Slaughter and May and Freshfields Bruckhaus Deringer have been hired to advise on ITV's acquisition of the production company behind shows such as The Voice, I Love My Country and Dating In The Dark.

Netherlands-based Talpa, which was founded by Big Brother creator John de Mol, has agreed to an initial cash consideration of around £355m for 100% of the shares.

Future payments from ITV based on Talpa's performance could take the deal's value up to £781m.

Slaughters was instructed by ITV, while Freshfields is acting for Talpa.

The Freshfields team is being led by corporate partner Harald Spruit in Amsterdam.

The Slaughters team is being headed by corporate and commercial partner Paul Dickson, intellectual property partner David Ives, competition partner Bertrand Louveaux and tax partner Gareth Miles.

Slaughters has fostered close links with ITV since being reappointed to the broadcaster's panel in 2012. The firm previously advised on ITV's £56m acquisition of the freehold on London Television Centre, the company's South Bank headquarters and studios in 2013.

Other firms on ITV's roster include DLA Piper, Hogan Lovells, legacy Charles Russell and Wiggin.

The Talpa transaction will be financed through existing cash resources and new debt facilities and is expected to close during the second quarter of 2015, subject to regulatory approval.

Some future considerations as part of the offer are dependent on de Mol's "continued commitment to the business" over the next eight years.