A healthy uptick in transactional activity has brought a handful of players in line for a windfall, as City-firm Travers Smith and US-firm Baker Botts secured leading roles advising on the $1bn demerger of Paragon Offshore from drilling company Noble Corporation.Elsewhere, UK-firms Burges Salmon and Mills & Reeve landed heavyweight roles advising on the £249m sale of the troubled Co-operative Group’s farm business to charitable foundation Wellcome Trust.
The demerger of Houston-headquartered Paragon, a provider of standard specification offshore delivery units in the oil and gas industry, from international offshore drilling contractor Noble means the company will trade separately on the New York Stock Exchange.
