Deal watch: Rich pickings for Links as insurance and education sectors mark busy autumn for City elite

Deal watch: Rich pickings for Links as insurance and education sectors mark busy autumn for City elite

It has been a busy few weeks for Linklaters’ transactional team as the firm scooped spots on two multibillion pound deals, in the insurance and education sectors respectively.

Corporate partners James Inglis and Nick Rumsby joined Magic Circle rivals Clifford Chance (CC) and Slaughter and May as US insurance broker Marsh & McLennan agreed to acquire the entirety of UK listed rival Jardine Lloyd Thompson (JLT) for £4.9bn. Continue reading “Deal watch: Rich pickings for Links as insurance and education sectors mark busy autumn for City elite”

Deal watch: City high-flyers land jumbo £4.4bn BA pension deal as Blackstone’s buying spree continues

Deal watch: City high-flyers land jumbo £4.4bn BA pension deal as Blackstone’s buying spree continues

City heavyweights Allen & Overy (A&O), Clifford Chance (CC) and Eversheds Sutherland have landed key roles on Legal & General’s £4.4bn buy-in of the British Airways pension scheme as advisers cash in on a brace of Blackstone deals.

UK insurer Legal & General is taking on £4.4bn of historic pension liabilities relating to the Airways Pension Scheme (APS) in a bulk annuity designed to reduce risk in the scheme. Continue reading “Deal watch: City high-flyers land jumbo £4.4bn BA pension deal as Blackstone’s buying spree continues”

Deal watch: Magic Circle scoops £300m Funding Circle IPO as Linklaters advises on £2bn wind farm financing

Deal watch: Magic Circle scoops £300m Funding Circle IPO as Linklaters advises on £2bn wind farm financing

Freshfields Bruckhaus Deringer and Linklaters have scored lead mandates on the proposed initial public offering (IPO) of small business lender Funding Circle, while Linklaters advised on the £2bn financing of the Triton Knoll wind farm.

London-based start-up Funding Circle, which provides a loan platform for SMEs in the UK, US, Germany and the Netherlands, announced today (3 September) its intention to issue at least 25% of its share capital to raise around £300m. Continue reading “Deal watch: Magic Circle scoops £300m Funding Circle IPO as Linklaters advises on £2bn wind farm financing”

Magic Circle duo goes full throttle on Aston Martin’s landmark London listing

Magic Circle duo goes full throttle on Aston Martin’s landmark London listing

City heavyweights Slaughter and May and Freshfields Bruckhaus Deringer have taken the driving seat on the proposed initial public offering (IPO) of Aston Martin, a float reportedly valuing the luxury car maker at £5bn.

Slaughters won the mandate advising Aston Martin with a corporate team led by Nilufer von Bismarck and including Roland Turnill and Filippo de Falco. The firm is working alongside Aston Martin’s general counsel (GC) Michael Marecki, while Simpson Thacher & Bartlett is advising on US law, led by London-based partner Gil Strauss. Continue reading “Magic Circle duo goes full throttle on Aston Martin’s landmark London listing”

Deal watch: Eversheds Sutherland races to advise Formula 1 team on administration as Cooley acts on $126.8m tech IPO

Deal watch: Eversheds Sutherland races to advise Formula 1 team on administration as Cooley acts on $126.8m tech IPO

Eversheds Sutherland has landed a major role on the administration of Formula 1 team Force India as Cooley advises a UK IT company on its $126.8m IPO and Herbert Smith Freehills (HSF) acts on a $388m Philippines agribusiness deal.

Finance partner Jamie Leader led Eversheds as it represented Brockstone Limited, the services company linked to Force India driver Sergio Pérez, on a High Court administration application intended to safeguard the jobs of 400 employees. Continue reading “Deal watch: Eversheds Sutherland races to advise Formula 1 team on administration as Cooley acts on $126.8m tech IPO”

Dealwatch: Europe provides rich pickings for City firms and US giants

Dealwatch: Europe provides rich pickings for City firms and US giants
  • White & Case and a group of Italian elite independents advised CVC Capital Partners on the €3bn acquisition of a 52% stake in Italian drug maker Recordati from the family of the company’s founders. The US firm’s Milan office founder Michael Immordino (pictured), London partners Mike Weir, Steven Worthington, Martin Forbes and James Greene were part of the team alongside Milan-based Ferigo Foscari, Leonardo Graffi, Iacopo Canino and Alessandro Nolet. Italian PE firm Gattai Minoli Agostinelli & Partners also acted for CVC with founder Bruno Gattai and partners Gerardo Gabrielli, Nicola Brunetti and Lorenzo Cairo. Pedersoli advised Recordati’s shareholders, led by Carlo Pedersoli.

Continue reading “Dealwatch: Europe provides rich pickings for City firms and US giants”

Deal Watch: International elite flock to $3.3bn Linde disposal as Paul Hastings hire secures 2nd deal for PE client

Deal Watch: International elite flock to $3.3bn Linde disposal as Paul Hastings hire secures 2nd deal for PE client

Freshfields Bruckhaus Deringer and Linklaters are leading on Linde’s $3.3bn Americas disposals, bringing the German gas group a step closer to its $83bn combination with Praxair.

The deal sees Freshfields advise a consortium of Messer Group, the German industrial gas manufacturer, and private equity house CVC Capital Partners as it acquired the bulk of Linde’s gas business in North America and individual business units in South America. The Freshfields team out of Germany was led by Kai Hasselbach in Munich and Stephan Waldhausen in Dusseldorf while its US team was led by partners Omar Pringle (M&A) and Paul Yde (antitrust). Continue reading “Deal Watch: International elite flock to $3.3bn Linde disposal as Paul Hastings hire secures 2nd deal for PE client”

Deal Watch: Rich pickings for Travers and Ashurst as US giants get busy on the continent

Deal Watch: Rich pickings for Travers and Ashurst as US giants get busy on the continent

It was a busy week for UK and US deal counsel as Travers Smith and Ashurst acted on multibillion-pound deals north of the channel and White & Case and Ropes & Gray landed key mandates in continental Europe.

Again acting well above its traditional mid-market territory, Travers advised IT company Micro Focus on the $2.5bn sale of open source software business SUSE to EQT Partners. Continue reading “Deal Watch: Rich pickings for Travers and Ashurst as US giants get busy on the continent”

Dealwatch: PE deals continue to dominate agenda for City firms

Dealwatch: PE deals continue to dominate agenda for City firms
  • Ropes & Gray’s London arm advised on the largest-ever UK private equity software buyout. Helen Croke (pictured) led the team advising Intermediate Capital Group (ICG) on a £1.3bn joint partnership investment. ICG was joined by Hg Saturn Fund as they invested in IRIS Software Group, a business-critical software provider for the UK accountancy, education and business market. Hg Saturn was advised on the transaction by Linklaters, while Skadden, Arps, Slate, Meagher & Flom acted for IRIS.
  • White & Case continued its strong run of private equity deals as the firm advised CVC Capital Partners on the €1.01bn loan financing of a consortium buyout of Finnish private healthcare provider Mehiläinen. The team comprised banking partners Martin Forbes and Justin Wagstaff. Meanwhile Latham & Watkins advised CVC and the banks – UBS, M&S, Bank of America Merrill Lynch, Jefferies, Credit Suisse, KeyBank and Barclays. Kirkland & Ellis advised Summit Partners, which was a selling shareholder.

Continue reading “Dealwatch: PE deals continue to dominate agenda for City firms”

Deal watch: Magic Circle trio banks on Virgin Money sale as €7.1bn Adyen IPO and £1.8bn Equitable Life disposal keep raft of advisers busy

Deal watch: Magic Circle trio banks on Virgin Money sale as €7.1bn Adyen IPO and £1.8bn Equitable Life disposal keep raft of advisers busy

Magic Circle heavyweights Slaughter and May, Allen & Overy (A&O) and Clifford Chance (CC) have scored key roles on the £1.7bn sale of Virgin Money while the €7.1bn Adyen initial public offering (IPO) and £1.8bn Equitable Life disposal drummed up business for numerous City and US advisers.

CYBG, the owner of Clydesdale Bank and Yorkshire Bank, said yesterday (18 June) it had struck a deal to buy London Stock Exchange-listed Virgin Money in a £1.7bn acquisition that will create the UK’s sixth-largest bank. Continue reading “Deal watch: Magic Circle trio banks on Virgin Money sale as €7.1bn Adyen IPO and £1.8bn Equitable Life disposal keep raft of advisers busy”