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.
DLA Piper, Freshfields Bruckhaus Deringer and Travers Smith have all won roles on the proposed sale of legal process outsourcer CPA Global (CPA) to London-based private equity house Cinven.
Private equity house Intermediate Capital Group (ICG), which acquired a minority $440m stake in CPA in 2010 (1 February 2010), agreed to sell its holding to Cinven subject to regulatory clearances. The deal is expected to close by the end of the first quarter of 2012.
Travers Smith has been re-appointed to act for CPA, led by head of corporate Chris Hale together with corporate partner Helen Croke. The firm advised CPA two years ago on the management buyout and acquisition by ICG.
DLA Piper coporate partner David Raff, who originally advised CPA in 2010, is representing CPA’s management team on the pending transaction along with partner Charles Cook, who replaces Kiran Sharma.
Cinven is being represented by go-to buyout adviser Freshfields, led by corporate partner David Higgins alongside corporate partner Adrian Maguire and finance partner Sean Pierce.
According to ICG, the deal will value CPA at £950m with the sale generating total proceeds of £387m as well as an additional £43m capital gain.
The outsourcer has recently made a number of high-profile hires, with former SJ Berwin senior partner David Harrel appointed as chairman in February last year (9 February 2011) and Rio Tinto managing attorney Leah Cooper joining as strategy director in 2010 (16 February 2010).