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International Edition

Simmons ECM team wins key corporate mandate from UBS

Simmons & Simmons has won its first major corporate instruction from banking giant UBS, with the firm's equity capital markets (ECM) team advising on a multimillion-pound deal. The top 15 City firm advised UBS Investment Bank as lead financial adviser, sole corporate broker and sponsor to Henderson Group on its February acquisition of Gartmore Group for £392m.
2 minute read

International Edition

Bonelli and Chiomenti head up LVMH's £3.2bn Bulgari buyout

Italy's Bonelli Erede Pappalardo and Chiomenti have taken lead roles on luxury goods giant LVMH's £3.2bn takeover of Italian jeweller Bulgari. Bonelli has been instructed by LVMH, which is purchasing a 50.4% stake in Bulgari in a share swap that will make the Italian company the second-biggest family shareholder in LVMH.
2 minute read

International Edition

Bakers & Kirkland lead on Kuoni's $720m Gullivers Travel acquisition

Baker & McKenzie and Kirkland & Ellis have taken lead roles on Swiss travel group Kuoni's $720m (£445m) purchase of British rival Gullivers Travel Associates (GTA). Kuoni instructed Bakers on the deal, which is a part of the Swiss company's efforts to develop its online travel business. The firm fielded a team led by London corporate chief Tim Gee.
2 minute read

International Edition

Raft of leading UK firms line up on subprime lender's £3bn debt restructuring

A raft of City law firms have taken roles on the £3bn debt restructuring of troubled financial services group Cattles. The restructuring has handed roles to six City law firms during two years of complex negotiations after a 2009 accounting scandal pushed the subprime lender to the brink of insolvency.
2 minute read

International Edition

OC and Slaughters lead on Whitbread's £59.5m coffee purchase

Osborne Clarke (OC) and Slaughter and May have taken lead roles on the £59.5m sale of Coffee Nation to the Whitbread Group. Coffee Nation, which operates 900 coffee vending machines throughout the UK, instructed OC in early January, with the negotiations beginning later that month. The UK top 50 firm's team was led by corporate partner Paul Cooper.
2 minute read

International Edition

Simpson Thacher coup as US bidder pulls off 11th-hour £4bn E.ON deal

Simpson Thacher & Bartlett has taken a lead corporate role for Pennsylvania Power and Light (PPL) on its £4bn acquisition of E.ON's UK power networks following a competitive auction. The US law firm was instructed less than six weeks ago, and fielded a team led by London corporate partner Adam Signy. Other partners to act on the deal included New York capital markets head Vince Pagano and fellow corporate partner James Cross.
2 minute read

International Edition

CC and Herbert Smith advise as Essar Energy plans $350m refinery purchase

Herbert Smith and Clifford Chance (CC) have lined up to advise on Essar Energy's exclusive agreement to buy Shell's Stanlow refinery in Cheshire for around $350m (£214.4m). The agreement, which will see Shell leave the UK refinery market if it goes through, saw Essar agree to pay a break fee of $50m (£31m) if it backs out of the deal before the exclusivity period ends on 31 March.
2 minute read

International Edition

Dealmaker: Jeremy Cross

SJ Berwin's finance chief Jeremy Cross on pointless posturing and why he'll never pilot a chopper
3 minute read

International Edition

Linklaters and Cleary lead on Lafarge and Anglo American UK joint venture

Linklaters and Cleary Gottlieb Steen & Hamilton are advising on a joint venture (JV) between Anglo American and French industrial giant Lafarge which is set to create a UK building materials businesses with total sales of £1.8bn. The proposed deal is a 50:50 JV combining the companies' UK cement, aggregates, ready-mixed concrete, asphalt and contracting businesses. The parties said that the tie-up had been sparked due to complementary geographical distribution of operations.
2 minute read

International Edition

A&O and Skadden take top roles on Shell's $1bn Africa shareholding sale

Allen & Overy (A&O) and Skadden Arps Slate Meagher & Flom have won the lead mandates on Shell's $1bn (£617m) sale of parts of its African business. The deal, which comes as Shell moves to sell off non-core operations, will see oil trader Vitol and private equity firm Helios Investment Partners acquire the majority of Shell's shareholdings in its downstream businesses in Africa.
2 minute read

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