Magic circle duo, Skadden and Ashurst lead on £3.9bn sale of Costa to Coca-Cola
The fizzy drink giant is acquiring the coffee chain from parent company Whitbread, which bought Costa in 2011
August 31, 2018 at 05:39 AM
2 minute read
Clifford Chance (CC), Slaughter and May, Skadden Arps Slate Meagher & Flom and Ashurst have won roles on the sale of coffee chain Costa to global drinks producer Coca-Cola for £3.9bn.
Slaughter and May is advising Costa parent company Whitbread on the sale. Longstanding client Whitbread also owns the Premier Inn hotel chain and the Beefeater and Brewers Fayre restaurant brands.
Slaughters' team includes corporate partners Martin Hattrell and Simon Nicholls, intellectual property partner Duncan Blaikie, tax partner Mike Lane, real estate partner Jane Edwarde, pensions and employment partners Jonathan Fenn and Phil Linnard, competition partner Anna Lyle-Smythe and financing partner Matthew Tobin.
Slaughters worked alongside Whitbread's in-house legal team including general counsel Chris Vaughan, legal director and deputy company secretary Russell Fairhurst and senior commercial counsel Sunita Savjani.
In 2011, Slaughters advised Whitbread on its £59.5m acquisition of Coffee Nation.
Clifford Chance is advising Coca-Cola on corporate matters with a team headed by M&A partners Robert Crothers and Gareth Camp, while Skadden is advising Coca-Cola on tax aspects of the purchase with a team led by London-based tax partner Alex Jupp.
Skadden has acted for iconic brands for several years, advising on the $4.1bn (£2.1bn) purchase of energy drinks company Energy Brand in 2007. Skadden fielded a team out of its New York office led by M&A partners Martha McGarry and Sean Doyle.
Meanwhile, Ashurst is advising Whitbread's banks – Goldman Sachs and Morgan Stanley – on the transaction. Corporate partner Karen Davies is leading the firm's team.
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