Tite & Lewis, the firm linked to Ernst & Young (E&Y), has snatched a new international client from under the nose of Eversheds
The firm has just done its first piece of work for Japanese client Kowa Company, for whom it bought 5 per cent of the issued shares in UK-listed SkyePharma. SkyePharma was Kowa's first major UK acquisition, but the company has a UK branch and has previously used Eversheds for litigation work. But E&Y introduced Kowa to Tite & Lewis, which was doing due diligence on the SykePharma acquisition. The corporate team, led by partner Iain Young, completed the legal due diligence. Kowa then instructed Tite & Lewis on all corporate aspects. The acquisition of SkyePharma's shares was a precursor to a joint venture between the two companies for a drugs manufacturing plant in Lyon, France. The joint venture is expected to be announced this week and, according to Young, Kowa will instruct Tite & Lewis, making Kowa one of its most important clients. SkyePharma was represented by Stringer Saul and CMS Cameron McKenna, but Young said that Tite & Lewis hopes to secure the future corporate work on the French joint venture.