Slaughter and May has advised Standard Chartered Bank on the sale of its shareholding in Standard Chartered Trustee and Standard Chartered Asset Management to a subsidiary of UBS, for $120m (£61m). Corporate partner Paul Olney led the team, working with Desai & Diwanji in India. Freshfields Bruckhaus Deringer corporate partner Philip Richards led the team advising UBS.
l Ashurst has advised Arla Foods UK in relation to a recommended cash offer by majority shareholder, the Danish cooperative Arla Foods, to acquire the remaining 49% of the company’s share capital. The deal values the company’s entire issued share capital at £434.5m. The Ashurst team was led by corporate partner Paul Gadd. Allen & Overy corporate partners Jeremy Hunt and Alan Paul (pictured) and associate David Foster acted for the acquirers.
