Ashurst, A&O among advisers on Doughty's £935m Vue cinema sale
Allen & Overy (A&O), Ashurst, Debevoise & Plimpton and Skadden Arps Slate Meagher & Flom have all taken roles on the £935m sale of cinema chain Vue Entertainment by private equity firm Doughty Hanson to two Canadian investor groups. The transaction, which is expected to close later this summer, has seen OMERS Private Equity and Alberta Investment Management Corporation (AIMCo) buy the business, which operates 146 cinemas in the UK and Europe.
June 10, 2013 at 11:24 AM
2 minute read
Allen & Overy (A&O), Ashurst, Debevoise & Plimpton and Skadden Arps Slate Meagher & Flom have all taken roles on the £935m sale of cinema chain Vue Entertainment by private equity firm Doughty Hanson to two Canadian investor groups.
The transaction, which is expected to close later this summer, has seen OMERS Private Equity and Alberta Investment Management Corporation (AIMCo) buy the business, which operates 146 cinemas in the UK and Europe.
Vue Entertainment was acquired by Doughty Hanson in 2010 for £450m, before expanding into Europe with the acquisitions of cinema chains CinemaxX and Multikino in Germany and Poland respectively.
A&O advised OMERS, having represented the client since it first launched in London in 2009. Private equity partner Gordon Milne was the lead partner on the deal alongside senior associate Joanna Elvidge. Additional advice was provided by financing partner Jonathan Brownson, while senior associate Jonathan Parker advised on antitrust matters.
Milne also advised the group on its purchase of Lifeways Community Care from August PE in 2012.
Ashurst took the lead role for AIMco, in the firm's first European private equity deal for the group, with global corporate head Stephen Lloyd advising alongside senior associate Nicola Burke and tax partner Richard Palmer.
Lloyd commented: "Ashurst has had a good relationship with AIMco for some time but this is our first European private equity deal for them. We were delighted to have the opportunity to showcase our private equity expertise on a marquee deal like this."
Meanwhile, Skadden advised longstanding client Doughty Hanson, with London corporate partner Allan Murray-Jones leading a team together with corporate partner Shaun Lascelles.
Debevoise took a role for Vue's management team, with London corporate partner David Innes leading a team that included tax partner Richard Ward.
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