Deals roundup

Lovells turns out share offering hat trick


Lovells turns out share offering hat trick
Lovells’ equity capital markets team has had a bumper December and January after advising JPMorgan Cazenove and Merrill Lynch on three separate share offerings. The firm advised JPMorgan on the £92m placing and rights issue by Aero Inventory, a supplier of aeroplane parts, announced on 20 January. It also advised JPMorgan on the £64m placing and AIM listing of gas and oil producer Serica Energy, which closed in December. The firm advised Merrill Lynch on the $1bn (£563.3m) capital-raising and AIM listing of Lancashire Holdings. The instruction was Lovells’ first equity transaction for Merrill and Merrill’s first-ever AIM listing. The equity offerings were led by corporate partners Richard Brown, John Davidson and Nigel Read.

Herbert Smith closes Fortune Brands purchase
Herbert Smith and alliance firms Gleiss Lutz (Germany) and Stibbe (Netherlands) have advised US drinks company Fortune Brands on its £2.6bn acquisition of parts of Allied Domecq. Fortune bought Allied Domecq’s spirit and wine brands, including Courvoisier, Harvey’s, Laphroig, Maker’s Mark and Teacher’s, as well as the company’s distribution businesses in Germany, Spain and the UK. The deal represents the concluding part of Fortune Brands’ lengthy involvement in Pernod Ricard’s £7.4bn takeover of Allied Domecq. The Herbert Smith team was led by corporate partners Richard Fleck, Richard Lewis, Malcolm Lombers, James Palmer and Chris Parsons. New York-based Chadbourne & Parke advised Fortune Brands on US law, led by partners William Cavanagh, Charles Hord and Edward Smith.