Weil Gotshal wins first UK role for Providence
The London office of Weil Gotshal & Manges has landed its first advisory role for Providence Equity Partners, advising the buy-out house as part of a consortium on the A$3.8bn (£1.5bn) acquisition of Australia's APN News & Media.The consortium - which also included US private equity house Carlyle and Dublin-based Independent News & Media - acquired the 58% of APN not already held by Independent News.
February 19, 2007 at 06:15 AM
2 minute read
The London office of Weil Gotshal & Manges has landed its first advisory role for Providence Equity Partners, advising the buy-out house as part of a consortium on the A$3.8bn (£1.5bn) acquisition of Australia's APN News & Media.
The consortium – which also included US private equity house Carlyle and Dublin-based Independent News & Media – acquired the 58% of APN not already held by Independent News.
Weil Gotshal corporate partner Jonathan Wood led the team advising Providence and Carlyle, alongside corporate associate James Swan. Freshfields Bruckhaus Deringer corporate partner David Sonter advised Independent News in the UK.
The consortium as a whole was advised by Allens Arthur Robinson media lawyer Ian McGill in Australia. APN was advised by Blake Dawson Maxwell corporate lawyer Philip Maxwell.
The deal represents Wood's first instruction from Providence since he joined Weil Gotshal from Lovells this time last year. Weil Gotshal has a longstanding relationship with Providence in the US and has an office in Rhode Island specialising in private equity work for the client.
Wood commented: "It was good for us to see both clients coming together. Carlyle is not a regular client of ours and it is always good to get exposure to other private equity houses."
He added: "It is one of the first deals [of its kind] to be done since a number of media laws were relaxed in Australia."
Pending regulatory agreement, the deal is expected to be completed towards the end of April 2007.
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