A&O loses out to City rival on Shanks sale

Allen & Overy (A&O) lost out to Fresh-fields Bruckhaus Deringer in a three way tussle for the purchase of the waste management business of Shanks, which was sold last week to private equity house Terra Firma for £227.5m.

Freshfields acted for Terra Firma, which pipped A&O’s client Viridor Waste Management, a subsidiary of West Country water supplier Pennon, in the battle. Freshfields partner Julian Long headed the team.

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