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International Edition

CC switches on £2.5bn broadcast merger

Clifford Chance (CC) has helped broadcast transmission companies Arqiva and National Grid Wireless (NGW) win conditional approval of their merger from the UK Competition Commission. London-based competition partners Jenine Hulsmann and Oliver Bretz advised both NGW and Arqiva throughout the Competition Commission probe into the £2.5bn merger, which was first announced in April 2007.
2 minute read

International Edition

JP Morgan sets aside $6bn to combat Bear Stearns claims as Wachtell secures trophy mandate

JP Morgan Chase is setting aside $6bn (£2.9bn) to cover potential litigation as it agrees to buy stricken Wall Street giant Bear Stearns for just $240m (£119m). Following the announcement on 16 March that it is buying the bank for a fraction of its previous value, JP Morgan said it is estimating the cost of the transaction at around $6bn - taking into account the potential of litigation stemming from the drop in Bear Stearn's stock value and severance costs.
4 minute read

International Edition

Skadden's Mallon in for Carlyle Capital collapse

Skadden Arps Slate Meagher & Flom has landed a lead advisory role on the liquidation this week of Carlyle Capital Corporation. City-based restructuring partner Chris Mallon (pictured right) is leading the team for Skadden advising Carlyle Capital, which has defaulted on debts worth $16bn (£7.8bn). The company reported earlier this week that it had failed to reach an agreement with its lenders, which include Deutsche Bank and JP Morgan Chase.
2 minute read

International Edition

Reed Smith, Herbies in as AOL buys $850m Bebo

The City arm of Reed Smith Richards Butler has picked up a profile-raising mandate on the $850m (£420.6m) acquisition of social networking website Bebo by AOL. The firm's London arm advised longstanding client Bebo on UK aspects of the deal, with senior associate Gregor Pryor leading a team that also included associates Krista James and Daniel Barnett.
2 minute read

International Edition

City giants gear up German arms for VW deal double

The German arms of Clifford Chance (CC) and Freshfields Bruckhaus Deringer have picked up lead roles on multibillion-pound deals involving German automotive giant Volkswagen (VW).CC has acted alongside Scandinavian leader Roschier to advise VW as it bids to increase its stake in Swedish lorry maker Scania from 38% to just under 69%, in a deal worth around SEK27.9bn (£2.26bn).
2 minute read

International Edition

Magic circle trio dealt lucky hand with Goldman pensions purchase

Three magic circle firms have taken lead roles advising on Goldman Sachs' purchase of the Rank Group's pension scheme - the UK's biggest ever pensions liability transfer to date.Allen & Overy (A&O) took the main role for Goldman, advising as its recently-formed subsidiary Rothesay Life purchased the assets and liabilities of the Rank Group pension scheme. The deal is thought to be the largest transfer of pension liabilities in the UK so far, with the Rank scheme assets valued at around £700m.
2 minute read

Legal Week

Magic circle trio dealt lucky hand with Goldman pensions purchase

Three magic circle firms have taken lead roles advising on Goldman Sachs' purchase of the Rank Group's pension scheme - the UK's biggest ever pensions liability transfer to date.Allen & Overy (A&O) took the main role for Goldman, advising as its recently-formed subsidiary Rothesay Life purchased the assets and liabilities of the Rank Group pension scheme. The deal is thought to be the largest transfer of pension liabilities in the UK so far, with the Rank scheme assets valued at around £700m.
8 minute read

International Edition

McDermott drives forward with top role on E1.4bn Greek infrastructure development

McDermott Will & Emery's London office has advised on a Greek infrastructure project worth an estimated €1.42bn (£1.07bn). McDermott fielded a team under project finance partner Andrew Watson, including London finance partner Cam Brockie and associates from both the London and Brussels offices, to advise the project's sponsors, Elliniki Technodomiki and Intracom Holdings.
2 minute read

International Edition

Freshfields, Sullivan join forces on Reed buy-out

Freshfields Bruckhaus Deringer has teamed up with New York's Sullivan & Cromwell to advise Reed Elsevier on its $4.1bn (£2.1bn) acquisition of ChoicePoint.The magic circle firm is acting alongside Sullivan to advise Reed, with Sullivan advising on US aspects.
1 minute read

International Edition

Dealmaker: Will Rosen

Private equity specialist Will Rosen is one of the star recruits to DLA Piper's City corporate team
5 minute read

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