PE DOUBLE FOR CC
Clifford Chance (CC) completed two major private equity deals in a month, advising as Cinven, Permira and Mid Europa Partners acquired Allen & Overy client Allegro for $3.3bn. In addition, CC acted for Cinven as well as CVC Capital Partners on the acquisition of consumer finance provider NewDay, opposite Slaughter and May, which advised long-time client and seller Värde Partners, and Jones Day, which represented the management of NewDay.
CARLYLE BRINGS IN FRESHFIELDS
In its first major mandate for Carlyle Investment Management in recent years, Freshfields Bruckhaus Deringer advised as the private equity house picked up chemicals firm Atotech from Total for $3.2bn. Regular adviser Latham & Watkins also acted for Carlyle on the financing aspects of the deal.
BETS OFF IN WILLIAM HILL BID
Gibson, Dunn & Crutcher and Slaughter and May acted for William Hill as it considered a merger with Canadian firm Amaya, worth around £4.5bn. Ashurst advised the Toronto-based gambling outfit, however merger discussions were abandoned in October.
PINSENTS WIN TEVA DIVESTMENT ROLE
Pinsent Masons is advising Teva Pharmaceutical Industries on its sale of the UK business of Actavis Generics for £603m to Intas Pharmaceuticals, which is being advised by Linklaters. Teva is looking to divest assets following last year’s takeover of Allergan for $40bn, which saw Latham & Watkins advising Allergan and Sullivan & Cromwell acting for Teva.