City giants drink to Whyte & Mackay sale
Allen & Overy (A&O) and Linklaters have secured roles on the £595m acquisition of Scottish distiller Whyte & Mackay by India's United Spirits. Linklaters advised United Spirits on the purchase, fielding a team led in London by corporate managing associate Jessamy Gallagher and in Hong Kong by banking partners Trevor Clark and Chris Bradley. A&O advised funding providers ICICI Bank and Citigroup on debt facilities worth £325m and $618m (£313m) respectively.
May 18, 2007 at 08:39 AM
2 minute read
Allen & Overy (A&O) and Linklaters have secured roles on the £595m acquisition of Scottish distiller Whyte & Mackay by India's United Spirits.
Linklaters advised United Spirits on the purchase, fielding a team led in London by corporate managing associate Jessamy Gallagher and in Hong Kong by banking partners Trevor Clark and Chris Bradley.
A&O advised funding providers ICICI Bank and Citigroup on debt facilities worth £325m and $618m (£313m) respectively.
Banking partner Sanjeev Dhuna led a City-based team for A&O advising ICICI Bank on what represents its largest European deal to date. The magic circle firm advised Citigroup from its Hong Kong office.
Commenting on the deal, Dhuna said: "United Spirits' acquisition of Whyte & Mackay highlights the growing demand for foreign assets and access to foreign markets by Indian companies. It also demonstrates the increasing presence of ICICI in the European market and this deal represents their largest acquisition financing deal in Europe to date."
He added: "This is a trend we are likely to see continue as more Indian companies seek international financing for their growth aspirations."
United Spirits is part of the Indian-based UB Group and the deal hands White & Mackay access to India and other emerging markets.
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