Milbank seals first deal for Sainsbury family

Milbank Tweed Hadley & McCloy has sealed its first deal for the Sainsbury family.

Former Freshfields Bruckhaus Deringer partner Tim Emmerson advised Lord David Sainsbury’s trust the Gatsby Charitable Foundation on its disposal of £130m worth of shares to investment bank UBS.

The disposal was by way of an auction and UBS was advised in-house.

Gatsby Charitable Foundation has said it needed the cash for various causes to which it had made pledges.

Emmerson had links with the Sainsburys from his time at Freshfields. The family still owns around 34 per cent of the company. Of this, 21 per cent is held in a blind trust for government minister David Sainsbury.