Deals And Transactions Legal News Coverage

International Edition

Macquarie-style US push could show lawyers the way

By a:1:{i:0;s:1:" ";} | January 31, 2007

Given the insecurity that has dogged projects teams at top London firms in recent years, evidence of a revival in the sector will be manna from heaven for hard-pressed partners. The year-end tables from Infrastructure Journal make clear the extent of that revival with the global value of projects in 2006 up 35% against 2005, and the number of deals rising from 323 to 437. Add in surging investment in renewable energy and it was the best year in projects since the 1990s.While much of the attention has focused on the wealth of projects work coming out of the Middle East and intense competition for infrastructure assets in Europe, it is interesting to see Allen & Overy (A&O) highlight the opportunities opening up in the US. This revolves around the drift towards European-style project finance structures. To the very casual observer, this appears odd given the maturity, size and sophistication of the US market. But for the private sector, the backbone of the US projects market has always been power. Backed by a highly-efficient system of federal funding and tax breaks, transport/infrastructure work has largely been financed, and built, through public money.

4 minute read

Legal Week

Dentons rolls up sleeves to restructure Focus DIY

By a:1:{i:0;s:1:" ";} | January 31, 2007

Denton Wilde Sapte has edged Ashurst aside to land a lead role on the high-profile restructuring of retailer Focus DIY.Dentons banking and insolvency partner Graham Paine is acting for the senior lenders - a consortium of banks led by ING and Barclays holding around £180m of senior debt.

18 minute read

International Edition

Dentons rolls up sleeves to restructure Focus DIY

By Georgina Stanley | January 31, 2007

Denton Wilde Sapte has edged Ashurst aside to land a lead role on the high-profile restructuring of retailer Focus DIY.Dentons banking and insolvency partner Graham Paine is acting for the senior lenders - a consortium of banks led by ING and Barclays holding around £180m of senior debt.

2 minute read

Legal Week

CC handed plum role by Candover for first Italian and Spanish acquisitions

By a:1:{i:0;s:1:" ";} | January 31, 2007

Clifford Chance (CC) has advised Candover on the private equity giant's first acquisitions in Italy and Spain.CC advised regular client Candover on its acquisition of luxury yacht manufacturer Ferretti in a deal thought to be worth more than €1.5bn (£987m). The deal, which closed last week, saw Candover acquire Ferretti from Permira and the company's chairman, Noberto Ferretti. The sellers were advised by Italian firm Grimaldi. Permira and Noberto Ferretti re-invested to take a 40% stake.

5 minute read

International Edition

CC handed plum role by Candover for first Italian and Spanish acquisitions

By Charlotte Edmond | January 31, 2007

Clifford Chance (CC) has advised Candover on the private equity giant's first acquisitions in Italy and Spain.CC advised regular client Candover on its acquisition of luxury yacht manufacturer Ferretti in a deal thought to be worth more than €1.5bn (£987m). The deal, which closed last week, saw Candover acquire Ferretti from Permira and the company's chairman, Noberto Ferretti. The sellers were advised by Italian firm Grimaldi. Permira and Noberto Ferretti re-invested to take a 40% stake.

2 minute read

Legal Week

Slaughters leads on M&S pensions deal

By a:1:{i:0;s:1:" ";} | January 31, 2007

Slaughter and May and Linklaters are advising on Marks & Spencer's (M&S) pensions restructuring, as the retailer pours £500m into its pension pot via a property partnership. Slaughters corporate partner Andy Ryde advised the UK retail giant along with finance partner Marc Hutchinson, tax partner Steve Edge, property partner David Waterfield and pensions partner Roland Doughty. Linklaters managing associate Isabel France advised the pensions fund trustees.

3 minute read

International Edition

Slaughters leads on M&S pensions deal

By Charlotte Edmond | January 31, 2007

Slaughter and May and Linklaters are advising on Marks & Spencer's (M&S) pensions restructuring, as the retailer pours £500m into its pension pot via a property partnership. Slaughters corporate partner Andy Ryde advised the UK retail giant along with finance partner Marc Hutchinson, tax partner Steve Edge, property partner David Waterfield and pensions partner Roland Doughty. Linklaters managing associate Isabel France advised the pensions fund trustees.

2 minute read

Legal Week

Forsters and BLP lead on £500m Tesco sale lease

By a:1:{i:0;s:1:" ";} | January 31, 2007

Property boutique Forsters and Berwin Leighton Paisner (BLP) have taken the lead roles on a joint venture worth almost £500m between the BA Pension Fund and supermarket chain Tesco.The deal involved the two teaming up for a property joint venture worth around £445m through the sale and leaseback of 16 properties in Tesco's UK portfolio.It is part of Tesco's plan, announced in April 2006, to secure £5bn over five years through an extensive sale and leaseback programme of its properties. Forsters started working on the transaction for longstanding client the BA Pension Fund in November last year, with the deal closing shortly before the end of 2006.

4 minute read

International Edition

Forsters and BLP lead on £500m Tesco sale lease

By Georgina Stanley | January 31, 2007

Property boutique Forsters and Berwin Leighton Paisner (BLP) have taken the lead roles on a joint venture worth almost £500m between the BA Pension Fund and supermarket chain Tesco.The deal involved the two teaming up for a property joint venture worth around £445m through the sale and leaseback of 16 properties in Tesco's UK portfolio.It is part of Tesco's plan, announced in April 2006, to secure £5bn over five years through an extensive sale and leaseback programme of its properties. Forsters started working on the transaction for longstanding client the BA Pension Fund in November last year, with the deal closing shortly before the end of 2006.

2 minute read

International Edition

Middle East client hands Jones Day $128m role on Mauritania oil deal

By a:1:{i:0;s:1:" ";} | January 31, 2007

Jones Day has acted opposite Linklaters on a $128m (£65m) acquisition of the entire Mauritania interests of BG Group to the Kuwait Foreign Exploration Company (KUFPEC).Jones Day's London arm represented existing client KUFPEC, with the head of its oil and gas practice, Peter Roberts, leading the team along with associate Mai Al-Matrook.

1 minute read

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