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Legal Week

Trio join up for Thomas Cook-MyTravel merger

Sullivan & Cromwell, Slaughter and May and Freshfields Bruckhaus Deringer have come together to advise on the £3bn merger between Thomas Cook and MyTravel, announced earlier today (12 February). The deal sees German-based Sullivan client KarstadtQuelle - which already owned 50% of Thomas Cook - acquire the remaining 50% of the company, which is owned by Lufthansa, before it merges with MyTravel.
8 minute read

International Edition

Trio join up for Thomas Cook-MyTravel merger

Sullivan & Cromwell, Slaughter and May and Freshfields Bruckhaus Deringer have come together to advise on the £3bn merger between Thomas Cook and MyTravel, announced earlier today (12 February). The deal sees German-based Sullivan client KarstadtQuelle - which already owned 50% of Thomas Cook - acquire the remaining 50% of the company, which is owned by Lufthansa, before it merges with MyTravel.
2 minute read

International Edition

Kirkland's City arm lands record African LBO

Kirkland & Ellis has bagged a key role advising Bain Capital on its $3.5bn (£1.7bn) acquisition of African retailer Edgars Consolidated Stores - the largest leveraged buy-out seen on the continent to date. Kirkland acted for regular client Bain, fielding a City-based team including corporate partners James Learner and Christopher Field, finance partners Stephen Gillespie and Neel Sachdev and tax partner Ian Taplin.
1 minute read

International Edition

Commentary: Linklaters' weirdly credible buy-out relaunch gets better

While the hire of Freshfields Bruckhaus Deringer acquisition finance partner David Ereira raised a few eyebrows, last week's news that Clifford Chance (CC) rising star Ian Bagshaw is to help rebuild Linklaters' buy-out team leaves little doubt that Silk Street is serious about bulking up in private equity.
4 minute read

International Edition

Lawyers try their hands for Manchester 'super-casino'

The project is also likely to generate work for firms on the six-strong panel of the Northwest Regional Development Agency, which currently includes Hammonds, Beachcroft, Eversheds and Mace & Jones, as well as Wigan's Platt & Fishwick and Warrington practice Forshaws.
3 minute read

International Edition

Stephenson Harwood and Herbies take the lead on £400m hotel portfolio sale

Stephenson Harwood has advised UK leisure group Macdonald Hotels on the £400m sale of 24 of its hotels to Moorfield Real Estate Fund (MREF). The firm, led by head of corporate Sharon White, advised on the sale. Macdonald will operate the hotels until a competitive pitch takes place to decide on new management.
1 minute read

International Edition

Skadden's City arm seals £1.3bn bond double

Skadden Arps Slate Meagher & Flom has advised insurance and financial products giant Generali Group on two major bond issues worth a combined value of £1.3bn - the biggest piece of work the firm's London office has done for the client. Skadden London finance partner James Healy led the team on the deal which saw Generali issue two bonds worth €1.25bn (£827m) and £495m. Generali will use the proceeds to repay outstanding debt under a financing agreement for the acquisition of Italian insurer Toro Assicurazioni.
1 minute read

International Edition

Olswang on the ball to net football broadcasting first

Olswang has secured a landmark radio contract for new client UTV on the auction of broadcasting rights for the FA Premier League. The City firm advised UTV, the ITV franchise for Northern Ireland, which has secured a broadcasting contract for one of seven 32-game Premier League packages for subsidiary talkSPORT.
2 minute read

International Edition

McGrigors jumps ahead of Lovells for £155m pub chain sale mandate

McGrigors has scooped an eye-catching M&A mandate ahead of Lovells, acting for retail entrepreneur Michael Cannon on the £155m sale of West Country…
2 minute read

International Edition

Trio bag roles on £570m insurance buy-out

Osborne Clarke (OC), DLA Piper and Lovells have advised on Insurance Australia Group's (IAG's) £570m buy-out of Equity Insurance Group (EIG). The deal, which closed last month, saw IAG take on EIG, one of the UK's largest motor underwriters and brokers, with a network of call centres and more than 70 high street branches across the UK.
1 minute read

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