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International Edition

Slaughters and CC in on New Look IPO

Slaughter and May and Clifford Chance have bagged leading roles on New Look's £650m Initial Public Offering (IPO), announced yesterday (2 February). Slaughter and May corporate partners Martin Hattrell and Simon Nicholls are leading a team advising the fashion retailer, whose majority shareholders include private equity houses Permira Advisers and Apax Partners, on its proposed floatation on the London Stock exchange.
2 minute read

International Edition

Placing of new Tullow Oil shares hands roles to Ashurst and Dickson Minto

Ashurst and Dickson Minto have advised on the share placing by FTSE 100 oil company Tullow Oil, which is expected to raise around £1bn. The company will issue 80.4 million new shares, representing roughly 10% of the group's existing shares.
2 minute read

International Edition

Protracted Shadbolt talks end in a tidy acquisition for Clydes

It took some time to get there, and it didn't pan out as initially expected, but the conclusion to the merger talks between Clyde & Co and Shadbolt appears to be a good result for the London-based insurance firm. Talks between the two started over a year ago after the construction boutique completed a strategic review of its business. The retirement of high-profile name partner Dick Shadbolt in 2008 left the firm without a clear-cut strategy and struggling to maintain its financial performance, according to a variety of partners familiar with the firm. With 18 partners spread across its offices in London, Guildford, Reigate and Paris, Shadbolt was struggling to adopt its focus of handling corporate and projects work for UK subcontractors to an increasingly international construction market.
3 minute read

International Edition

CC and Davis Polk lead $12bn Brazilian ethanol JV

Clifford Chance (CC) and Davis Polk & Wardwell have secured lead roles on Royal Dutch Shell's entry into Brazil's sugar-based ethanol market in a $12bn (£7.5bn) joint venture with the Brazilian biofuel giant Cosan, writes The AmLaw Daily.CC partner Anthony Oldfield led the team for Shell, according to sources familiar with the deal. CC has a long relationship with Shell; the firm has advised the company on several deals around the world. The London-based law firm also has had an office in Brazil for more than a decade.
2 minute read

International Edition

DLA, CC and Travers win roles on £440m outsourcing company buyout

A raft of firms have landed roles on the £440m buyout of legal process outsourcing company CPA Global by private equity investor Intermediate Capital Group (ICG). DLA Piper advised CPA on the deal with a team led by UK corporate chief David Raff, alongside London corporate partner Kiran Sharma.
2 minute read

International Edition

Simpson Thacher wins lead role on KKR's £955m Pets at Home purchase

Simpson Thacher & Bartlett, Travers Smith and DLA Piper have lined up on the sale of Pets at Home for almost £1bn, in the latest deal signalling a resurgence in the private equity sector. Simpson Thacher took the lead role for Kohlberg Kravis Roberts & Co (KKR), which won the high-profile auction to purchase the pet supplies chain from Bridgepoint Capital with a bid of £955m.
2 minute read

International Edition

A&O in front seat on Dutch car maker's $400m deal to save Saab

Allen & Overy (A&O) has taken a lead role as General Motors (GM) and Spyker reached an agreement for the purchase of Saab Automobile yesterday (26 January) after months of discussions. The magic circle firm advised Spyker on the deal, which has been agreed at a cut-price value of $400m (£247m) in cash and shares, but will see the small Dutch auto maker save the Saab brand from disappearing after GM announced plans to wind down operations late last year.
2 minute read

International Edition

A&O secures pole position in 2009 projects rankings but debt shortage hits deal activity

Allen & Overy (A&O) has topped the global project finance league tables for 2009 by value and volume according to new research that shows last year's leader, Clifford Chance (CC), falling into fifth place. Infrastructure Journal's (IJ) 2009 global rankings of legal advisers on project finance transactions shows A&O advised on deals worth $23.9bn (£14.8bn). That tally, which included a role advising the 12 banks supporting the £1.5bn financing for Global Infrastructure Partners' successful bid for Gatwick Airport in October 2009, gave A&O a 6.2% share of a much-depleted market.
3 minute read

International Edition

Linklaters and White & Case lead on $3bn Qatar merger

Linklaters and White & Case have won lead roles on a $3bn (£2bn) merger that has created the ninth-largest company listed in Qatar. The deal sees Barwa Real Estate Company take over Qatar Real Estate Investment Company (Alaqaria). The merger, which was approved earlier this month, has been backed by the Qatari Government.
2 minute read

International Edition

Deal lawyers set to AIM slightly less low in 2010

Ask a corporate partner specialising in work on London's Alternative Investment Market (AIM) to describe 2009 and "horrendous" and "not a good year" are some of the milder descriptions you're likely to hear. Looking at the statistics it is easy to see why, as the market saw a dismal tally of just 36 admissions, with the number of initial public offerings (IPOs) barely scraping double digits at just 13.
4 minute read

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