Deal watch: Corporate activity in June 2015

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US CITY TEAMS TAKE LEAD ROLES ON GHG’S £1.5BN DEBT RESTRUCTURING

General Healthcare Group (GHG)’s £1.5bn debt restructuring, involving two commercial mortgage-backed securitisations (CMBSs), saw Paul Hastings’ London office win a role advising Capita Asset Services, which acted on behalf of the senior lenders. Milbank, Tweed, Hadley & McCloy represented the junior lenders, while Weil, Gotshal & Manges acted for Barclays, which had roles both in the CMBSs and as counter-party to an interest rate swap. Sidley Austin and Clifford Chance acted for other swap counter-parties, while Simmons & Simmons acted for GHG.

 

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Dealwatch: CC and Linklaters take lead on GE’s $2.2bn finance unit sale to Japan’s SMBC

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Magic Circle duo Clifford Chance (CC) and Linklaters have taken lead advisory roles on General Electric’s $2.2bn sale of its European private equity financing business to a unit of Japan’s Sumitomo Mitsui Banking Corp (SMBC).

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Dealwatch: A&O and Linklaters sweep roles on €25bn supermarket merger alongside US trio

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The €25bn merger between international food retailers Delhaize Group and Royal Ahold has seen Allen & Overy (A&O) and Linklaters win roles advising the two sides alongside Cravath, Swaine & Moore, Simpson Thacher & Bartlett and Sullivan & Cromwell.

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Dealwatch: Ashurst and BLP gifted roles on Nutella-maker Ferrero’s takeover bid for Thorntons

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LB100 firms Ashurst and Berwin Leighton Paisner (BLP) have both landed leading roles advising on the recent £112m takeover bid by Italy’s Ferrero International for British confectioner Thorntons, after the latter suffered falling profits and the resignation of its chief executive.

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Dealwatch: Dickson Minto lands role alongside A&O and Ashurst on $1.7bn ERM sale to Canadian pension funds

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Allen & Overy (A&O), Ashurst and Dickson Minto have won key roles on the off-market acquisition of Environmental Resources Management (ERM) by Canadian pension funds OMERS Private Equity and co-investor Alberta Investment Management Corporation (AIMCo).

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Dealwatch: Pinsents, Travers, CC join Debevoise on £500m Motor Fuel Group disposal

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A trio of LB100 firms –Travers Smith, Clifford Chance, Pinsent Masons – have lined up alongside Debevoise & Plimpton in landing key roles on Patron Capital’s recent £500m sale of one of the UK’s biggest independent petrol station operators, Motor Fuel Group, to US private equity firm Clayton, Dubilier & Rice (CD&R).

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Dealwatch: US trio’s City teams take lead roles on GHG’s £1.5bn three-year debt restructuring alongside Simmons and CC

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Teams at the London offices of Paul Hastings; Weil, Gotshal & Manges, and Milbank, Tweed, Hadley & McCloy all took on key roles in the three-year negotiations over Simmons & Simmons-client General Healthcare Group’s (GHG) £1.5bn debt restructuring.

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Deal watch: Corporate activity in May 2015

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SLAUGHTERS AND LINKS ACT ON SANTANDER AND UNICREDIT’S ASSET MANAGEMENT TIE-UP

Slaughter and May, best-friend firm Uría Menéndez and Davis Polk & Wardwell in the US were instructed by Santander as it combined its asset management arm with Linklaters’ client UniCredit’s Pioneer Investments. The deal created one of Europe’s biggest asset managers, with €350bn under management.


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Deal watch: Corporate activity in April 2015

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GE RESTRUCTURING BRINGS IN RAFT OF ADVISERS

A host of firms picked up work on General Electric (GE)’s restructuring, fielding large cross-border teams as the industrial giant sold $26.5bn of real estate assets and announced it would divest most of GE Capital’s other holdings. Hogan Lovells led for GE on the real estate sale, with buyers The Blackstone Group and Wells Fargo represented by Simpson Thacher & Bartlett and Dechert respectively.

Weil, Gotshal & Manges is advising GE on the wider restructuring, which will return up to $90bn to shareholders, alongside Sullivan & Cromwell and Davis Polk & Wardwell.

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Dealwatch: Clifford Chance, Travers Smith, Debevoise and BLP advise on £1.2bn BCA sale

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A quartet law firms including Clifford Chance (CC), Travers Smith, Debevoise & Plimpton and Berwin Leighton Paisner (BLP) have all secured instructions on the £1.2bn sale of BCA (formerly British Car Auction) to publicly listed investment vehicle, Haversham Holdings.

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