The Lawyer Africa Elite 2014 features an in-depth look at 46 leading independent firms’ strategies in 15 key sub-Saharan jurisdictions, as well as the views of in-house counsel from some of Africa’s largest companies... 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.
Ashurst to win T&F Informa's acquisition of IIR" />CMS Cameron McKenna is celebrating securing the lead role on T&F Informa's $1.4bn (£760m) acquisition of US conference organiser IIR, beating the publishing group's other main adviser Ashurst to the role.
The acquisition marks the first major M&A deal for T&F Informa since last year's merger of publishing house Taylor & Francis with academic book and journal publisher Informa. That deal, concluded in May 2004, saw Ashurst advise Taylor & Francis and Camerons act for Informa.
The latest acquisition sees T&F Informa acquire IIR from founder and 93 per cent shareholder Lord Laidlaw of Rothiemay for $1.4bn. The deal is to be funded by a £311m rights issue by T&F Informa, underwritten by broker Hoare Govett, with the balance funded through debt provided by ABN Amro.
Camerons partner John Burton, the firm's T&F Informa relationship partner, led on the deal, while corporate partner Sean Watson sits on T&F Informa's board of directors.
T&F Informa drafted in Ashurst to advise on the debt facility and to act for Hoare Govett as underwriter on the rights issue, suggesting that the group is seeking to maintain a competitive tension between its two main advisers.
Ashurst corporate partner and T&F Informa relationship partner Jeffrey Sultoon advised Hoare Govett on the underwriting agreement, while finance partner Mark Vickers advised the publishing group on the debt facility.
Allen & Overy, led by partner Francis Bridgeman, advised ABN Amro as debt provider.
It is understood that T&F Informa has no in-house legal capability, with the group's finance director Tony Foye and company secretary Jeff Thomasson largely responsible for outsourcing legal work. Both hail from the Taylor & Francis side of the business. IIR, however, is understood to have a general counsel based in Amsterdam.
Lord Laidlaw instructed Paul Weiss Rifkind Wharton & Garrison on the disposal. The Scottish Tory peer could gain up to $1.3bn (£710m) from the deal.