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International Edition

Manhattan elite lines up for record TXU buy-out

Elite New York firms Simpson Thacher & Bartlett and Sullivan & Cromwell have bagged plum roles on the $45bn (£23bn) leveraged buyout (LBO) of utilities giant TXU - potentially the largest LBO to date. Simpson Thacher is lead adviser to the bidding consortium, comprising private equity giants Kohlberg Kravis Roberts & Co (KKR) and Texas Pacific Group, which is being advised by Cleary Gottlieb Steen & Hamilton.
2 minute read

International Edition

Scots elite gear up for £1bn Firth of Forth mega project

Advisers on both sides of the border have begun jostling for position after the Scottish Executive last week announced it was to press ahead with controversial plans for a new £1bn crossing over the Firth of Forth. The project promises to be one of the biggest ever in the Scottish market and a raft of major firms have put themselves in the frame to win mandates when details of the scheme are finalised this summer.
2 minute read

International Edition

Commentary: Losing AIM - three years of market boom has come to an end

Barely into 2007 and already it seems a long time since the Alternative Investment Market (AIM) was somewhere everyone wanted to be. Yet only a few months back, London's junior market was booming, driven by high investor confidence and the queue of foreign companies waiting to list. As such, a sector once derided by bluechip advisers was being actively courted by the likes of Norton Rose and Ashurst, not to mention US players such as O'Melveny & Myers and Hunton & Williams.
4 minute read

International Edition

Addleshaws and Nabarros bag £400m redevelopment

Addleshaw Goddard and Nabarro Nathanson have bagged the lead roles for Peel Holdings and British Waterways on a new £400m regeneration project in Gloucester. Addleshaws advised UK property development company Peel after winning an informal tender process that included bids from several other UK firms. The national firm has worked with Peel for more than 15 years.
2 minute read

International Edition

Deals: M&A 22/02/2007

CMS Cameron McKenna has advised Galliford Try, a UK construction and house-building company, on its acquisition of residential building company Linden Holdings for £244.5m. Galliford will acquire 100% equity value of Linden for £108.5m and will assume Linden's net debt of £136m. Corporate partner Gary Green led the team at Camerons, while partner Adam Greaves at Jones Day led the team advising Linden.
1 minute read

International Edition

Deals: Commercial 22/02/2007

Taylor Wessing has advised Tussauds in relation to a franchise agreement and management agreement for a new 150-bed Holiday Inn at Chessington World of adventures. Corporate partner Richard Bursby led the team for Taylor Wessing. McGrigors commercial lawyer Catriona McGregor acted for the operator, BDL Management.
1 minute read

International Edition

Deals: Property 22/02/2007

Forsters property partner Andrew Crabbie has acted for the investment partnership Etonfields on a series of purchases worth £55.5m. The deals included the purchase of three properties from Eton College, six office properties from Rivercastle and Belfry Business Park from clients of Credit Suisse Asset Management. Real estate partner Lynn Povey at Charles Russell represented Eton College, solicitor Frances Berridge of Birketts represented Rivercastle and property partner Ashley Kopitko from Speechly Bircham represented the vendor in the third deal.
1 minute read

International Edition

Deals: Finance 22/02/2007

Pinsent Masons has advised a club of arranging banks, Lloyds TSB, HSBC and Icelandic bank Glitnir Banki HF, on the £45m refinancing of the fruit and snack specialists The Whitworths Group. The team at Pinsents was led by banking partners William Oliver and Martin Bishop. European Capital, which acquired the Whitworths Group in November last year, retains £14m of mezzanine debt. It was advised by Weil Gotshal & Manges banking associate Faisal Ramzan.
1 minute read

International Edition

Dealmaker: Peter King

A former M&A veteran of Linklaters, Peter King is one of Shearman & Sterling's leading European lawyers
4 minute read

International Edition

City duo face off for latest Warner-EMI bid

Freshfields Bruckhaus Deringer and Herbert Smith are gearing up for the latest instalment of the takeover saga between US media giant Warner Music Group and UK rival EMI. Both companies confirmed Warner has made a new approach for EMI, although a formal offer has yet to be made.
1 minute read

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