The Lawyer Africa Elite 2014 features an in-depth look at 46 leading independent firms’ strategies in 15 key sub-Saharan jurisdictions, as well as the views of in-house counsel from some of Africa’s largest companies... Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Cleary Gottlieb Steen & Hamilton has taken the lead role for private equity house CVC Capital Partners as it finalises its acquisition of the European activities of the Campbell Soup company.
A cross-office team from Cleary, including Brussels partners Laurent Legein and Jacques Reding, Paris-based Jean-Marie Ambrosi and London finance partner David Billington are advising the investment house on the proposed acquisition, which is set to complete early next year.
The deal will see CVC acquire the European part of Campbell Soup, excluding activities in the UK, Ireland, the Middle East and Africa. Campbell Europe owns various consumer brands of soup, sauces and bouillons and in the last fiscal year generated sales of €400m. The Belgian-headquartered company employs 1,300 people.
Allen & Overy is acting for Campbell Soup. Belgian corporate partner Pierre-Olivier Mahieu led the team, alongside employment partner Pieter De Koster, tax partner Patrick Smet and environmental law partner Gauthier van Thuyne.
Linklaters’ Brussels partner David Ballegeer is leading a team advising Rabobank, ING and BNP Paribas Fortis, who are joint underwriters and bookrunners to CVC’s senior debt financing for the deal.
Cleary’s Billington said: “This deal is a good example of how the market for European buyouts has continued to strengthen as the year has progressed, and the pipeline of transactions for the second half is building. While debt markets in the first half of 2013 were dominated by high yield, bank-underwritten term loan packages are returning in earnest as a welcome source of capital for the leveraged buyout market.”