CC lands finance mandate on Pernod Ricard bid

Clifford Chance has landed the mandate to advise Pernod Ricard’s banks in relation to the French drinks group’s offer for Allied Domecq.

The magic circle firm is understood to be advising JP Morgan, Morgan Stanely and Credit Suisse First Boston – the banks that are funding Pernod Ricard’s offer.

Although the instruction is a boost to Clifford Chance’s acquisition finance team the firm’s decision to accept the mandate means that it is conflicted from acting for client Constellation Brands.

Constellation, the US drinks group, has appointed Merrill Lynch and NM Rothschild to advise on a potential counter-bid for Allied Domecq.

Allied Domecq and Pernod Ricard are being advised Linklaters and Macfarlanes respectively.

Clifford Chance declined to comment.