Ladbrokes turns to Slaughters for Gala Coral merger
Magic circle firm is advising the bookie in its talks with rival Gala Coral to create a £951m turnover company
June 23, 2015 at 07:03 PM
2 minute read
Slaughter and May is advising Ladbrokes in its merger talks with rival betting company Gala Coral, in a deal that would create a UK gambling company with a turnover of £951m.
The magic circle firm's corporate head, Andy Ryde, is leading a team that also includes associates Victoria MacDuff and Tom Braiden.
Ashurst is representing Gala Coral in the discussions.
The Ashurst team is being led by global co-head of corporate Simon Beddow, together with corporate partners Dominic Ross and Jonathan Parry. The firm's team also includes finance partner Helen Burton, tax partner Alex Cox and pensions partner Marcus Fink.
Ladbrokes currently has 2,150 betting shops across the UK, and the deal would see it acquire Gala Coral's 1,800 outlets.
Jim Mullen, chief executive of Ladbrokes, said: "My plans are well advanced and I look forward to presenting them to shareholders."
In 2013 Ladbrokes completed an overhaul of its legal panel, cutting the roster from 50 to 22 firms. The cull was led by Ladbrokes general counsel and former SJ Berwin partner Jonathan Adelman.
Slaughters, SJ Berwin, Clyde & Co and South West firm Trethowans were among the appointees to the FTSE 250 company's main legal panel.
Ladbrokes also appointed eight firms to a variety of legal roles: Freshfields Bruckhaus Deringer, Harold Benjamin, Burness Paull, Jonathan Rose, Onside Law, Reed Smith, legacy Dickinson Dees and Gateley.
Ten other firms also sit on the panel for specific areas, including gaming specialists Harris Hagan, Olswang and DLA Piper, alongside BrookStreet des Roches, which advises on real estate matters.
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