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International Edition

Wragges wins role alongside Weil on private equity sale of Phones 4u

Wragge & Co has picked up a role advising alongside Weil Gotshal & Manges and Dickson Minto on the private equity sale of Phones 4u. National firm Wragges is advising Phones 4u's management on the deal, which sees the company switch hands from Providence Equity Partners to BC Partners. Birmingham corporate partner Baljit Chohan took the lead role for the firm.
2 minute read

International Edition

CC and White & Case lead on €2.5bn European gas pipeline debt transaction

White & Case and Clifford Chance (CC) have taken lead roles on a €2.5bn (£2.2bn) debt transaction that has completed the financing of the Nord Stream pipeline project. The loans pave the way for the second phase of construction of the natural gas pipeline which will run from Russia to Germany, with the total cost of the project estimated at around €7.5bn (£6.5bn).
2 minute read

International Edition

A Cannes-do attitude fails to cement itself at MIPIM

Given last week's headline-grabbing arrest of property tycoons Robert and Vincent Tchenguiz as part of a Serious Fraud Office (SFO) investigation into the collapse of Icelandic bank Kaupthing, there's no doubt which topic dominated discussion at the mammoth real estate schmooze-fest that is Marche International des Professionnels d'Immobilier (MIPIM). But while even in their absence the Tchenguiz brothers' yacht party was clearly the place to be in Cannes, property lawyers more generally are not in the mood for parties right now. As one partner comments: "The one night we went to Hotel Martinez it was empty as everyone had gone somewhere cheaper... we're still a long way from the exuberance of pre-2007, after all."
4 minute read

Legal Week

A Cannes-do attitude fails to cement itself at MIPIM

Given last week's headline-grabbing arrest of property tycoons Robert and Vincent Tchenguiz as part of a Serious Fraud Office (SFO) investigation into the collapse of Icelandic bank Kaupthing, there's no doubt which topic dominated discussion at the mammoth real estate schmooze-fest that is Marche International des Professionnels d'Immobilier (MIPIM). But while even in their absence the Tchenguiz brothers' yacht party was clearly the place to be in Cannes, property lawyers more generally are not in the mood for parties right now. As one partner comments: "The one night we went to Hotel Martinez it was empty as everyone had gone somewhere cheaper... we're still a long way from the exuberance of pre-2007, after all."
12 minute read

International Edition

Magic circle duo line up on Qatar Holding's €2.1bn Iberdrola deal

Freshfields Bruckhaus Deringer, Allen & Overy (A&O) and Uria Menendez have all taken roles on Qatar Holding's €2.1bn (£1.8bn) investment in Spanish utility company Iberdrola. Freshfields acted for Qatar Holdings, fielding a London team led by corporate partners Sarah Murphy and Bruce Embley alongside tax partner Jonathan Cooklin.
2 minute read

International Edition

Freshfields heads up five firms on £2.7bn Daimler/Rolls-Royce deal

Freshfields Bruckhaus Deringer has taken a lead role on a £2.7bn deal which will see a Daimler/Rolls-Royce joint venture acquire German diesel engine maker Tognum for $4.4bn, reports The Am Law Daily. Freshfields M&A partner Andreas Fabritius and finance partner Christoph Gleske in Frankfurt are advising Daimler, along with corporate partner Ferdinand Fromholzer in Munich. The Freshfields team is working with Holger Jahn, head of Daimler's in-house legal M&A group.
2 minute read

International Edition

SNR Denton scores lead role on £440k Watford FC takeover bid

SNR Denton has taken a lead role on the takeover bid for Watford Football Club. The London office of the transatlantic firm is advising the Championship football club's parent company - AIM-listed Watford Leisure PLC - on the £440,000 bid launched on the London Stock Exchange yesterday (10 March) by Watford FC Limited.
2 minute read

International Edition

Damn Brussels, forcing us to be more profitable

Normally, a story involving actuarial valuations struggles to inflame passions, let alone one about a European Court of Justice (ECJ) ruling on actuarial valuations. But throw in a bit of well-timed Euro-bashing – the judgment coming in the wake of a controversial ruling on prisoner voting – and a large dollop of self-serving insurance industry lobbying and voila: the outrage flows freely.
4 minute read

International Edition

Slaughters and A&O advise on £1.2bn Gatwick refinancing deal

Allen & Overy (A&O) and Slaughter and May have taken lead roles on a £1.2bn refinancing for Gatwick Airport. The refinancing, which closed last week ( 2 March), saw Slaughters act for Gatwick Airport and its largest shareholder Global Infrastructure Partners (GIP), with A&O advising the lead arranger Royal Bank of Scotland. The two-part refinancing comprised a £600m bond issue combined with a new £600m bank loan, with the deal fully refinancing GIP's £1.5bn acquisition of Gatwick from BAA in 2009.
2 minute read

International Edition

Salans and Shearman lead on deal set to revive steel production in Teeside

Salans and Shearman & Sterling have advised alongside three other law firms on a $468m (£287m) acquisition that will see a steel production site in Teeside re-opened, securing hundreds of local jobs. Salans advised Thailand's Sahaviriya Steel Industries (SSI) on the deal, which saw SSI acquire Teeside Cast Products in Redcar from Tata Steel Group.
2 minute read

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