ireland: deal summary

A&L Goodbody acted for First Data on its $75m (£52.3m) acquisition of a 25 per cent share of Fexco, the financial services company. Commercial partner Michael Greene led a team of two on the deal, while Matheson Ormsby Prentice acted for Fexco.

A&L Goodbody, led by partner Michael Greene, acted for the employee owners of Basis Communication Corporation on its $450m (£313.9m) acquisition by Intel Corporation. The company was bought from the previous owners in 2000 for $12.5m (£8.7m). Intel was advised by its in-house counsel.

Arthur Cox advised Ulster Bank on the acquisition of Ulster Bank Investment Managers by KBC Bank for approximately euro105m (£65.5m). A team of nine was led by commercial partner Ciaran Bolger. Matheson Ormsby Prentice advised KBC Bank.

Carson McDowell acted for Foyleside on its £70m acquisition of Forestside Shopping Centre in Belfast, the largest ever single property deal in Northern Ireland. A team of six was led by head of commercial property Alan Reilly. Cleaver Fulton Rankin advised Forestside in the matter.

Carson McDowell acted for Sensormatic Corporation on its acquisition of the entire issued share capital of Intellectual Systems. A team of seven was led by corporate partner David Jameson. Intellectual Systems was advised by Tughan & Co on the acquisition.

Elliott Duffy Garrett acted for Redevco UK on the £30m development of the former C&A site at Donegall Place in Belfast. The development, currently under construction, has exchanged contracts with Next and WH Smith Group for the two available units. Next will pay an initial rent of £850,000, while WH Smith will pay £745,000. Head of property Laurence Mahood worked on the transaction. Next was advised by McKinty & Wright and Tughan & Co acted for WH Smith.

Mason Hayes & Curran was joint adviser with Ashurst Morris Crisp to Galen Holdings on its $400m (£279m) acquisition of Warner Chilcott. A team of two was led by head of corporate Paul Egan. Warner Chilcott was advised by McCann FitzGerald.

Matheson Ormsby Prentice acted for Vodafone Group on the euro4.2bn (£2.62bn) acquisition of mobile communications company Eircell. This is the largest ever corporate transaction in Ireland and the first demerger of a company without a court scheme. The deal was signed in December 2000 and was completed this month. The Matheson Ormsby team of 12 was led by corporate partners Robert Heron and Tim Scanlon, along with tax partner John Gulliver. Arthur Cox advised Eircom and Linklaters & Alliance also advised Vodafone Group.

Matheson Ormsby Prentice represented the board of directors of ICC Bank on the sale of ICC to the Bank of Scotland for IR£275m (£217.9m). The sale came as part of the Irish government's privatisation programme. Corporate Partner Tim Scanlon led a team of seven lawyers on the acquisition. Norton Rose advised HSBC Investment Bank, the financial adviser to ICC bank. McCann FitzGerald advised the Minister for Finance, and A&L Goodbody and Herbert Smith advised the Bank of Scotland.

McCann FitzGerald acted for Datalex on its initial public offering of 13.04 million ordinary shares and US depositary shares on Nasdaq and the Irish Stock Exchange. A team of six was led by corporate and commercial partners David Byers and William Earley. William Fry and Dorsey & Whitney acted for the underwriters.

McCann Fitzgerald acted for the Bank of Ireland on its euro500m (£312m) securitisation of its home loan portfolio. Banking and financial services partner Roy Parker led a team of three on the matter. The arranger, SBC Warburg Dillon Read, was advised by Freshfields Bruckhaus Deringer.

William Fry advised Iona Technologies on its $24m (£16.7m) acquisition of Genesis Development Corporation. Partner Myra Garrett (see “Eire Today…” on page 41) led a team of six on the deal. Testa Hurwitz & Thibeault advised Iona on the US aspects of the deal, while Genesis Development was represented by Reed Smith Shaw & McClay.