Transactions UK

  • June 27, 2024

    Sackers Steers Bentley Trustee In £880M Pensions Deal

    Luxury carmaker Bentley Motors Ltd. has passed £880 million ($1.1 billion) of the liabilities of its staff pension plan to Standard Life, the insurer said Thursday, in a deal steered by Sacker & Partners LLP, Travers Smith LLP and Eversheds Sutherland.

  • June 27, 2024

    Freshfields Helps Saint-Gobain Seal $1B Deal For Dubai Biz

    Saint-Gobain said Thursday that it will buy Dubai-headquartered Fosroc for $1.025 billion in cash as it looks to boost its worldwide presence in the construction chemicals market.

  • June 26, 2024

    FCA Asked To Block Shein IPO Over Forced Labor Concerns

    A Uyghur rights group said Wednesday that it has teamed up with Leigh Day to block Shein from floating on the London Stock Exchange over concerns it uses forced labor.

  • June 26, 2024

    Learning Technologies Sells US Biz VectorVMS For $50M

    Learning Technologies Group PLC said Wednesday it has agreed to sell its U.S.-based vendor managing platform to Pixid Group for $50 million, as it looks to refocus its business portfolio.

  • June 26, 2024

    Britain's Phoenix Group Plans Sale Of SunLife

    Life insurance heavyweight Phoenix Group said Wednesday that it is planning to sell its SunLife Ltd. subsidiary that provides financial services to over 50s in the U.K.

  • June 26, 2024

    Haleon To Sell Nicotine Replacement Biz For Up To £500M

    Haleon PLC said Wednesday that it will sell its nicotine replacement business outside the U.S. to Indian pharmaceutical group Dr. Reddy's Laboratories for up to £500 million ($632 million) to streamline its business.

  • June 26, 2024

    Canadian Mining Biz Ups Stake In Chile Copper Co. For $350M

    Canadian mining company Lundin Mining Corp. said Wednesday that it has increased its stake in a copper mining company to 70% by buying an additional 19% of its shares from JX Advanced Metals Corp. for $350 million to boost its copper production globally.

  • June 26, 2024

    Eversheds Steers £33M Pension Deal For Metal Recycling Co.

    A global scrap metal company has offloaded £33 million ($42 million) of its U.K. staff pension liabilities to insurer Aviva PLC, advisers said Wednesday, in a deal steered by Eversheds Sutherland.

  • June 26, 2024

    DLA Piper Launches Investment Management & Funds Practice

    DLA Piper formally launched its global investment management and funds practice Wednesday to meet increasing client demand and align with market trends, supporting asset managers, fund sponsors and investors.

  • June 26, 2024

    Zurich To Acquire AIG's Travel Insurance Biz For $600M

    Zurich Insurance Group said Wednesday that it will buy the personal travel insurance business from U.S. financial group AIG for $600 million to help the Swiss insurer to become a leading provider of holiday cover in the U.S.

  • June 26, 2024

    Investor Onepoint Walks Away From Atos Restructuring Talks

    French IT consultancy Atos said Wednesday that investor Onepoint has pulled out of a proposal to restructure its €4.8 billion ($4.05 billion) debt pile, making room for Czech billionaire Daniel Křetínský to rejoin discussions.

  • June 25, 2024

    Int'l Paper Gets US Clearance On $7.2B DS Smith Buy

    International Paper Co. and its U.K. competitor DS Smith PLC said Tuesday that the waiting period for U.S. antitrust authorities to try and block their planned roughly $7.2 billion merger has expired. 

  • June 25, 2024

    BP's Castrol Invests $50M In Battery-Swapping Biz

    Castrol, a lubrication giant owned by oil major BP, has invested up to $50 million in Gogoro Inc., an electric vehicle battery-swapping business, a move it believes will help diversify its portfolio, according to a joint announcement released Tuesday.

  • June 25, 2024

    Macquarie To Exit €1B Italian Hydroelectric Biz

    Infrastructure asset management giant Macquarie Asset Management said Tuesday that it has agreed to sell its entire 40% stake in Hydro Dolomiti Energia in a deal that values the Italian hydroelectric power company at approximately €1 billion ($1.07 billion).

  • July 02, 2024

    Paul Hastings Hires Finance Pro Reena Gogna From Weil

    Paul Hastings LLP has recruited a finance specialist from Weil Gotshal & Manges LLP in London to boost its offering to lenders in leveraged finance transactions and other complex deals.

  • June 25, 2024

    HSF Steers £195M Sale Of UK Power Plant To Portuguese Firm

    Portuguese renewable energy group Greenvolt said Tuesday that it has agreed to acquire the owner of a biomass renewable heat and power generation plant in southeastern England for £195.3 million ($248 million) to strengthen its position in the country.

  • June 25, 2024

    Home Safety Biz Investors Back Takeover By Singapore Rival

    FireAngel Safety Technology Group PLC said Tuesday that more than 90% of its shareholders have agreed for the company to be bought out by smoke-alarm rival Intelligent Safety Electronics Pte. Ltd. of Singapore in an all-cash deal valued at £27.7 million ($35.2 million).

  • June 25, 2024

    Squire Patton Guides PE Shop's Insurance Platform Deal

    European private equity shop Perwyn has said it will acquire specialist insurance platform Atec Group from rival buyout business Kester Capital to strengthen its stable of niche and non-standard products.

  • June 25, 2024

    Hogan Lovells-Led Property Biz Ups Stake In Mall For £120M

    Land Securities Group PLC said Tuesday it has acquired an additional 17.5% of a shopping mall near London from Singapore sovereign wealth fund GIC Pte Ltd. for £120 million ($152 million), boosting its stake to 66.25%.

  • June 24, 2024

    CEO Can Sue Nickel Mining Co. In UK Over 'Ambiguous' Firing

    An employment tribunal has ruled that the former CEO of a Zambian mining company can pursue his unfair dismissal claim in the U.K. after concluding that his contract was subject to English law.

  • June 24, 2024

    Covestro, Abu Dhabi Oil In 'Concrete' Talks For $12.5B Deal

    German chemicals group Covestro AG said Monday it is advancing its talks to potentially sell the business to the Abu Dhabi National Oil Co. after the United Arab Emirates' oil group upped its bid to more than €11.7 billion ($12.5 billion).

  • June 24, 2024

    Pets At Home Begins First Tranche Of £25M Share Buyback

    Pets at Home Group PLC on Monday kicked off the initial phase of an up to £25 million ($32 million) share repurchase program aimed at lowering its outstanding share capital.

  • June 24, 2024

    Salmon Steers £25M Pension Deal For Travel Co.

    Legal & General will take on £25 million ($31.7 million) worth of pension liabilities from a scheme sponsored by travel company TUI in a deal steered by Burges Salmon LLP, advisers on the transaction said Monday.

  • June 24, 2024

    French Aviation Giant In Talks To Buy AI Biz For €220M

    French aviation and defense giant Safran said Monday that it is in "exclusive discussions" to acquire an aerospace artificial intelligence and defense company for approximately €220 million ($237 million) to integrate the latest technology into its own portfolio.

  • June 24, 2024

    Prudential Launches First Tranche Of $2B Buyback Program

    Insurer and asset manager Prudential PLC has commenced an initial $700 million share buyback program, the first phase of a wider up to $2 billion repurchase scheme, advised by Slaughter and May.

Expert Analysis

  • Merger Ruling Shows Risk Of Not Seeking Prior CMA Approval

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    The recent decision by the U.K. Competition and Markets Authority to unwind the acquisition by Cerelia Group of Jus-Rol demonstrates that despite the voluntary nature of the U.K. reporting regime, parties may wish to consider the potential for wider scrutiny when deciding whether to seek merger control clearance, say attorneys at Hogan Lovells.

  • Warranty & Indemnity Insurance Considerations For M&A

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    With increased competition and greater capacity leading to lower premiums and deal costs, warranty and indemnity insurance is now available to the wider M&A market, and may help to limit risk and help parties focus on other key elements of the transaction, says Alice Wooler at Birketts.

  • What The Dignity Takeover Deal Says About M&A Trends

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    While some public companies may prefer to go private to maximize company growth and shareholder returns, there are potential pitfalls and in the current uncertain economic climate pairing up between private equity and public entities is likely to increase, as evidenced by the recent Dignity takeover deal, says James Lyons at Lawrence Stephens.

  • How Geopolitical Change Is Affecting M&A Activity In Europe

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    Several factors are leading businesses to divest from Russia and invest in central and Eastern European EU member states, with particular sectors attractive to U.K. companies and certain trends in M&A transactional activity emerging, says Oksana Howard at Colman Coyle.

  • Discovery Blocking Reform Better Protects French Companies

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    The 2022 reforms to France's 1968 blocking statute gives French companies more tools to resist abusive discovery requests from foreign competitors and public agencies, but France should do more to defend confidential information and assert its sovereignty, says Raphael Gauvain at Betto Perben.

  • A Look At New Vertical Laws, Their Opportunities And Pitfalls

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    Looking at trends that have gained the most traction under the new vertical laws in the EU and U.K., it is clear that brands should use the transition period wisely, ensuring that lessons have been learned on what to avoid and that go-to-market strategies are future-proof, say attorneys at K&L Gates.

  • Why 2023 Could Be The Year Of The Restructuring Plan

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    As U.K. businesses face a challenging economic environment going into 2023, the stage may be set for a rise in restructuring plans, with early signs such as an increasing body of case law, the pragmatic approach taken by the judiciary to date and the cross-class cramdown mechanism, say Rachael Markham and Charlotte Møller at Squire Patton.

  • How Mur Ruling May Affect Force Majeure Considerations

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    The recent U.K. Court of Appeal decision in Mur Shipping v. RTI demonstrates that exercising reasonable endeavors can include payment in an alternative currency to overcome a force majeure event, and is topical for contracting parties in light of Russia-related sanctions, say attorneys at Debevoise.

  • ECJ Fiat Ruling Sets Clear Boundaries For EU State Aid Law

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    The European Court of Justice's recent landmark decision in Fiat v. Commission limiting the commission’s attempts to circumvent the lack of EU powers in the area of tax law has important implications in EU state aid law and beyond, say Andreas Reindl and Pietro Stella at Van Bael.

  • Cos. Can Expect Intense Antitrust Enforcement This Year

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    In 2023, authorities in the U.K. and Europe are expected to push the boundaries of antitrust enforcement, merger control and foreign investment screening with the goal of achieving positive outcomes for consumers, say Nicole Kar and Tara Rudra at Linklaters.

  • Foreign Direct Investment Considerations For Buyers, Sellers

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    The rapidly developing legal and regulatory foreign direct investment landscape means the challenge for deal makers is in navigating the continuously changing rules and understanding the manner in which regulators interpret them, says Kurt Ma at BCLP.

  • Widely Forecast UK Recession Is Likely To Reshape M&As

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    Despite the economic downturn in the U.K., transactions will continue to get done in 2023, albeit with more complex terms and a greater focus on undertaking vigorous due diligence on customer relationships and contracts, say attorneys at Skadden.

  • Czech Z-Trade Ruling Shows Benefit Of Compliance Program

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    With its recent Z-Trade fine reduction decision, the Czech Office for the Protection of Competition has for the first time put into practice its compliance program consideration policy, providing a further incentive for companies to implement such programs and underlining the office's intention to pay attention to them, say Vojtech Chloupek and Martin Taimr at Bird & Bird.

  • Lessons That May Be Learned From The Demise Of Made.com

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    With Made.com going into administration, companies that may face similar challenges should take on board that the earlier adequate preemptive planning is considered, the more financial and legal options there will be to avoid last minute firefighting and to focus instead on strengthening the business, says Eleni Michaela at Faegre Drinker.

  • Link Ruling Shows FCA's Wide Change-In-Control Powers

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    The Financial Conduct Authority's recent decision regarding the proposed acquisition of Link Fund Solutions is a reminder that the regulator has significant powers to attach conditions to its approvals and the advent of the Financial Services and Markets Bill could lead to the widening of those powers, say Charlotte Hill and Daniel Hirschfield at Taylor Wessing.

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