Ashurst Morris Crisp has emerged as the lead adviser to Debenhams in the protracted bidding war between two rival groups of equity houses to acquire the department store operator.
The City leader is advising Debenhams on the recently lodged £1.7bn offer by Baroness Retail – a vehicle set up by CVC Capital Partners, Texas Pacific Group and Merrill Lynch Global Private Equity to make the bid.
Ashursts was already advising Debenhams on the £1.54bn offer made by Laragrove – comprising Permira, Blackstone and Goldman Sachs Capital Partners – at the end of July.
