Travers, Norton Rose win roles on Commerzbank's E1bn sale
City firms Norton Rose and Travers Smith have landed roles on Commerzbank's E1bn (£740m) sale of its UK asset management arm, Jupiter. The duo advised the company's management and its backer, TA Associates, on the deal, worth slightly more than E1bn, acting opposite Clifford Chance (CC).
March 28, 2007 at 10:11 PM
2 minute read
City firms Norton Rose and Travers Smith have landed roles on Commerzbank's E1bn (£740m) sale of its UK asset management arm, Jupiter.
The duo advised the company's management and its backer, TA Associates, on the deal, worth slightly more than E1bn, acting opposite Clifford Chance (CC).
Norton Rose corporate partner Simon Sackman and acquisition finance partner Ashley Allton advised the management. Travers Smith corporate partner David Innes acted for US-based buy-out house TA Associates, which funded the transaction. Innes was assisted by corporate associate Caroline Murphy and banking partner Jeremy Walsh.
TA Associates, a relatively new client for Travers, has a focus on asset management buy-outs and manages more than E7.7bn (£5.2bn), with more than E2bn (£1.4bn) invested in financial services companies.
The agreement will see senior management buy out Jupiter by July 2007 and will allow Commerzbank, Germany's second-largest bank, to concentrate its business on its core domestic market.
Jupiter employs more than 450 staff and has £19.2bn under management. In the past, the company has handed a regular stream of work to Simmons & Simmons and Norton Rose.
In 2001 Norton Rose advised Jupiter on the launch of two trusts, Jupiter Financial & Income Trust and Jupiter Global Green Trust.
The transaction is subject to regulatory clearance, which is expected by early summer.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View All
A&O Shearman, Hogan Lovells & 10 Top Stories That Shaped Africa in 2024
4 minute read
Christmas Mega-Deal Roundup: Direct Line, Wingstop and Foxtel Find Buyers
3 minute read
Freshfields, MoFo Act on $1.8B TOPPAN Deal As Japan's US Buying Spree Continues
Trending Stories
- 1Former President of New York State Bar, and the New York Bar Foundation, Dies As He Entered 70th Year as Attorney
- 2Legal Advocates in Uproar Upon Release of Footage Showing CO's Beat Black Inmate Before His Death
- 3Longtime Baker & Hostetler Partner, Former White House Counsel David Rivkin Dies at 68
- 4Court System Seeks Public Comment on E-Filing for Annual Report
- 5Foreign-Company Lobbyists Would Need to Register Under Proposed DOJ Regulation
Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250
