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International Edition

SJ Berwin and Freshfields head up $755m private equity group sale

SJ Berwin and Freshfields Bruckhaus Deringer have acted on the $755m (£490m) sale of UK private equity group Pantheon, a deal which has also handed roles to a trio of US firms. Freshfields advised acquisitive US money-holding company Affiliated Managers Group (AMG) on its proposed purchase of Pantheon - a private equity fund-of-funds manager - from Russell Investments.
2 minute read

International Edition

BLP and Kirkland advise as Reader's Digest goes into administration

Kirkland & Ellis and Berwin Leighton Paisner (BLP) have taken key roles on the administration of Reader's Digest and the Chapter 11 of its US parent company. Readers Digest Association filed for Chapter 11 in August last year after struggling with payments on its $2.2bn (£1.4bn) debt, and the UK arm of the subscription-only magazine filed for administration yesterday (17 February) after plans to reduce its £125m pension deficit failed, putting 117 jobs at risk.
2 minute read

International Edition

SJB acts alongside magic circle duo on €45m private equity refinancing

A trio of City firms have taken lead roles on the refinancing of European payment network, Payzone. The deal saw private equity investor Duke Street inject €45m (£39m) into Ireland-based Payzone, giving the buyout house a controlling stake in the business. The deal also involved a syndicate of lending banks taking a 16% stake in Payzone, with the overall restructuring seeing the total amount of debt owed to the syndicate reducing from €320m (£278m) to €82m (£71m).
2 minute read

International Edition

Hammonds wins negligence claims mandate from Lloyds

Hammonds has struck a groundbreaking deal with Lloyds Banking Group that will see the firm take on the majority of the retail bank's professional negligence work. The national firm has been instructed to advise the bank as it brings increasing numbers of claims, including cases against solicitors and surveyors over alleged over-valuation of property.
2 minute read

International Edition

White & Case and Linklaters lead on first CIS bond offering of 2010

White & Case and Linklaters have lined up on the first Eurobond offering in the Commonwealth of Independent States (CIS) this year. White & Case was instructed by long-term oil client TNK-BP on its $1bn (£6.4m) issuance, providing English, US and Russian law advice. The offering was spilt into two $500m (£320m) issues, with the first a tranche of 6.25% notes due in 2015 and the second a tranche of 7.25% notes due in 2020. The proceeds of the offering will go towards funding investment programmes aimed at building up oil and gas production and reserves.
2 minute read

International Edition

Ropes & Gray and Mason Hayes lead on billion-dollar private equity buyout

Ropes & Gray and Mason Hayes & Curran have lined up to advise on one of the largest leveraged buyouts in Ireland since the credit crunch - the $1.1bn (£700m) sale of SkillSoft to a private equity consortium. Boston's Ropes and Ireland's Mason Hayes have advised Berkshire Partners, Advent International and Bain Capital as the consortium acquiring electronic education services provider SkillSoft.
2 minute read

International Edition

Dealmaker: Tom Shropshire

Linklaters corporate partner Tom Shropshire reflects on the agony of choice and listening to Mom...
4 minute read

International Edition

A&O and Linklaters among winning firms in rare BAE adviser review

Aerospace and defence giant BAE Systems has completed the first major review of its external legal advisers in the UK for more than a decade, with law firms including Allen & Overy (A&O) and Linklaters among those making the grade. The review, which kicked off last summer under the leadership of chief UK counsel Roger Wiltshire, has seen the company formalise its relationship with 16 law firms as well as three sets of barristers chambers.
2 minute read

International Edition

Hammonds wins lead role on £280m private equity buyout

Hammonds took a leading role advising on the sale of survival equipment maker Survitec Group to US private equity firm Warburg Pincus for nearly £280m. The national firm advised longstanding private equity client Montagu on its £274m disposal of the company, which focuses on serving the marine, military, aerospace and homeland security markets, to buyout house Warburg Pincus.
2 minute read

International Edition

Dentons and Herbert Smith lead on rescue of inflight technology firm

Denton Wilde Sapte and Herbert Smith have advised on the rescue of inflight mobile technology company AeroMobile after five weeks in administration. AeroMobile went into administration at the end of December, with Dentons instructed in the lead role for administrator BDO.
2 minute read

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