A&O and Simpson Thacher Field Women-Led Teams on £4.2B Recycling Deal
Private equity giant KKR is buying one of waste management company Pennon Group's subsidiaries.
March 19, 2020 at 07:38 AM
2 minute read
Simpson Thacher has won yet another mandate for KKR.
Allen & Overy and Simpson Thacher & Bartlett are advising on the sale of U.K. waste company Pennon Group's recycling business to one of private equity giant KKR's newly-foundde company.
Pennon Group is selling its subsidiary Viridor, a recycling and waste management company, to Planets UK Bidco, a new company formed by private equity house KKR. The transaction is worth £4.2 billion, according to Pennon Group's statement.
Allen & Overy is advising the group on the sale of its subsidiary with a team led by London corporate partner Gillian Holgate.
Holgate was supported by partners Matt Townsend on environmental matters, Jim Ford on the commercial side, Mark Friend on antitrust issues, Jane Higgins on pensions, Paul McCarthy on incentives, as well as banking partner Greg Brown and tax partner Vimal Tilakapala.
Meanwhile, Simpson Thacher is advising long-standing client KKR on the deal. The team is being led by London-based corporate partners Amy Mahon and Clare Gaskell, as well as finance partner Sinead O'Shea.
Simpson Thacher has won several major mandates for KKR across the globe in the past year. In Germany, the firm advised the fund alongside Freshfields Bruckhaus Deringer on its acquisition of European digital publishing giant, Axel Springer.
Last summer, Simpson Thacher also advised the private equity firm alongside Linklaters on its $2.2 billion acquisition of Australia's Arnott's Biscuits, owned by Campbell's Soup Company.
The firm is also advising on smart meter firm Calisen Group Holdings' proposed initial public offering on the London Stock Exchange. The company is also owned by KKR.
Read more:
US duo rev up for Fiat Chrysler's €6.2bn car component business sale
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