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International Edition

Expro takeover gifts Freshfields, CC and S&C £1.6bn trophy roles

Clifford Chance (CC), Sullivan & Cromwell and Freshfields Bruckhaus Deringer have landed roles on one of the largest private equity deals to take place this year - the £1.6bn acquisition of Expro International by a Candover-led consortium.CC has the lead role for longstanding client Candover, with the magic circle law firm's team headed by London corporate partners Adam Signy and Kem Ihenacho.
2 minute read

International Edition

BLP secures top role opposite A&O on E1bn property investment mandate

Berwin Leighton Paisner (BLP) has secured a role advising fund management and property development group Letterstone on a €1bn (£808m) property investment venture with Starr International.Corporate partner Tim Simmonds headed the team advising the London-based fund manager on the deal.
2 minute read

International Edition

Ashurst, Links cook up £950m Enodis buy-out

Ashurst and Linklaters have won lead roles on the £950m takeover of UK kitchen equipment maker Enodis by US company Manitowoc.Ashurst is advising longstanding client Enodis, with City corporate partners Richard Gubbins and Anthony Clare leading the team, supported by competition partner Julian Ellison and employment partner Paul Randall.
2 minute read

International Edition

Linklaters leads on RBS' record £12bn rights issue

Linklaters has secured a trophy mandate acting on the record £12bn rights issue by the Royal Bank of Scotland (RBS) - the largest of its kind to date. Linklaters is advising the bank - the UK's second-largest lender and a long-term client of the magic circle firm - on the issue, announced yesterday (22 April), which comes with RBS set to announce write-downs of £5.9bn in sub-prime-related assets.
2 minute read

International Edition

Freshfields to the fore on Bank of England's £50bn cash injection

Freshfields Bruckhaus Deringer has underlined its close links with the Bank of England after taking lead advisory duties on the bank's £50bn liquidity support programme for the UK lending market. Freshfields is advising the longstanding client on its plan to swap secured Government bonds for premium mortgage debts held by commercial banks in a bid to ease the effects of the global credit crisis.
2 minute read

International Edition

Jones Day joins NY elite on $7bn fundraising

Jones Day has bagged a role alongside a clutch of leading New York firms on a $7bn (£3.5m) fundraising by US lender National City. Sullivan & Cromwell advised Cleveland-based National City alongside Jones Day, while Simpson Thacher & Bartlett advised Corsair Capital, the largest single investor. Cleary Gottlieb Steen & Hamilton also landed a role advising Axon, another of the investors.
2 minute read

International Edition

Bakers makes slick move with lead role on $2.25bn Russian oil merger

Global law firm Baker & McKenzie has taken a lead role on a cross-border merger worth $2.25bn (£1.14bn). The firm advised West Siberian Resources as it merged with Alliance Oil to form a combined oil company operating across Russia and Kazakhstan. The mandate is a coup for the firm's corporate team, which worked opposite Clifford Chance (CC) on the deal, which took three months to complete.
2 minute read

International Edition

Commentary: Q1 deal market sees predictable gloom but holds the doom

The first quarter of 2008 ends with few surprises or cheer for deal lawyers. Glancing at the deal leagues, M&A activity fell substantially on both value and volume measures to levels last seen during the quieter moments of 2004. As expected, North America and Europe bore much of the brunt of that slowdown and big-ticket private equity deals pretty much vanished. According to Mergermarket, leveraged buy-outs constituted seven of the 10 largest deals in the first half of 2007 but not a deal so far in the largest bids of 2008.
4 minute read

International Edition

Kirkland City arm wins trophy role on Somerfield/Co-op talks

Kirkland & Ellis has secured a trophy corporate mandate - taking the lead role in the ongoing takeover talks between the private equity owners of supermarket group Somerfield and Co-op. A team headed by Kirkland corporate partner Graham White is representing the consortium that owns Somerfield in its sale of the UK's fifth-largest supermarket chain.
3 minute read

International Edition

Bevan Brittan highlights PFI credentials with £229m deal for state-of-the-art Kent hospital

Bevan Brittan has taken the lead role on a £229m private finance initiative (PFI) to build a new hospital in Kent. The Bristol-based firm has advised longstanding client Maidstone & Tunbridge Wells NHS Trust on the state-of-the-art, 512-bed hospital in Pembury, Kent.
2 minute read

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