Linklaters all smiles as Somerfield sell-off is finally realised

Linklaters will no doubt be delighted that the protracted £1.1bn takeover of supermarket group Somerfield completed last week. According to reports, the seven-month auction had to overcome last-minute hurdles regarding the financing of the takeover. Linklaters, led by private equity partner Raymond McKeeve, advised the purchasing consortium, which comprised Apax Partners, Barclays Capital and the Tchenguiz Family Trust. It is understood that Clifford Chance, Olswang and Weil Gotshal & Manges provided separate legal advice to Barclays, Tchenguiz and Apax respectively. The deal is the first successful transaction that Weil has advised Apax on since winning a place on its legal panel. The deal is also believed to be the first transaction Olswang has handled for Tchenguiz. Corporate finance boutique Dickson Minto advised regular client Somerfield. Eversheds advised Somerfield’s management.