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Transactions UK
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October 22, 2024
Kirkland Guides Wendel's $1.13B Bid For Monroe Capital Stake
French investor Wendel Group said Tuesday that it will take an initial 75% stake in U.S. asset manager Monroe Capital LLC for $1.13 billion to expand its private credit services as demand surges.
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October 22, 2024
Material Tech Co. HeiQ To Quit London Listing, Cut Costs
HeiQ PLC said Tuesday it has decided to cancel its share listing on the London Stock Exchange, as the U.K. textile technology company looks to cut costs and streamline operations amid a fall in demand for its goods.
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October 21, 2024
Amex To Take Over Swisscard Joint Venture From UBS
UBS Switzerland AG on Monday said American Express has agreed to take over its 50% stake in credit card provider Swisscard, getting control of the former Credit Suisse joint venture as the credit card giant looks to expand its business in Switzerland.
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October 21, 2024
Kirkland Hires 2 Structured Finance Attys In NY, London
Kirkland & Ellis LLP is continuing the build-out of its structured finance and private credit practice, announcing on Saturday the lateral hiring of two partners in New York and London.
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October 21, 2024
Billionaire Fights PE Giant Over Software Co. Stakes
An Irish venture capitalist has accused a unit of a major private equity firm of stopping him from forcing it out of its stake in a major management software company to make him buy them out at a premium, in documents disclosed at a London court hearing.
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October 21, 2024
CMA Probes German Print Biz's $325M Buy Of US Rival
Britain's antitrust regulator said Monday that it is investigating printing chemicals maker XSYS Germany GmbH's approximately $325 million proposed acquisition of MacDermid Graphics Solutions from U.S. specialty chemicals production company Element Solutions Inc.
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October 21, 2024
Catalent CEO Defends Novo Deal, Will Stay On After Buyout
Catalent CEO Alessandro Maselli told the medical company's customers Monday that Catalent will continue to support them following its planned $16.5 billion sale to Novo Holdings, seeking to assure clientele after Sen. Elizabeth Warren and advocacy groups pressured the Federal Trade Commission to scrutinize and potentially block the deal.
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October 21, 2024
Slaughter & May-Led Investor To Sell Logistics Co. For $760M
Bermuda investment holding company Ocean Wilsons said Monday its subsidiary has agreed to sell its majority stake in a maritime logistics company to a unit of container shipper giant MSC for 4.352 billion Brazilian real ($760 million).
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October 21, 2024
Norwegian Bank DNB To Buy Carnegie Holding For $1.14B
DNB Bank ASA said Monday it has inked a deal to snap up investment bank Carnegie for 12 billion Swedish kronor ($1.14 billion) in cash, advised by Swedish law firm Mannheimer Swartling.
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October 21, 2024
Debevoise-Led EQT Pool To Buy $14.5B Private School Biz
Swedish investment giant EQT AB said Monday that it has formed a new consortium to acquire international school operator Nord Anglia Education for $14.5 billion in a deal guided by Latham & Watkins LLP, Debevoise & Plimpton LLP and Ropes & Gray LLP.
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October 21, 2024
JAB To Buy Increased Stake In Coffee Biz For €2.16B
German conglomerate JAB Holding Co. said Monday it has agreed to increase its stake in global caffeinated-beverage giant JDE Peet's NV with the purchase of 86 million shares for €2.16 billion ($2.34 billion).
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October 21, 2024
Sanofi Sells Majority Stake In Opella To CD&R, French State
Pharmaceutical giant Sanofi SA said Monday that it will sell a controlling stake in Opella to U.S. private equity shop Clayton Dubilier & Rice LLC and France's public investment bank, in a deal valuing its consumer healthcare business at €16 billion ($17 billion).
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October 25, 2024
Sidley Hires Capital Markets Duo From Latham
Sidley Austin LLP has recruited two capital markets partners from Latham & Watkins LLP for its London office, further boosting its finance capabilities in the city after it recently snapped up a group of five partners from its U.S.-based rival.
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October 18, 2024
6 Firms Guide $1.1B Turkish-Kazakh E-Commerce Deal
Six law firms across three countries have guided a transaction announced Friday that will see Kaspi.kz, which runs a popular payments app in Kazakhstan, purchase a majority stake in Turkish e-commerce platform Hepsiburada for more than $1.1 billion in cash.
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October 18, 2024
Greenberg Traurig Helps BC Partners Shop 30 German Hotels
The real estate arm of British investment firm BC Partners said Friday that it has partnered with France-based hotel investor Hova Hospitality to acquire a portfolio of 30 hotels in Germany from AccorInvest.
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October 18, 2024
Insurance Deals Boom May Yield Admin Clog, Hymans Warns
The pensions risk transfer market has seen 600 buy-in deals completed since 2022, amid a boom in such transactions that could create an administration bottleneck as they advance to fall directly under insurers, Hymans Robertson said Friday.
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October 18, 2024
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen Professor Cat Jarman, Earl Spencer's new girlfriend, sue his ex-wife, Bitcoin fraudster Craig Wright file a £911 billion ($1.18 trillion) claim against BTC Core, journalist Oliver Kamm hit novelist Ros Barber with a defamation claim, and a barrister at Cloisters face a claim from a former client. Here, Law360 looks at these and other new claims in the U.K.
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October 18, 2024
Taxation With Representation: Baker, Simpson, Ropes
In this week's Taxation With Representation, Lundbeck inks a $2.6 billion cash deal for Longboard, Silver Lake agrees to buy Zuora for $1.7 billion, and PPG and American Industrial Partners reach a $550 million deal.
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October 18, 2024
FTC Faces More Pressure To Block $16.5B Novo-Catalent Deal
A dozen advocacy groups are pushing the Federal Trade Commission to block Novo Holdings' planned $16.5 billion purchase of Catalent, arguing that the deal would stifle competition for certain obesity and gene therapy drugs — and that no remedy can fix that.
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October 18, 2024
Lender KMBL Buys StanChart India's $490M Loan Biz
Indian lender Kotak Mahindra Bank said Friday it has inked an agreement to buy the personal loan book of Standard Chartered, India worth an estimated 4,100 crore Indian rupees ($490 million), in a move to bolster its retail credit business.
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October 18, 2024
TotalEnergies To Sell Brazilian Fuel Distribution Activities
Energy giant TotalEnergies said Friday that it has agreed to sell its fuel distribution activities in Brazil to a unit of Grupo Argenta for an undisclosed amount as it continues to distance itself from fossil fuels in favor of green energy alternatives.
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October 18, 2024
Boohoo Eyes Shakeup With Strategic Review
Fast-fashion retailer Boohoo Group PLC said Friday that it will conduct a strategic review of each of its divisions, a process that could lead to the sale of some of its online brands.
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October 25, 2024
Mishcon Hires Employment Partner In London From BCLP
Mishcon has hired a new employment law partner from Bryan Cave Leighton Paisner LLP to work in its London office, with the new arrival hinting on Friday that the move has been on the cards for some time.
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October 18, 2024
Gowling Steers Engineering Biz On £70M Aviva Pension Deal
Gowling WLG has guided the trustee of the pension plan of Rotork, a U.K. manufacturer of industrial valves, on a £70 million ($91.3 million) buy-in transaction with Aviva, meaning the company's scheme is now fully insured.
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October 18, 2024
Coke Bottler To Seek FTSE Inclusion After Shares Transfer
Coca-Cola Europacific said Friday that it plans to move its U.K.-listed shares to the Financial Conduct Authority's revamped main market, allowing the soft drink giant's bottling business to target inclusion on the FTSE UK Index Series.
Expert Analysis
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4 Ways M&A Deals Are Changing
There are signs that the market may be cooling, but recent trends in M&A transactions reflect more than just market strength and indicate that there has been a more general change in deal approach, say attorneys at DLA Piper.
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Opinion
Law School Admissions Shouldn't Hinge On Test Scores
The American Bar Association recently granted law schools some latitude on which tests it can consider in admissions decisions, but its continued emphasis on test scores harms student diversity and is an obstacle to holistic admissions strategies, says Aaron Taylor at AccessLex.
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How Market Challenges Are Affecting Deal-Making Trends
As private equity investors adjust to a new period of volatility and uncertainty in the marketplace, various trends in deal making are emerging in order to bridge valuation gaps and address financing concerns, say Alvaro Membrillera and Anna Pollak at Paul Weiss.
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What Digital Asset Decisions Mean For Future Disputes
Following a number of recent landmark decisions in the English courts, the law continues to develop in the sphere of digital assets, and several themes are emerging that will benefit both individuals and organizations, say Chris Recker at Duane Morris and Celso De Azevedo at The 36 Group.
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A Look At UK's 1st Report On Security Regime For Deals
The U.K. government’s recent report on the National Security and Investment Act, covering its first three months since it came into force in January, suggests that the regime may not be leading to a surge in benign notifications and that the government is responding quickly, which is good news for businesses, say attorneys at Cooley.
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What EU Changes To Dual Distribution Mean For Franchises
Following the European Commission’s adoption of the Vertical Block Exemption Regulation and accompanying vertical guidelines regarding dual distribution, which took effect this month, franchisors should examine their flow of information to and from franchisees to determine whether it must be restricted, say attorneys at Baker McKenzie.
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How ESG Matters Are Influencing M&A Due Diligence Trends
With a proliferation of environmental, social and governance-related regulatory developments and a desire to comply with best practice, ESG matters have become an increasingly important area of focus for both clients and advisers in M&A transactions, say attorneys at Sullivan & Cromwell.
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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.