Ashurst’s continental M&A practice has secured a boost after signing off one of its biggest deals for core client Apax with the leading buyout house instructing the firm’s Madrid arm on a 900m (£625m) acquisition. The deal saw Ashurst’s Spanish corporate chief, Jesus Almoguera, lead a team for Apax on the acquisition of a majority stake in Catalan industrial baker Panrico.
Clifford Chance acted for debt provider Goldman Sachs. Spanish giant Garrigues advised the vendors, which include the Costafreda family and several minority shareholders.
