NGT halves roster after post-merger panel review
Legal Director reports
January 07, 2004 at 07:03 PM
2 minute read
Energy giant National Grid Transco (NGT) has slashed its property panel, reducing its 30-firm roster to 14, following a post-merger panel review.
The panel appointments, announced to successful firms last week, will last for two years and several national firms including Hammonds, Wragge & Co, Osborne Clarke and Burges Salmon are believed to be on the panel.
City firms such as Field Fisher Waterhouse and Bircham Dyson Bell are also understood to have made the panel along with some smaller firms, although it is understood that no big City firms have been appointed.
The panel firms will advise on NGT's property transactions for its electricity and gas operations throughout England and Wales. The company decided to slim down the panel in order to get reduced rates and ease the in-house department's administration. "The company had to get rid of a number of good advisers and so the pitch was very competitive," said one partner.
NGT senior in-house counsel Ian Leedham, who oversaw the review, said: "The successful panel firms demonstrated a commitment and understanding of NGT's business and a willingness to provide flexible quality and cost-effective advice." The changes follow the appointment of company secretary Helen Mahy as the company's general counsel.
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