The Lawyer Asia Pacific 150 is the only research report to provide a ranking of the top 100 independent local firms and top 50 global firms in the region. The report offers critical review of some of the fastest growing firms and their strategies, a country-by-country guide to leading legal advisers and legal services market trends, plus exclusive insight into the current business development opportunities in the Asia Pacific. Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Field Fisher Waterhouse (FFW) and Travers Smith have been instructed to advise on Rangers FC’s £20m flotation on AIM.
The club announced the IPO this morning, with FFW corporate finance partner Christine Phillips advising Rangers.
Travers Smith corporate partner Philip Cheveley has been instructed by Cenkos Securities, the nominated adviser on the deal.
In trying to raise £20m, Rangers will aim to use the funds to boost capital, improve facilities, develop property and strengthen the playing squad.
Rangers is currently languishing in the Scottish Division Three following the administration and liquidation of the club (13 August 2012).
Its former lawyers Collyer Bristow and former owner Craig Whyte’s takeover vehicle, the Rangers FC Group, are being sued by administrators at Duff & Phelps for at least £25m in damages for allegations of conspiracy, breach of undertaking, negligence and breach of trust, in relation to the club’s financial meltdown (24 April 2012).
Charles Green, CEO of Rangers, said in a statement: “From the time we acquired the business and assets of Rangers FC, we indicated our intention to list the company and provide our fans with the opportunity to invest in their club. Rangers is debt-free and a huge club with enormous support and a 140-year track record of success on the domestic and international arenas. Our aim is to return the club to its glory days whilst ensuring it is run efficiently and profitably.”
Background to this deal:
Travers’ Cheveley was instructed for Cenkos and Investec as joint brokers to Assura Group on its £35m rights issue last year. He has previously acted for clients making multi-million pound cash offers for West Ham United FC and Aston Villa FC, as well as for General Sports & Entertainment’s acquisition of Derby County FC.
FFW’s relationship with Rangers includes being instructed by its new owner Charles Green during his takeover of the club, with Phillips on a team led by sport head Patrick Canno alongside corporate partners David Wilkinson and Amerjit Kalirai.
The firm’s links with Green go back years to an instruction for AIM-listed construction management specialist Formation Group when Green was chairman.
Sign up for the new Deals Insider email newsletter here for the best of The Lawyer’s transactional coverage every Monday