A pack of leading City law firms have been drafted in to advise on the £1.54bn scramble to acquire UK department store chain Debenhams.
Ashurst Morris Crisp is advising the target, an established client it has been acting for since it was demerged from The Burton Group about five years ago. The Ashursts team is being led by corporate partner Richard Gubbins.
Clifford Chance (CC) is acting for the bid vehicle, Laragrove, and advising private equity house Permira, which would hold the largest shareholding of the three partners with 37.5% equity in the department store group should this bid to acquire Debenhams succeed.
