DLA, Freshfields and Jones Day score roles on sale of West Ham
DLA Piper, Freshfields Bruckhaus Deringer and Jones Day have all netted roles on the sale of West Ham United FC sale to former Birmingham City FC owners David Gold and David Sullivan.
DLA Piper, led by partners Mel Sims and Alex Griffiths with associates Patrick Tweedale and Sarah Walters, advised Sullivan on the purchase of a 50 per cent stake in the club from asset managers CB Holdings, valuing the club at £105m.
Freshfields partner Neil Falconer and associate Lauren Giblin, advised CB Holdings, whose majority shareholder with a 70 per cent stake is the Icelandic investment bank Straumur.
Jones Day, led by business restructuring head Adam Plainer, and partners Paul Bromfield and Ed Borrini, represented the banking syndicate.
“We’re pleased to have worked with the syndicate of banks on this deal, which should ensure that West Ham United can continue in the Premiership without any uncertainty hanging over the club’s future,” said Plainer.
Jones Day also represented the banking syndicate in CB Holdings’ acquisition of West Ham United from investment vehicle Hansa, owned by Bjorgolfur Gudmundsson, in June 2009.
Readers' comments (1)
Anonymous | 20-Jan-2010 1:29 pm
There's no background about Mr Sullivan either here or in DLA Piper's press release. I wonder why ... as the firm itself says, "Everything Matters". Let's see what the Times says:
Sullivan, 55, owns Britain's biggest licensed sex shop group, the 90-strong Private Shops, and a property portfolio that has grown in value. The Welsh-born publisher entered the porn market at 21 while working at one of Gerald Ronson's (qv) petrol stations. His day job paid him £30 a week but he made £700 to £800 weekly producing porn pictures and flogging sheets of 50 photos for £1 by mail order. By the mid-1970s he had half of the adult magazine market. Soon he and the Gold brothers (qv) joined forces. In 1986 they launched Sunday Sport.
Right, I think I get it now.
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