Private Acquisitions and Disposals
We have considerable experience in advising on private acquisitions and disposals of both companies and businesses across a broad range of sectors.
We advise on some of the largest cross border deals and strategically significant deals.
We are able to provide sophisticated legal advice of the highest quality on all types of deal while at the same time remaining rooted in the reality of the market place.
- Our work encompasses all types of transactions including disposals and acquisitions, auctions, group reorganisations and intra-group transactions.
- Much of our work is cross-border or multi-jurisdictional in nature and we recognise the need to fully understand our clients’ attitude to risk in considering international transactions.
- We have considerable experience of joint ventures ranging from conventional holding company joint ventures, through limited and general partnership structures to semi-permanent mergers by contract in the form of dual-listed companies. These structures often cross international boundaries, involve parties from a range of different jurisdictions and include operative agreements under a variety of national laws.
- We recognise the need for efficient due diligence and appropriate scrutiny and apply the latest legal technology to ensure that we work efficiently and quickly.
- We understand that for our clients the strategic value of a transaction may not be directly linked to monetary consideration, irrespective of value we provide the same high level of service and expertise.
A selection of our experience includes advising:
GlaxoSmithKline on the creation of a world-leading Consumer Healthcare joint venture with Pfizer to combine their consumer health businesses into a new world-leading joint venture with combined sales of approximately £9.8 billion. GSK will have a majority controlling interest of 68% and Pfizer will have an equity interest of 32% in the joint venture.
Whitbread plc on its sale of Costa Limited to The Coca-Cola Company for an enterprise value of £3.9 billion. The acquisition represented a substantial premium to the value that analysts believe would have been created through the previously-announced demerger of the business. The acquisition was negotiated over a relatively short period of time, following an unsolicited approach by The Coca-Cola Company in June 2018.
DS Smith plc, a leading international packaging business, on the UK aspects of the disposal of its plastics division to Olympus Partners for an enterprise value of $585 million
Our experience of all types of private transactions ensure that we are well placed to assist our clients in navigating the most complex deals.