US firms Gibson Dunn & Crutcher and Cleary Gottlieb Steen & Hamilton have popped up in Deutsche Post's £3.7bn takeover of Exel. Gibson Dunn is providing US legal advice to Exel, while Deutsche Post has instructed Cleary. Meanwhile, Slaughter and May has teamed up with best friend Hengeler Mueller to advise Exel. The consideration will be made up of a mixture of cash and Deutsche Post shares. The transaction was announced last Monday (19 September) and is expected to close by the end of the year. Linklaters, led by corporate partners David Cheyne and Jeremy Parr, is acting for Deutsche Post. It is understood that this is the first time the magic circle firm has advised Deutsche Post in the UK. Richards Butler has won Trading Exchange as a new client after advising the AIM-listed company on the acquisition of EBT Mobile, the Shanghai-based mobile phone retailer and service provider. The enlarged group, which will trade as EBT Mobile, was readmitted to AIM on 8 September. Partner David Boutcher led the team on the reverse takeover, while Allen & Overy acted for the shareholders of EBT Mobile.
Gide Loyrette Nouel's London office has advised on the launch of a $500m (£277m) structured note programme, the first to be used to repackage sub-Saharan African assets. Partner Colin Mercer led the team acting for financial services firm Iroko Securities in establishing the English law programme for Sphynx Capital Markets, one of the first Mauritian protected cell companies to be set up. The programme will give investors an opportunity to benefit from African credit.