Ashurst's German arm wins first Apollo mandate
Legal Week reports
October 25, 2006 at 08:03 PM
1 minute read
Ashurst's German arm has carried out its first major mandate for US private equity giant Apollo Management, advising on its €1.5bn (£1bn) acquisition of Dutch mail company TNT's logistics branch.
The City giant bagged a secondary role behind regular Apollo adviser Wachtell Lipton Rosen & Katz on the deal, which was carried out under Dutch law but involved German law aspects due to the majority of the target's assets being situated in Germany.
Ashurst fielded a team including its Madrid, Milan and Paris offices, led by Munich corporate partner Meiko Zeppenfeld and Frankfurt partners Stephan Kock and Tom Beckerhoff.
The deal also generated a role for magic circle firm Allen & Overy, which represented the vendor.
The mandate comes as Ashurst continues to rebuild its German private equity practice following the defection of heavyweight partner Joerg Kirchner, who quit to launch Latham & Watkins' Munich office in December last year.
German managing partner Simon Beddow commmented: "This is an excellent deal for us to work on.
"It shows our European network can work together with a top US firm."
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