Herbert Smith acted for First Choice Holidays on its £40m acquisition of sailing and specialist tour operator Sunsail International from its management, Mercury Asset Management and ECI Ventures. The issue of approximately 25 million First Choice ordinary shares raised £35m, with the balance dependent on profits for the current year. Corporate partner David Paterson led the team. Bristol-based Bond Pearce, led by corporate partner Mark Hepworth, advised the vendors of Sunsail.
SJ Berwin advised Robert Stephen Holdings (RSH), the management and industrial holding company owned and controlled by the Rubin family, on its
recommended offer of £215m for household goods and textiles company, Pentland Group. The deal is due to complete in November. Lawyers had to seek clearance on a share exchange by the Panel on Takeovers and Mergers. Corporate partners Jonathan Metliss, John Osler and Delphine Currie led the team. Linklaters & Alliance, led by corporate partner Tom Wethered, advised Pentland Group. Wethered was assisted by Dimity Boswell.
