Deals And Transactions Legal News Coverage

International Edition

Links and Nabarro lead on latest bank insolvency

By a:1:{i:0;s:1:" ";} | December 01, 2008

A raft of City firms have landed top roles on collapsed financial services company London Scottish Bank's administration. Linklaters and Nabarro have both been instructed by the bank, which went into administration this morning (1 December).Linklaters London-based banking partner Bruce Bell advised the bank on its financing, while Nabarro restructuring and insolvency chief Patricia Godfrey advised on corporate matters.Slaughters is acting for longstanding client the UK Treasury and the Financial Services Authority (FSA).

2 minute read

International Edition

Citi fund seals $10bn motorway company buy-out

By a:1:{i:0;s:1:" ";} | December 01, 2008

Citi Infrastructure Partners has completed the $10bn (£6.75bn) purchase of a Spanish motorway operator from a company struggling with billions in debts, reports The Am Law Daily. Citi Infrastructure, a fund run by Citigroup, purchased motorway operator Itinere from Sacyr Vallehermoso, a Spanish construction company looking to raise money to pay off debts of $24bn (£16.2bn).Citi Infrastructure relied on in-house counsel and advice from CMS Albinana & Suarez de Lezo's team in Madrid.

2 minute read

Legal Week

Freshfields, Linklaters lead as Woolworths goes under

By a:1:{i:0;s:1:" ";} | November 28, 2008

Freshfields Bruckhaus Deringer has taken a role advising troubled retailer Woolworths, which announced yesterday (26 November) it was going into administration. The magic circle firm has reprised its role for regular client Woolworths, which until recently had been exploring a number of rescue options.Turnaround specialist Hilco is reported to have had an offer on the table to buy the retail business for £1, while Woolworths is also in discussions to sell a stake in DVD business 2Entertain, which is not in administration, to BBC Worldwide. Hilco has turned to CMS Cameron McKenna for advice.

8 minute read

International Edition

ITV switches off billable hour after panel review

By a:1:{i:0;s:1:" ";} | November 27, 2008

ITV has become one of the first major British companies to entirely phase out the billable hour as the broadcasting giant unveils its new roster of legal advisers. Group legal director and general counsel Andrew Garard has cut ITV's advisers from almost 50 to nine, with each firm agreeing to use alterative billing methods.Slaughter and May, Lovells, Addleshaw Goddard, DLA Piper, Olswang, Charles Russell and Goodman Derrick have all landed roles on the panel, with US law firm Dewey & LeBoeuf and media boutique Wiggin also on the roster.

3 minute read

International Edition

Freshfields, Linklaters lead as Woolworths goes under

By Charlotte Edmond | November 27, 2008

Freshfields Bruckhaus Deringer has taken a role advising troubled retailer Woolworths, which announced yesterday (26 November) it was going into administration. The magic circle firm has reprised its role for regular client Woolworths, which until recently had been exploring a number of rescue options.Turnaround specialist Hilco is reported to have had an offer on the table to buy the retail business for £1, while Woolworths is also in discussions to sell a stake in DVD business 2Entertain, which is not in administration, to BBC Worldwide. Hilco has turned to CMS Cameron McKenna for advice.

2 minute read

International Edition

Macfarlanes heads up Goldman-ABN deal

By Charlotte Edmond | November 26, 2008

Macfarlanes has landed a role for Goldman Sachs Asset Management, advising on the acquisition of a portfolio of investments from Netherlands bank ABN Amro. The City law firm is fielding a team under corporate partner Luke Powell and funds partner Stephen Sims advising Goldman, which led a consortium acquiring 20 buy-out investments managed by AAC Capital Partners. As part of the deal, the consortium - which also includes AlpInvest Partners, the Canada Pension Plan Investment Board and Adams Street Partners - and ABN have collectively committed E950m (£804m) to AAC's ongoing investment programme.

2 minute read

Legal Week

Macfarlanes heads up Goldman-ABN deal

By a:1:{i:0;s:1:" ";} | November 26, 2008

Macfarlanes has landed a role for Goldman Sachs Asset Management, advising on the acquisition of a portfolio of investments from Netherlands bank ABN Amro. The City law firm is fielding a team under corporate partner Luke Powell and funds partner Stephen Sims advising Goldman, which led a consortium acquiring 20 buy-out investments managed by AAC Capital Partners. As part of the deal, the consortium - which also includes AlpInvest Partners, the Canada Pension Plan Investment Board and Adams Street Partners - and ABN have collectively committed E950m (£804m) to AAC's ongoing investment programme.

4 minute read

International Edition

Herbert Smith takes debut deal for 3i on €187m Spanish funeral company buy-out

By a:1:{i:0;s:1:" ";} | November 26, 2008

funeral services company Memora. The City law firm advised 3i on the €187m (£156m) acquisition of a majority stake in the business from Acciona and Caja Madrid. London finance partner Kristen Roberts took the lead role for Herbert Smith, with the firm winning the instruction after Roberts acted opposite the private equity house on its 2006 acquisition of VNU Business Media Europe. On that occasion, the City firm advised Societe Generale and BNP Paribas as mandated lead arrangers and underwriters, with Allen & Overy advising 3i.

2 minute read

International Edition

Orrick's ex-Heller team seals $700m web company sell-off

By a:1:{i:0;s:1:" ";} | November 26, 2008

Orrick Herrington & Sutcliffe's newly-hired UK technology team has closed its first deal since joining from Heller Ehrman - sealing the $700m (£472m) sale of web company MessageLabs. Corporate partner Richard Eaton led the team advising longstanding client MessageLabs, which provides messaging and web security services, on its acquisition by software company Symantec. Eaton began working on the deal while he was a partner at now-defunct US law firm Heller, with the transaction closing just three weeks after he joined Orrick as part of a three-partner team at the beginning of November.

2 minute read

International Edition

Comet aims at Eversheds for sole legal advice

By a:1:{i:0;s:1:" ";} | November 26, 2008

Electronics retailer Comet has appointed Eversheds as its sole legal adviser. Eversheds will provide the company with support on all of its legal matters and has been appointed for an initial three-year period.

1 minute read

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