roles advising on Heineken UK’s proposed £403m acquisition of a portfolio of approximately 1,900 UK pubs owned by Punch Taverns. The beer giant has made a bid for the pubs alongside Patron Capital.
DLA, which has a sole legal adviser mandate with Heineken UK, advised the business on the deal for Punch Securitisation A, which Heineken plans to integrate into its existing Star Pubs & Bars business. DLA’s global co-chair of corporate Bob Bishop led on the deal, alongside corporate partners Mark Chivers and Tim Wright. It is understood it could take approximately six months for the deal to close due to competition clearances.
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