Deal watch: Westfield GC exits for something ‘very different’ as takeover completes while DLA lands Poundworld administration role

Deal watch: Westfield GC exits for something ‘very different’ as takeover completes while DLA lands Poundworld administration role

Retail’s high street struggles are keeping advisers in the sector busy, as multiple firms took roles on the £18.5bn takeover of Westfield Corporation and DLA Piper took the lead on the administration of discount retailer Poundworld.

A host of firms across the globe advised as French property company, Unibail-Rodamco, completed its acquisition of shopping centre operator Westfield last week, in a deal first announced late last year. The combined $72bn entity owns and operates 102 shopping centres in 13 countries, the majority of which are in Europe and the US. Continue reading “Deal watch: Westfield GC exits for something ‘very different’ as takeover completes while DLA lands Poundworld administration role”

Deal watch: Slaughters tunes into Sky bidding war as Links and Ashurst waste no opportunity on Cory Riverside disposal

Deal watch: Slaughters tunes into Sky bidding war as Links and Ashurst waste no opportunity on Cory Riverside disposal

Slaughter and May has been drafted in by the Walt Disney Company on its Sky News bid while Linklaters and Ashurst took the lead as infrastructure investors scoop UK waste management business Cory Riverside Energy.

The latest twist in the multi-billion pound takeover of Sky has seen a team led by Slaughters corporate partner Richard Smith advising Disney on a bid for Sky News. This after a UK government decision last week (5 June) that Rupert Murdoch-owned 21st Century Fox could pursue its £18.5bn bid for the 61% of Sky it did not already own on the condition it sells Sky News. Continue reading “Deal watch: Slaughters tunes into Sky bidding war as Links and Ashurst waste no opportunity on Cory Riverside disposal”

Deal watch: Ropes & Gray advises on £1.3bn private equity deal as White & Case and Eversheds score major mandates

Deal watch: Ropes & Gray advises on £1.3bn private equity deal as White & Case and Eversheds score major mandates

Major transactions continue to flow after Ropes & Gray’s London arm acted on the largest-ever UK private equity software buyout while White & Case and Eversheds Sutherland also landed on sizable deals.

Private equity powerhouse Helen Croke (pictured) led a team from Ropes & Gray advising Intermediate Capital Group (ICG) on a £1.3bn joint partnership investment. The investment, alongside HG Saturn Fund, is in IRIS, a business-critical software provider for the UK accountancy, education and business market. Continue reading “Deal watch: Ropes & Gray advises on £1.3bn private equity deal as White & Case and Eversheds score major mandates”

Deal watch: trio of big-ticket deals highlight frothy market for US and City elite

Deal watch: trio of big-ticket deals highlight frothy market for US and City elite

Barely a City or US firm in London has gone without popping a Champagne cork in recent days as big-ticket deal activity remains frothy, while showing no signs of losing its fizz.

Recent big-ticket deals characterising the market include US tech private equity player Silver Lake’s proposed £2.2bn buyout of ZPG – the parent company of UK property site Zoopla – Cinven’s disposal of its Ufinet Spanish fibre-optic business and the $816m London listing of Avast, the Prague-headquartered cybersecurity heavyweight. Continue reading “Deal watch: trio of big-ticket deals highlight frothy market for US and City elite”

Deal watch: Magic Circle duo lead on Vodafone’s €18.4bn buyout of Liberty Global European Assets

Deal watch: Magic Circle duo lead on Vodafone’s €18.4bn buyout of Liberty Global European Assets

Slaughter and May and Freshfields Bruckhaus Deringer have landed key roles on Vodafone’s €18.4bn buyout of Liberty Global European assets, as Vodafone expands its European services.

The transaction includes the acquisition of US cable giant Liberty’s Unitymedia business in Germany, as well as its UPC brand businesses across Hungary, Romania and the Czech Republic, as Vodafone looks to accelerate consolidation in key markets. Continue reading “Deal watch: Magic Circle duo lead on Vodafone’s €18.4bn buyout of Liberty Global European Assets”

Deal watch: International firms find cure for Takeda’s £46bn pharma takeover as CMS and Pinsents tie up giant wind farm disposal

Deal watch:  International firms find cure for Takeda’s £46bn pharma takeover as CMS and Pinsents tie up giant wind farm disposal

Slaughter and May, Linklaters, Davis Polk and Ashurst are among the firms to have won major mandates on Japanese pharmaceutical giant Takeda’s £46bn takeover of Irish drug-maker Shire, while CMS and Pinsent Masons led on the sale of the UK’s £2bn Neart na Gaoithe offshore wind farm.

Takeda’s recommended offer is the culmination of a drawn out takeover process which has seen Japan’s largest pharma company make multiple bids for London Stock Exchange-listed Shire over recent months. Continue reading “Deal watch: International firms find cure for Takeda’s £46bn pharma takeover as CMS and Pinsents tie up giant wind farm disposal”

Freshfields and Davis Polk win key roles as Comcast looks to thwart Murdoch’s Sky bid

Freshfields and Davis Polk win key roles as Comcast looks to thwart Murdoch’s Sky bid

Freshfields Bruckhaus Deringer and Davis Polk & Wardwell have landed pivotal roles as Comcast seeks to disrupt an existing bid from Rupert Murdoch’s 21st Century Fox to buy out European satellite broadcaster Sky.

The London-based Freshfields team advising Comcast comprises M&A partners Julian Long and Alison Smith, City competition partners John Davies and Michele Davis, and London employment partner Alice Greenwell. Continue reading “Freshfields and Davis Polk win key roles as Comcast looks to thwart Murdoch’s Sky bid”

Deal watch: US leaders nail key roles alongside Magic Circle on Amex, Standard Life and Fidessa plays

Deal watch: US leaders nail key roles alongside Magic Circle on Amex, Standard Life and Fidessa plays

City heavyweights Freshfields Bruckhaus Deringer and Slaughter and May have been met by Wall Street rivals Cleary Gottlieb Steen & Hamilton, Davis Polk & Wardwell and Skadden, Arps, Slate, Meagher & Flom on a host of deals marking a bumper week for public M&A.

Cleary consolidated long-standing relationships and bolstered its public M&A ambitions, advising Fidessa group on the proposed £1.4bn takeover offer from fellow financial software company Temenos Group, as well as American Express on its joint venture’s £400m takeover of Hogg Robinson. Continue reading “Deal watch: US leaders nail key roles alongside Magic Circle on Amex, Standard Life and Fidessa plays”

Deal Watch: European acquisitions generate big-ticket roles for Latham, Bakers and Bonelli

Deal Watch: European acquisitions generate big-ticket roles for Latham, Bakers and Bonelli

Latham & Watkins, Baker McKenzie, Clifford Chance (CC) and Allen & Overy (A&O) have lined up alongside a group of top independents in two multi-billion euro deals as Europe’s M&A scene maintains its brisk 2018 form.

Latham advised Global Infrastructure Partners (GIP) on the €1.94bn acquisition of Italian railway operator Italo – Nuovo Trasporto Viaggiatori (Ntv). The deal means the only privately-owned high-speed rail operator in Europe has shifted to American control after shelving plans to float on the Milan stock exchange. The Rome-based group is the country’s second-largest railway operator after state-backed Ferrovie dello Stato. Continue reading “Deal Watch: European acquisitions generate big-ticket roles for Latham, Bakers and Bonelli”

Dealwatch: the Magic Circle players kicking off 2018

Dealwatch: the Magic Circle players kicking off 2018
  • Clifford Chance (CC) and Linklaters advised as media company Informa entered talks to acquire events organiser UBM. Corporate partners Katherine Moir and Steven Fox led the CC team advising Informa on the deal, which would create a company worth £9bn. Linklaters corporate partners Michael Honan and Iain Fenn acted for UBM.
  • Linklaters also joined Kirkland & Ellis on the restructuring of South African retail holding company Steinhoff International reported to have €2.7bn in convertible bonds and debts of €10.7bn. Restructuring partners Sean Lacey and Kon Asimacopoulos led the Kirkland team advising the convertible bonds alongside Munich restructuring partner Sacha Lürken, while Linklaters’ Richard Bussell advised Steinhoff.

Continue reading “Dealwatch: the Magic Circle players kicking off 2018”