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Legal Week

Top trio lead on deal to save kid's TV favourites

Kirkland & Ellis, SJ Berwin and DLA Piper have advised on the private equity buyout of the media company behind iconic brands including Postman Pat and Rupert the Bear. Kirkland's London office advised US buyout firm GTCR on the deal, which saw -Entertainment Rights' principal UK and US subsidiaries sold out of administration to Boomerang Media, which is backed by GTCR. The firm fielded a team from London including private equity partner Graham White and finance partner Neel Sachdev.
17 minute read

International Edition

Shearman acts for Dow Chemical on $1.7bn sale

Shearman & Sterling has reprised its role for Dow Chemical, advising the company as it agrees to sell Rohm and Haas unit Morton International to a German agrichemicals company for $1.7bn (£1.14bn). The company will use the sale to help finance its $16.5bn (£11.1bn) buyout of Rohm, which closed last week (2 April) - a deal on which it also turned to Shearman.
1 minute read

International Edition

Dealmaker: Richard Sheen

We reel in Norton Rose's Richard Sheen to discuss fishing, explosive near-misses and grumpy old men
4 minute read

International Edition

Ashurst and Hogan instructed on steel giant's $2.8bn restructuring

Ashurst and Hogan & Hartson have secured major roles on a $2.8bn (£1.9bn) Russian debt restructuring for embattled steel giant Rusal.The high-stakes deal saw Rusal offer an enlarged stake in its business to Onexim Group in exchange for $2bn (£1.37bn) of debt owed to the latter company. The restructuring, which raises Onexim's stake in Rusal by 4.5% to 18.5%, leaves a remaining $800m (£549m) in debt to be restructured later on.
2 minute read

International Edition

Pinsents, Simmons and MoFo line up for £340m placing as SIG moves to cut debt

Pinsent Masons, Simmons & Simmons and Morrison & Foerster have won lead roles on a £341.3m fundraising as building materials company SIG moves to cut its debt burden. Sheffield-based SIG is raising money in order to pay off creditors and avoid breaching loan agreements, making additional shares available to existing shareholders as well as on open offer.
2 minute read

International Edition

Commentary: Northern Rock payout shows City the value of public service

Before M&A fell off a cliff, it is fair to say acting for the Government was not seen by most City law firms as particularly glamorous or lucrative. Many top London firms, until recently, went as far as to actively avoid Whitehall, citing low rates and conflict problems. This is in stark contrast to the US, where elite law firms routinely seek cutting-edge public work with scant regard for fee levels.
3 minute read

Legal Week

Commentary: Northern Rock payout shows City the value of public service

Before M&A fell off a cliff, it is fair to say acting for the Government was not seen by most City law firms as particularly glamorous or lucrative. Many top London firms, until recently, went as far as to actively avoid Whitehall, citing low rates and conflict problems. This is in stark contrast to the US, where elite law firms routinely seek cutting-edge public work with scant regard for fee levels.
10 minute read

International Edition

Lovells and Eversheds land roles on new LV= panel

Lovells and Eversheds have won panel roles as financial services group LV= finalises its first official roster of external legal advisors. The insurance, investments and pensions group, formerly known as Liverpool Victoria, launched a review earlier this year aimed at selecting a smaller group of firms to offer specialist and general advice.Lovells and Eversheds have been chosen to advise on corporate and finance matters and will sit alongside employment boutique Dermot Scully on the specialist panel.
2 minute read

International Edition

CC leads on Barclays' $6bn iShares auction

Clifford Chance (CC) has scored another top mandate for Barclays, advising the bank on the auction of its asset management business iShares. Corporate finance partner Guy Norman, who handles the Barclays relationship for the firm, is advising the bank on the potential sell-off.Investment bank Goldman Sachs is thought to be a strong contender to pick up iShares in a deal that could raise $6.5bn (£4.5bn) for Barclays.
2 minute read

International Edition

Freshfields advises Porsche on €10bn financing

Freshfields Bruckhaus Deringer has advised key client Porsche on a €10bn (£9.3bn) loan refinancing. The deal, announced earlier this week (24 March), saw the Stuttgart-based sports car maker secure a new credit facility with 15 banks.Freshfields Porsche relationship partner Christoph von Buelow led a team from the firm's Frankfurt office advising on the deal. It included finance partners Andreas Koenig and Ian Frost as well as corporate partners Thomas Buecker and Christoph Gleske.
2 minute read

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