Dentons Advises Network Rail On British Steel Bid
The firm has won a lead role advising on the latest bid for a part of the collapsed company.
July 01, 2019 at 09:17 AM
2 minute read
Dentons is advising Network Rail as it seeks to buy British Steel's railway arm, following the company's collapse earlier this year.
State-owned Network Rail is looking to take over the division, which welds, finishes and stores rails for the UK's train network.
The Dentons team advising Network Rail is comprised of client relationship partner Matthew Hanslip-Ward, restructuring partner Neil Griffiths and corporate partner Richard Barham.
Last month, Magic Circle firm Clifford Chance was appointed as the official receiver for British Steel and was managing all prospective offers for the firm's assets. The CC team is being led by Philip Hertz and Iain White.
One person familiar with the matter added that corporate partners Nick Rees and David Lewis are also advising on the bid process for British Steel.
The company was founded in 2016 when investment group Greybull Capital bought the Long Products Europe business of Tata Steel. It owns steelmaking facilities across the U.K. and France, and supplies steel products to manufacturing sites around the world.
Before it entered insolvency, British Steel turned to CMS to advise it on its restructuring negotiations with the government and other key stakeholders. Corporate partner Gareth Saynor and restructuring partner Glen Flannery led for the City firm.
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