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International Edition

US firms win lead roles as Del Monte says yes to $5.3bn leveraged buyout

Gibson Dunn & Crutcher and Simpson Thacher & Bartlett have won lead roles on the $5.3bn (£3.4bn) leveraged buyout (LBO) of Del Monte Foods, reports The Am Law Daily. An investor group led by Kohlberg Kravis Roberts & Co (KKR), Capital Partners and Centerview Partners will pay $19 (£12) per share of Del Monte in cash. The deal - 2010's biggest LBO to date - also includes the assumption of about $1.3bn (£833m) in debt.
2 minute read

International Edition

Dealmaker: Jonathan Angell

Dechert corporate partner Jonathan Angell on 'misplacing' £40m and his passion for the theatre...
3 minute read

International Edition

Line-up of UK firms advise on new £600m medical research institute JV

Four UK top 15 firms have advised on a £600m joint venture (JV) that will see a biomedical research facility built in London's Kings Cross. The UK Centre for Medical Research and Innovation is due to be built and run as a charity foundation by a JV comprising the Medical Research Council, Cancer Research UK, Wellcome Trust and University College London (UCL). CMS Cameron McKenna advised the whole of the JV on the agreement, with the firm's team including lawyers from its London corporate and real estate departments. Camerons won the appointment based on its longstanding relationship with the Wellcome Trust.
2 minute read

International Edition

SJB, Freshfields, Ashurst and A&O act on £871m Westfield Olympic mall stake sale

A raft of top UK law firms have taken roles on Westfield's sale of a 50% stake in its shopping centre next to the site of the London 2012 Olympics, after the retail giant struck a £871.5m deal with two overseas pension funds. Westfield has instructed three law firms on the deal, which will see the Australian property developer sell off 50% of Westfield Stratford City to Holland's APG and the Canadian Pension Plan Investment Board.
2 minute read

International Edition

Slaughters and Herbert Smith advise on £1.7bn food company merger

Slaughter and May and Herbert Smith have taken roles on the merger of Northern Foods and Greencore Group, two food companies seeking to cut costs by combining operations, reports The Am Law Daily. The new company, called Essenta Foods, will be one of the largest frozen and prepared foods providers in the UK with combined sales of £1.7bn.
2 minute read

International Edition

Linklaters takes role for GM investor as car maker launches $23bn IPO

Linklaters and Jenner & Block have won roles as General Motors this week increased the number of shares on offer in its landmark initial public offering (IPO), reports The Am Law Daily. The car maker, which is being advised by US firm Jenner, has responded to strong market demand by expanding the IPO by 31%, helping the company to raise $23.1bn (£14.4bn) in what could be the largest IPO ever.
2 minute read

International Edition

Freshfields wins lead role on $3bn Indonesia mining deal

Freshfields Bruckhaus Deringer has been instructed by UK financier Nathaniel Rothschild's mining investment firm Vallar on its acquisition of stakes in two of Indonesia's top coal mining businesses, reports The Am Law Daily. Vallar is set to pay $3bn (£1.9bn) for a 25% stake in Bumi Resources and a 75% stake in Berau Coal Energy, Indonesia's first and fifth-largest coal producers respectively.
2 minute read

International Edition

Mayer Brown heads up raft of US firms on multibillion-dollar Caterpillar deal

A line-up of US firms have taken roles on Caterpillar's $7.6bn (£4.7bn) acquisition of mining equipment manufacturer Bucyrus International, reports The Am Law Daily. Mayer Brown advised Caterpillar on the the all-cash transaction - which when including debt, is valued at $8.6bn (£5.4bn) - with a team led by Chicago M&A partners John Sagan and William Kucera. Last month Mayer Brown advised Caterpillar on its €580m (£517m) acquisition of German engine maker MWM Holding, a deal with also handed roles to Clifford Chance and SJ Berwin.
2 minute read

International Edition

Trio of top 15 firms win roles on £2.1bn privatisation of rail link

Herbert Smith, Linklaters and CMS Cameron McKenna have taken lead advisory roles on the £2.1bn disposal of the UK's first high-speed railway to two Canadian pension funds with the deal marking the first significant privatisation under the new coalition Government. Herbert Smith advised longstanding client London and Continental Railways (LCR) on its sale of the Channel Tunnel rail link - High Speed 1 - with global head of infrastructure Patrick Mitchell advising Government-owned LCR.
2 minute read

International Edition

Dealmaker: Dean Poster

Mishcon de Reya corporate partner Dean Poster on his loveable banking contacts and why no-one likes a smart arse...
4 minute read

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