Legal Business

Moving on: homebuilder McCarthy & Stone turns to A&O for its November listing

Regular counsel Freshfields advises lead arrangers on £1bn IPO

Retirement home builder McCarthy & Stone has selected Allen & Overy (A&O) to advise on its £1bn initial public offering (IPO) as it prepares this month to return to public ownership almost a decade after the developer was taken private.

McCarthy & Stone’s appointment of A&O is a move away from Freshfields Bruckhaus Deringer, which was listed as the developer’s solicitor in its most recent annual report in 2014. However, Freshfields already has a lead role on the float, acting for underwriters Deutsche Bank, Goldman Sachs and Jefferies International, with partner Mark Austin leading the team.