Slaughter and May is understood to be acting for longstanding client Cadbury Schweppes on its acquisition of the US Dr Pepper and Seven Up Bottling Group from the Carlyle Group.
Cadbury Schweppes is reportedly close to purchasing the largest US independent bottler from Carlyle for as much as £300m.
Slaughter and May is Cadbury Schweppes’ regular counsel, but the firm declined to comment if the firm was acting on the deal. London corporate partner Tim Boxell acted for Cadbury Schweppes late last year when Lion Capital and Blackstone Group bought the European drinks business for £1.27bn.
Likewise, Latham & Watkins is understood to be acting for key client Carlyle on the transaction.
Latham’s New York corporate partner Ron Hopkinson is the relationship partner for the longstanding client. Earlier this year Hopkinson led the Latham team advising a six-strong private equity consortium including Carlyle on its EUR7.5bn recommended cash offer for media giant VNU.