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US firm Latham & Watkins has bagged its first instruction from the management of Urbium, the owner of Tiger Tiger and other London bars.
London-based corporate partner Martin Saywell is advising Urbium's management on the £113m cash offer made by Lightflower Acquisition, a company created specifically for the deal and backed by venture capital group Electra Partners Europe.
Electra's takeover offer follows four separate indicative offers made earlier this summer by Regent Inns, the owner of the Walkabout sport bars, which were ultimately rejected by Urbium's board in July.
Electra is also believed to have outbid rival offers from other private equity houses. According to reports, one rival bidder is Charterhouse Capital Partners, which recently purchased the Barracuda pub chain.
Electra's offer is being received at a time when the pub market has generated particular interest from private equity houses with more businesses in the sector expected to turn private in the next year.
Herbert Smith, led by partner Tim Bellis, advised new corporate client Urbium. Meanwhile, Ashurst is acting for longstanding client Electra.
Royal Bank of Scotland is providing £29.6m of debt finance to Electra.