Deals And Transactions Legal News Coverage

International Edition

By a:1:{i:0;s:1:" ";} | September 03, 2008

Addleshaw Goddard's Manchester banking team has advised opposite Travers Smith on the £450m refinancing of Peel Holdings' land and property investment divisions. The national law firm advised the banks on the two related refinancing deals, with Travers acting for Peel. The first deal saw Addleshaws act for lead arranger Lloyds TSB and a syndicate of five banks - Lloyds, HSBC, HBOS, Barclays and Royal Bank of Scotland N on a £250m refinancing package for Peel Land Holdings.The second transaction saw the firm advise Bank of Scotland as sole lender in connection with facilities of £202m for Peel Land and Property.

2 minute read

International Edition

Slaughters retains FTSE client rankings top spot

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

Slaughter and May has held onto its position as the firm with the largest number of FTSE 100 clients, according to the latest research from Hemscott. The rankings show the elite magic circle firm picked up two additional FTSE 100 clients over the three-month period from 9 May to 4 August, taking its tally to 27 clients with a market capitalisation of £267bn.

2 minute read

International Edition

Eversheds and Dundas land roles in Floors-2-Go acquisition

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

Eversheds and Dundas & Wilson have scored star roles in the high-profile acquisition of troubled retailer Floors-2-Go from administrators Kroll - a deal set to save more than 200 jobs. The transaction, which closed earlier this month (15 August), saw Eversheds advise the Hodge brothers, Robert and Richard, on their purchase of the flooring company for an undisclosed sum.

2 minute read

International Edition

Travers advises Fulcrum on $295m merger

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

Travers Smith has advised new client Fulcrum Group on its $295m (£158.5m) merger with Bermuda-based financier Butterfield Fund Services, part of Butterfield Bank. The top 40 UK law firm fielded a team led by corporate finance partners Philip Chevely, Neal Watson and Tony Foster on the deal, which was agreed late last month following months of discussions. The agreement will see fund administrator Fulcrum, which is backed by existing Travers client 3i, merge with Butterfield Funds Services' businesses in Bermuda, the Cayman Islands, the Bahamas, Guernsey and Canada.

2 minute read

International Edition

Commentary: Big names fear losing out in BAA airports sale

By Georgina Stanley | August 27, 2008

Whichever way you look at it, airport operator BAA has had a spectacularly turbulent summer. If dealing with the opening of Heathrow Terminal Five was not trouble enough, the company last week learned that the Competition Commission intends to force a sale of three of its seven UK airports. It is enough to get BAA management heading straight for the duty free. But while the UK regulator's decision to take such an unexpectedly aggressive stance spells bad news for BAA, it's likely to have the opposite impact on City law firms.In fact, regular advisers Freshfields Bruckhaus Deringer and Herbert Smith must feel like they have been upgraded to first class, given the publicity their mandates for BAA have received over the last week alone. Granted Freshfields' role advising on BAA's epic £13bn refinancing has been somewhat overshadowed by events at the Competition Commission but, after fielding a large team on the deal virtually since its client Ferrovial bought BAA for some £10.3bn in 2006, the firm is unlikely to care.

4 minute read

Legal Week

Commentary: Big names fear losing out in BAA airports sale

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

Whichever way you look at it, airport operator BAA has had a spectacularly turbulent summer. If dealing with the opening of Heathrow Terminal Five was not trouble enough, the company last week learned that the Competition Commission intends to force a sale of three of its seven UK airports. It is enough to get BAA management heading straight for the duty free. But while the UK regulator's decision to take such an unexpectedly aggressive stance spells bad news for BAA, it's likely to have the opposite impact on City law firms.In fact, regular advisers Freshfields Bruckhaus Deringer and Herbert Smith must feel like they have been upgraded to first class, given the publicity their mandates for BAA have received over the last week alone. Granted Freshfields' role advising on BAA's epic £13bn refinancing has been somewhat overshadowed by events at the Competition Commission but, after fielding a large team on the deal virtually since its client Ferrovial bought BAA for some £10.3bn in 2006, the firm is unlikely to care.

8 minute read

International Edition

Dealmaker: Adam Levin

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

Dechert's Adam Levin on his move from New Zealand to the City, his love of Virgin Radio and his son's valuable advice

5 minute read

International Edition

Freshfields takes lead on £13.3bn BAA refinancing

By a:1:{i:0;s:1:" ";} | August 20, 2008

Freshfields Bruckhaus Deringer has taken a lead role advising on the landmark £13.3bn refinancing of airport operator BAA. The magic circle firm has advised the company, which today (20 August) was warned by the Competition Commission that it may have to sell three of its seven UK airports, on the refinancing - acting opposite a raft of City firms. Freshfields finance partners Ian Falconer and Marcus Mackenzie led the team for Freshfields, with the firm effectively working on the refinancing ever since BAA was bought by a consortium led by Spanish construction group Ferrovial in 2006.

3 minute read

International Edition

Herbert Smith lands £13bn tobacco restructuring

By a:1:{i:0;s:1:" ";} | August 13, 2008

Herbert Smith has won the lead role on the £13bn restructuring of its long-time client British American Tobacco (BAT). The proposed restructuring, along with a related secondary listing on the Johannesburg Stock Exchange, has been requested by luxury goods company Richemont and investment group Remgro. Between them, the two companies hold around 30% of stock in BAT.

2 minute read

International Edition

Cripps lands role on Oddbins acquisition

By a:1:{i:0;s:1:" ";} | August 12, 2008

Cripps Harries Hall has won a role on the acquisition of wine merchant chain Oddbins by Ex Cellar Investment. The Kent law firm advised the seller, French wine group Castel Freres, on the deal with partner Olivier Morel, who heads the firm's French corporates group leading the team.

1 minute read

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