Linklaters' UK private equity team has signed its first major deal for Terra Firma, advising the private equity house on the disposal of its 50% stake in German motorway service operator Autobahn Tank & Rast.

The deal follows a competitive bidding process and is worth around €1.2bn (£807m).

Linklaters private equity head Charlie Jacobs and London private equity partner Richard Youle led the team for the magic circle firm, with German-based partners Peter Erbacher and Ralph Drebes also playing key roles.