Slaughter and May and Cravath Swaine & Moore have a longstanding referral relationship.Slaughters and Cravath Deploy 'Integrated Team' for $3.6B Centrica Deal
The deal reflects a deepening of the relationship between the UK and US corporate heavyweights.
July 24, 2020 at 06:01 AM
2 minute read
Slaughter and May and Cravath Swaine & Moore have leveraged their transatlantic partnership to act on British energy provider Centrica's agreement to sell its North American energy supply for $3.6 billion in cash.
Slaughters said in a statement that the two firms worked as an "integrated team" on the deal, which sees Centrica offload its Houston-based subsidiary, Direct Energy, to American business NRG Energy.
New York heavyweight firm Cravath has long been one of Slaughters' closest allies in the U.S. with the two firms having frequently worked together on major transatlantic deals.
Slaughter and May corporate partners Hywel Davies and Rob Innes and tax partner Gareth Miles advised longtime client Centrica on the transaction, alongside Cravath corproate partners Erik Tavzel and Andrew Elken, both of whom are based in New York.
Last year, Slaughters and Cravath teamed up to publish a joint briefing about blockchain for the first time, in what was a notable expansion of their longstanding referral relationship.
In June, the two firms again worked together alongside Dutch firm De Brauw Blackstone Westbroek, one of Slaughters' European 'Best Friend' firms, to advise food delivery service Just Eat on its £5.75 billion merger with Takeaway.com.
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UK Firms Looking Across the Pond Risk Entering No-Man's Land
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