Freshfields flying high on BAA's Gatwick sale
Freshfields Bruckhaus Deringer has bagged the lead role for BAA in the sale of Gatwick Airport. BAA confirmed yesterday (8 October) that the magic circle firm will provide corporate advice on the sale of the UK's second-largest airport. M&A partner Laurie McFadden will lead the Freshfields team advising BAA, which is putting the airport up for sale to comply with the Competition Commission's demand that it sell three of its seven UK airports. Herbert Smith, meanwhile, is advising the airport operator on real estate and competition issues. Partner Julian Pollock is leading the real estate team, while partner Stephen Wisking is handling competition matters.
October 09, 2008 at 11:35 AM
2 minute read
Freshfields Bruckhaus Deringer has bagged the lead role for BAA in the sale of Gatwick Airport.
BAA confirmed yesterday (8 October) that the magic circle firm will provide corporate advice on the sale of the UK's second-largest airport.
M&A partner Laurie McFadden will lead the Freshfields team advising BAA, which is putting the airport up for sale to comply with the Competition Commission's demand that it sell three of its seven UK airports.
Herbert Smith, meanwhile, is advising the airport operator on real estate and competition issues. Partner Julian Pollock is leading the real estate team, while partner Stephen Wisking is handling competition matters.
Freshfields and Herbert Smith have been battling for the lead advisory role for BAA since Ferrovial's £10.3bn takeover of the company in 2006. Herbert Smith was the historic adviser to BAA while Freshfields advised Ferrovial on the takeover.
While Herbert Smith has carried out extensive competition work for BAA, Freshfields looked to be in the stronger position to pick up the corporate mandate as the firm advised on its £13.3bn refinancing arrangements earlier this year and also acted on deals such as its sale of World Duty Free Europe in March.
The refinancing deal saw Freshfields finance partners Ian Falconer and Marcus Mackenzie leading the team for BAA, with Herbert Smith and Lovells advised BAA on some real estate aspects of the refinancing.
More news, deals and comment on Freshfields Bruckhaus Deringer
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