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Transactions UK
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September 03, 2024
BBVA Gets UK Regulatory OK For €12B Bid For TSB Owner
Spanish lending giant BBVA said Tuesday the U.K.'s Prudential Regulation Authority has given the approval for it to indirectly acquire control of British-based TSB Bank PLC as part of its €12 billion ($13.3 billion) hostile takeover bid of rival Banco de Sabadell.
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September 03, 2024
TotalEnergies Forms $444M India JV With Adani
Energy giant TotalEnergies said Tuesday that it has agreed to invest $444 million to set up a new joint venture with India's largest renewable energy company, Adani Green Energy Ltd., for a solar project in the southeast Asian country.
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September 03, 2024
EU Wrong To Probe Illumina's $8B Grail Deal, Top Court Says
Europe's highest court said Tuesday that the European Commission had no authority to investigate Illumina's $8 billion acquisition of cancer detection company Grail and unwind the deal, as it delivered a blow to the bloc's merger control powers.
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September 02, 2024
Simpson Thacher-Led Blackstone Inks €1B Property Deal
Blackstone Inc. is snapping up an 80% holding in a portfolio of European properties valued at approximately €1 billion ($1.1 billion), seller Burstone Group Ltd. said Monday, with Simpson Thacher & Bartlett LLP advising the asset management giant.
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September 09, 2024
A&O Shearman Hires PE Pros From Sidley Austin In London
A&O Shearman LLP said Monday it has secured a double-hire from Sidley Austin LLP in London as the firm expands its global private equity practice.
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September 02, 2024
Freshfields Steers Maritime Biz's £50M Stake Buy In Tech Co.
Lloyd's Register, a maritime professional services and technology provider, said Monday that it has agreed to buy a majority stake in software business Ocean Technologies Group in a deal anticipated to be worth £50 million ($66 million).
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September 02, 2024
William Fry Guides Ireland In AIB's €500M Buyback
Allied Irish Banks said Monday that it plans to buy back €500 million ($550 million) of its shares from the Irish state to reduce its crisis-era bailout stake in the lender after it disclosed "a very strong first half" of the year.
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September 02, 2024
UK Underwriter Dual Buys Specialist Travel Insurance Co.
Underwriter Dual UK said Monday that it has acquired International Passenger Protection, a managing general agency, as it plots further expansion into the travel insurance sector.
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September 02, 2024
Dickson Minto-Led Investor Phoenix To Take Over UK Rival
Phoenix said Monday that a trust it runs has agreed to a proposal to merge with rival Artemis Alpha Trust PLC to create a stronger investment company with combined net assets potentially worth approximately £353 million ($464 million).
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September 02, 2024
Murdoch's REA Group Considering Offer For UK's Rightmove
Rupert Murdoch's online real estate advertising company said Monday that it is considering making a takeover offer for U.K. property business Rightmove PLC, a move that could force a big-name off of the London Stock Exchange.
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August 30, 2024
Monthly Merger Review Snapshot
The Federal Trade Commission went to court against Kroger's $25 billion purchase of Albertsons and geared up for its looming handbags merger case, the Justice Department added to its case against Live Nation, and the sports-streaming juggernaut partnering ESPN, Fox and Warner Bros. Discovery hit a significant roadblock.
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August 30, 2024
UK's Labour Gov't Urged To Raise Capital Gains Tax
The Labour government is facing calls to raise the capital gains tax despite financial firms advising investors to sell off their assets or even leave the United Kingdom over the possible tax hike.
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August 30, 2024
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen television property developer Kambiz Babaee hit with a fraud claim, a Bitcoin podcaster reignite a dispute with Australian computer scientist Craig Wright and football club owner Massimo Cellino's company file a claim against ClearBank. Here, Law360 looks at these and other new claims in the U.K.
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August 30, 2024
UK Biotech Biz To Cancel AIM Listing Amid Administration
Troubled U.K. biotechnology company ReNeuron Group PLC said Friday that it will delist its shares from the London Stock Exchange on Sept. 2 on the recommendation of its administrators, after remaining suspended for more than six months from the trading.
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September 06, 2024
White & Case Taps Weil For New Restructuring Head In Paris
White & Case LLP said Friday that it has recruited a senior restructuring specialist as a partner from Weil Gotshal & Manges LLP in Paris to steer the leadership of its practice in the French capital.
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August 30, 2024
Plane Lease Co. Sells 2 Aircraft For $10M
U.K.-listed commercial passenger aircraft leasing company Avation PLC said Friday it has sold two short-haul aircraft to Danish Air Transport — also known as DAT A/S — for approximately $10 million, after repayment of various bank loans.
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August 30, 2024
Sainsbury's To Buy 10 Homebase Stores For £130M
British grocery giant Sainsbury's said Friday that it has agreed to acquire 10 stores from garden supplies chain Homebase for approximately £130 million ($171.3 million) to convert them into supermarkets, increasing its footprint across England, Northern Ireland and Scotland.
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August 30, 2024
Home REIT Sells 101 Properties For £18.5M
Home REIT PLC said Friday that it has sold more than 100 properties for £18.5 million ($24.4 million), as the struggling property investment trust looks to pay back its debts and inject working capital into the business.
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August 29, 2024
Food Firm Greencore To Extend Share Buyback By £10M
Greencore Group PLC said Thursday that it planned to increase its ongoing £30 million ($40 million) share repurchase program by £10 million, further strengthening the food-to-go company's returns to investors.
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August 29, 2024
Hogan Lovells-Led Paint Company Sells Silicas Biz For $310M
Hogan Lovells-advised paint company PPG on Thursday announced that it has agreed to sell its silicas business to Polish chemicals company Qemetica SA in a deal that would produce roughly $310 million in pre-tax proceeds.
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August 29, 2024
I3 Energy Convenes Shareholders On £174M Takeover Bid
British oil and gas company i3 Energy PLC said Thursday that it has convened shareholder and court meetings for the approval of the approximately £174.1 million ($225.4 million) takeover offer by Canada-based international petroleum company Gran Tierra Energy Inc.
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August 29, 2024
Pension Consolidator Would Be Useful, Broadstone Says
Proposals put forward by the previous government to launch a public sector consolidator of retirement savings plans run by the pensions lifeboat fund would be a "welcome addition" to the market, Broadstone said Thursday.
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August 29, 2024
Builders' Merchant Grafton To Buy Back £30M Worth Of Shares
Grafton Group PLC started a share repurchase program on Thursday worth up to £30 million ($40 million), aimed at lowering its outstanding share capital, as the builders' merchant business reported a slump in profits.
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August 29, 2024
White & Case Guides Mærsk Family's $840M Engines Biz Bid
The Mærsk family of Danish shipping magnates said on Thursday that it has made a $840 million offer for Swedish engine systems manufacturer Concentric AB to help it expand and develop products that will help reduce emissions.
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August 29, 2024
Law Firm Can Use Client Comms To Fight Conspiracy Claim
A commercial law firm and its solicitor can fully plead their defenses against claims of conspiracy, a London court has ruled, finding that details of communication with clients are not limited by legal professional privilege because of a recently clarified legal exception.
Expert Analysis
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Changes To UK Competition Rules Will Extend CMA Powers
Recent amendments to U.K. competition and consumer law regimes introduce changes to merger control and antitrust investigations that will result in the speedier resolution of cases and greater autonomy for the Competition and Markets Authority, say Bill Batchelor and Aurora Luoma at Skadden.