Bakers and CC bag £686m SR Technics sale
By Georgina Stanley
September 12, 2006 at 08:03 PM
2 minute read
Baker & McKenzie and Clifford Chance (CC) have taken the lead roles on the CHF1.6bn (£686m) sale of SR Technics by private equity house 3i.
CC is acting for the acquiring consortium made up of United Arab Emirates investors Dubai Aerospace Enterprise, Mubadala Development and Istithmar with London private equity partner Simon Cooke leading the team.
Bakers acted for the sellers, 3i and Star Capital on the disposal with Zurich-based corporate partner Martin Frey and banking partner Marcel Giger leading the Swiss team.
Baker & McKenzie also acted for 3i and Star Capital when they bought the company, which provides technical services and maintenance to airlines, from the administrators of Swissair after the airline collapse in 2002.
Frey told Legal Week: "I think this was the biggest deal in Switzerland this year and it was interesting because is was a dual track proceeding – on the one hand the company was getting ready for an IPO but there was also the possibility of a sale."
The management of SR Technics turned to Swiss firm Niederer Kraft & Frey advised.
The sale was agreed on 7 September and is expected to close in October.
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