Freshfields and Linklaters in line for share of $261m in legal fees on megabrew deal
The merger has generated nearly $2bn in advisory fees, with law firms taking a slice
August 26, 2016 at 09:01 AM
2 minute read
Anheuser-Busch InBev's acquisition of rival brewer SAB Miller has generated $1.94bn in advisory fees, with law firms receiving a $261m (£197m) share of the pot.
Freshfields Bruckhaus Deringer and Linklaters are poised to collect the lion's share of legal fees as the key advisers on the $275bn (£177bn) merger, which is due to complete in October.
AB InBev shelled out $185m (£140.1m) in legal fees, out of a total of $1.73bn (£1.31bn) paid out to other advisers including accountants and bankers.
Freshfields is the lead adviser to AB InBev and is expected to take the largest cut of the legal fees. The firm's team on the deal comprises London M&A partner Mark Rawlinson, London head of corporate Simon Marchant and antitrust partner John Davies.
Clifford Chance will also cash in, having advised the controlling shareholders of AB InBev, with a team led by global head of corporate Guy Norman and London corporate partner Patrick Sarch.
The firm is also advising the company on the financing of the transaction, with a team led by finance partners Roderick McGillivray and Peter Dahlen in London.
US firms Cravath Swaine & Moore and Sullivan & Cromwell advised on US law aspects of the deal
Meanwhile, Linklaters stands to benefit from the $76m (£57.5m)-worth of legal fees spent by SABMiller. The firm is advising the brewer on the deal with a team led by corporate partners Nick Rumsby and Charlie Jacobs. Brussels-based partner Gerwin Van Gerven is advising on competition issues.
Overall, SABMiller spent $202m (£153m) on its advisers.
Macfarlanes and Herbert Smith Freehills are also set to gain a proportion of the legal fees, after advising key shareholders for both sides. Hogan Lovells also advised the brewer on certain aspects of the deal, while Cleary Gottlieb Steen & Hamilton advised on tax matters.
AB InBev owns beer brands including Budweiser, Corona and Stella Artois, while SABMiller, which is headquartered in the UK, is home to brands such as Fosters, Grolsch, and Peroni.
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