Jones Day’s EMEA private equity ambitions grow with hire of BLP’s Weir and McKeeve

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Recognised as a strong choice for UK mid-market buyouts and cross-border transactions, Jones Day’s London private equity team has expansive ambitions with the hire this week of Berwin Leighton Paisner (BLP) corporate finance partner Michael Weir on the heels of former BLP colleague Raymond McKeeve.

Weir, who was made a partner at BLP in 2012 and specialises in private equity with a particular leaning towards large real estate funds, joins the top 10 Global 100 firm three months after McKeeve, who he worked with on mandates including Dunedin’s £44m buyout of Red Commerce in 2011, and Darwin Private Equity on its £10m acquisition of organic baby food business Plum Baby in 2010. Continue reading “Jones Day’s EMEA private equity ambitions grow with hire of BLP’s Weir and McKeeve”

The legal elite dominates big-ticket mandates including Vodafone’s $130bn Verizon sell off

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The autumn deal-doing season kicked off in style in September as Vodafone announced the $130bn disposal of its 45% stake in Verizon Wireless to Verizon Communications and GlaxoSmithKline (GSK) sold off its drinks brands Lucozade and Ribena for £1.35bn.

Slaughter and May, led by corporate partner Roland Turnill, took the lead for Vodafone on one of the biggest corporate deals in history, working alongside Simpson Thacher & Bartlett in the US. Hogan Lovells had a secondary role advising Vodafone. Continue reading “The legal elite dominates big-ticket mandates including Vodafone’s $130bn Verizon sell off”

Deal watch: September sees significant rise in deal activity

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Lloyds privatisation

Slaughter and May and Freshfields Bruckhaus Deringer led the line in September advising Lloyds Banking Group on the first stage of its privatisation after being taken over by the taxpayer during the financial crisis in 2008. Slaughters, led by capital markets partner Nilufer von Bismarck, is advising UK Financial Investments on HM Treasury’s disposal of a 6% stake in the banking group, worth £6bn. Freshfields, led by corporate partner Will Lawes, advised the joint bookrunners Bank of America Merrill Lynch, J.P. Morgan Cazenove and UBS on the sale.

Microsoft’s $7bn Nokia devices acquisition

One of the most talked-about deals of the month was Microsoft’s game-changing, $7bn acquisition of Nokia’s devices and services business along with a ten-year patent licensing agreement. Skadden, Arps, Slate, Meagher & Flom, led by corporate partner Ken King, is advising Nokia on the deal, which is expected to complete in the first quarter of 2014. Alan Klein of Simpson Thacher & Bartlett in New York is advising Microsoft.

Continue reading “Deal watch: September sees significant rise in deal activity”

Deal round-up: Bakers, Bird & Bird and Simmons advise on multi-billion energy programme as BLP takes on PFI bond issue

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The UK government may be short of funds but it has generated high value deals for Baker & McKenzie, Berwin Leighton Paisner (BLP) Bird & Bird and Simons & Simmons in the past few days as the recent initial public offering (IPO) wave also see CMS Cameron McKenna advise on an Alternative Investment Market (AIM) float.

As the government moves to instal smart meters in all homes and small businesses by 2020 in a programme worth £12bn, Simmons advised long standing client Telefónica UK on a £1.5bn contract awarded by the Department of Energy and Climate Change (DECC) to act as smart meter provider for central and southern UK. Continue reading “Deal round-up: Bakers, Bird & Bird and Simmons advise on multi-billion energy programme as BLP takes on PFI bond issue”

Skadden and Shearman take lead roles as struggling BlackBerry agrees $4.7bn sale

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Following dashed hopes that BlackBerry’s new handset would reverse its falling fortunes, Skadden, Arps, Slate, Meagher & Flom and Shearman & Sterling have been assigned as lead advisors as the struggling smartphone maker sells its business to its largest investor, Fairfax Financial, for $4.7bn.

Skadden, which was instructed last month by BlackBerry as it reviewed its strategic options, is being led by New York corporate partners Stephen Arcano, Neil Stronski and Richard Grossman. Canadian firm Torys is also advising BlackBerry, led by corporate finance partner David Chaikof.

Continue reading “Skadden and Shearman take lead roles as struggling BlackBerry agrees $4.7bn sale”

Barclays £5.8bn rights issue sees Clifford Chance, Sullivan & Cromwell and Freshfields in the lead

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Barclays has begun the biggest capital raising by a UK bank since 2009 under which Clifford Chance (CC), Sullivan & Cromwell and Freshfields Bruckhaus Deringer will lead on its initial £5.8bn rights issue, as the global financial institution moves to plug a £12.8bn funding gap.

A team from 3017-lawyer Magic Circle firm CC led by London corporate partner Patrick Sarch and capital markets partner Simon Thomas is advising on English law for Barclays, while a Sullivan & Cromwell team in London is advising the bank on US law, led by client relationship partners George White and John O’Connor.

Deputy general counsel Michael Shaw is leading the Barclays team. Continue reading “Barclays £5.8bn rights issue sees Clifford Chance, Sullivan & Cromwell and Freshfields in the lead”

First limb of Lloyds privatisation sees Slaughters and Freshfields win lead roles

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Five years on from the collapse of Lehman Brothers, Slaughter and May and Freshfields Bruckhaus Deringer have won the leading roles on the first limb of the government’s privatisation of Lloyds Banking Group, which was rescued by the UK taxpayer in 2008.

Slaughters is advising UK Financial Investments Limited (UKFI) on the HM Treasury’s disposal of a 6% stake in Lloyds Banking Group, worth around £3.3bn. Continue reading “First limb of Lloyds privatisation sees Slaughters and Freshfields win lead roles”

Line up, line up: Twitter, Royal Mail and Foxtons go to market

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After a flurry of initial public offerings (IPOs) earlier in the year, with Esure, Countrywide and Partnership Assurance among the UK companies to go public, a new wave of IPOs are lining up to go to market, including Royal Mail, Foxtons and, most recently in the US, Twitter.

Twitter rather aptly tweeted its intentions to float on the stock market yesterday (12 September) with leading technology IPO specialists Wilson Sonsini Goodrich & Rosati tipped for the role. Continue reading “Line up, line up: Twitter, Royal Mail and Foxtons go to market”

Deal watch: Hogan Lovells, RPC in key work for Kodak and AstraZeneca as DLA Piper reveals major High Court win

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This week has seen two of the larger global challenger firms reveal significant wins on behalf of major international clients. Hogan Lovells closed a $650m acquisition for the trustees of the Kodak Pension Plan and DLA Piper secured victory for China Southern Airlines in the High Court. Meanwhile, one of the top performers in this year’s LB100, RPC, is advising AstraZeneca on its move to a new purpose-built HQ in Cambridge.

Continue reading “Deal watch: Hogan Lovells, RPC in key work for Kodak and AstraZeneca as DLA Piper reveals major High Court win”

Deal watch: telecoms stays on front pages as Skadden and Simpson Thacher lead on Microsoft’s acquisition of Nokia’s mobile business

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Following Monday’s $130bn deal between Vodafone and Verizon, yet another blockbuster telecoms transaction has emerged to keep M&A lawyers enthralled, with US firm Skadden, Arps, Slate, Meagher & Flom and Simpson Thacher & Bartlett taking the lead in Microsoft’s $7bn acquisition of Nokia’s Devices & Services business along with a ten-year patent licensing agreement. Continue reading “Deal watch: telecoms stays on front pages as Skadden and Simpson Thacher lead on Microsoft’s acquisition of Nokia’s mobile business”