Skadden, CC among legal line-up on BlackRock's Credit Suisse purchase
Skadden Arps Slate Meagher & Flom and Clifford Chance (CC) are among a line-up of firms advising on asset manager BlackRock's acquisition of Credit Suisse's exchange traded funds (ETF) business. The terms of the deal are undisclosed, but the transaction is reportedly worth between $200m (£124m) and $300m (£186m). The ETF business has around CHF16bn (£10.8bn) of client assets under management.
January 17, 2013 at 07:04 PM
2 minute read
Skadden Arps Slate Meagher & Flom and Clifford Chance (CC) are among a line-up of firms advising on asset manager BlackRock's acquisition of Credit Suisse's exchange traded funds (ETF) business.
The terms of the deal are undisclosed, but the transaction is reportedly worth between $200m (£124m) and $300m (£186m). The ETF business has around CHF16bn (£10.8bn) of client assets under management.
Skadden's London arm advised BlackRock on corporate aspects of the deal, with a team comprising City corporate partner Shaun Lascelles, European investment management head Stephen Sims and Europe private capital co-head James Anderson, with support from Brussels competition partner Frederic Depoortere and corporate counsel Patrick Brandt.
Swiss firm Lenz & Staehelin provided local law advice, while Ireland's William Fry advised on Irish law with a team led by asset management partner Tara O'Reilly.
Linklaters provided Luxembourg and employment counsel with Luxembourg-based global investment managers co-head Freddy Brausch. CC, Maples and Calder and Switzerland's CMS von Erlach Henrici represented Credit Suisse on the transaction. CC's team, which advised on international matters, was headed up by corporate finance partner Alex Erasmus.
CMS handled Swiss aspects of the deal, while offshore firm Maples and Calder provided Irish counsel with a team led by Dublin investment funds head Barry McGrath.
The role for Skadden comes after the firm also advised BlackRock on its 2009 purchase of Barclays Global Investors for $6.6bn (£4bn), a deal which saw Linklaters, CC and Sullivan & Cromwell take related roles.
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