Clifford Chance, Skadden full of beans over $7bn coffee merger
Clifford Chance and Skadden Arps Slate Meagher & Flom are among the firms advising on the $7bn (£4bn) merger between Douwe Egberts owner DE Master Blenders 1753 and US confectionary giant Mondelez's coffee business.
May 09, 2014 at 04:33 AM
2 minute read
Clifford Chance (CC) and Skadden Arps Slate Meagher & Flom are among the firms advising on the $7bn (£4bn) merger between Douwe Egberts owner DE Master Blenders (DEMB) 1753 and US confectionary giant Mondelez's coffee business.
The new company, called Jacobs Douwe Egberts, will house the US company's coffee brands, which include Carte Noire, Jacobs, Kenco, Millicano and Tassimo, alongside DEMB's Douwe Egberts coffee and Senseo capsules.
It would have combined revenue of more than $7bn and is set to be based in the Netherlands. As part of the deal, DEMB has handed Mondelez around $5bn (£2.9bn) in cash and a 49% stake in the new company.
CC represented Mondelez on corporate aspects with a team led by New York corporate partner Sarah Jones and London corporate partner Robert Crothers, and with support from City employment partner Imogen Clark and London intellectual property partner Vanessa Marsland.
Arnold & Porter's London office acted for Mondelez on competition matters, with a team comprising partners Tim Frazer and Susan Hinchliffe.
Skadden's New York and London offices acted for German investment firm Joh A Benckiser (JAB), which acquired the majority of DEMB last year. The New York team included M&A partners Sean Doyle and Paul Schnell, banking partners Robert Copen and Steven Messina and intellectual property partner Jose Esteves, while the London base fielded banking partners Mark Darley.
Freshfields Bruckhaus Deringer Berlin partner Helmut Bergmann and London partner Alex Potter advised DEMB on regulatory issues. Stibbe also provided counsel to DEMB. Weil Gotshal & Manges acted for the banks.
Last April, Skadden and Allen & Overy (A&O) were among the line-up of firms acting on JAB's €7.5bn (£4.4bn) bid to acquire DEMB. Skadden acted for JAB alongside Benelux firm Stibbe, while A&O and De Brauw Blackstone Westbroek represented DEMB. CC advised the banks on the deal.
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