Clydes, Slaughters, Travers and Ashurst advise as Liberty House bids to buy Tata Steel UK
Tata Steel is in the process of selling all of its UK operations, it recently also turned to Slaughter and May on another sale
May 04, 2016 at 04:52 AM
6 minute read
The original version of this story was published on Law.com
Clyde & Co, Slaughter and May, Travers Smith and Ashurst have all landed roles as metals group Liberty House bids for Tata Steel's UK assets, including the company's plant at Port Talbot.
Clydes' team is being led by corporate partner Simon Vere Nicoll and commodities partner Michael Swangard.
Liberty House is a longstanding client of Clydes. The firm advised on the company's acquisition of the Newport/Uskmouth Power Station in 2014-15, the Caparo Steel processing business last year and the Tata Plate Mill and finishing plant in Scotland that completed last week.
Slaughter and May is understood to be advising Tata on the sale with a team led by corporate partner Gary Eaborn and including finance partners Ian Johnson and Andrew McClean, corporate partner Padraig Cronin, real estate partner John Nevin, tax partner Gareth Miles and IP partner Cathy Connolly and pensions partner Charles Cameron.
The trustees of the British Steel Pensions scheme are being advised by Travers Smith with a team led by the firm's head of pensions, Paul Stannard, and finance partner Jeremy Walsh.
Ashurst is advising the government on the deal with a team including employment partner Marcus Fink.
Last month, Forsters and Slaughters landed the lead adviser roles as Tata sold its European long products business to investment company Greybull Capital.
Greybull reportedly plans to invest £400m in the business.
Slaughter and May is advising Tata on the sale, alongside financial adviser KPMG. The Slaughters team on the deal is being led by corporate partner Gary Eaborn. The team also includes finance partners Ian Johnson and Andrew McClean, real estate partner John Nevin, tax partner Gareth Miles, IP partner Cathy Connolly and environment senior counsel Samantha Brady.
Forsters is advising Greybull Capital on all aspects of the deal. Its team is being led by corporate partner Craig Thompson.
Slaughters previously advised Corus on Tata's £4bn purchase of the company a decade ago, which handed the Mumbai-based group a major foothold in Europe.
Tata Steel announced in March it would be selling all of its UK operations.
The loss-making works were bought by the Indian conglomerate in 2007. During the past decade, its business has been hit hard by cheap Chinese steel imports and falling commodity prices.
Clydes' team is being led by corporate partner Simon Vere Nicoll and commodities partner Michael Swangard.
Liberty House is a longstanding client of Clydes. The firm advised on the company's acquisition of the Newport/Uskmouth Power Station in 2014-15, the Caparo Steel processing business last year and the Tata Plate Mill and finishing plant in Scotland that completed last week.
Slaughter and May is understood to be advising Tata on the sale with a team led by corporate partner Gary Eaborn and including finance partners Ian Johnson and Andrew McClean, corporate partner Padraig Cronin, real estate partner John Nevin, tax partner Gareth Miles and IP partner Cathy Connolly and pensions partner Charles Cameron.
The trustees of the British Steel Pensions scheme are being advised by Travers Smith with a team led by the firm's head of pensions, Paul Stannard, and finance partner Jeremy Walsh.
Last month, Forsters and Slaughters landed the lead adviser roles as Tata sold its European long products business to investment company Greybull Capital.
Greybull reportedly plans to invest £400m in the business.
Slaughter and May is advising Tata on the sale, alongside financial adviser
Forsters is advising Greybull Capital on all aspects of the deal. Its team is being led by corporate partner Craig Thompson.
Slaughters previously advised Corus on Tata's £4bn purchase of the company a decade ago, which handed the Mumbai-based group a major foothold in Europe.
Tata Steel announced in March it would be selling all of its UK operations.
The loss-making works were bought by the Indian conglomerate in 2007. During the past decade, its business has been hit hard by cheap Chinese steel imports and falling commodity prices.
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