The Lawyer’s new China Elite report contains the most detailed research available on the PRC legal market and contains unparalleled insight into the country's leading law firms. They vary in size, practice focus and geographic coverage, but they all share one common quality – ambition... 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.
Clifford Chance, led by corporate partner Matthew Layton, advised Permira Funds on its sale of the hotel chain to private equity firm Dubai International Capital (DIC), advised by Freshfields.
Clifford Chance also advised Permira back in 2003 when the buy-out group purchased Travelodge for £712m, again advised by Layton and now global private equity head James Baird. Freshfields advised Compass Group, which sold Little Chef along with Travelodge, on that deal.
Travelodge’s senior management, which will all stay on under the new ownership, was advised by Addleshaw Goddard, which also handled the property aspects of the deal. The DIC acquisition is unconditional and expected to complete by late September.
The deal is the second major transaction on which Freshfields has advised DIC, following the £700m acquisition of British engineering firm Doncasters Group earlier this year.
Freshfields co-head of global private equity Chris Bown and corporate partner Bruce Embley led the advice to DIC. Finance partner Edward Evans and real estate partner Annette Byron were also involved along with senior Middle East counsel Eric Milne.
Addleshaws corporate partner Simon Pilling led the advice to Travelodge, along with real estate partner Lucy Sturrock and tax partner Ed Jenkins.
Travelodge operates 291 hotels, with 279 in the UK, nine in Ireland and three in Spain and has an aggressive UK growth strategy to become the biggest budget operator by 2012 with more than 7,000 rooms in London.