The Lawyer’s new China Elite report contains the most detailed research available on the PRC legal market and contains unparalleled insight into the country's leading law firms. They vary in size, practice focus and geographic coverage, but they all share one common quality – ambition... 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.
Freshfields, which was instructed by Goldman Sachs, and Sullivan were brought in by Peacock's management and the US investment bank to structure the £410m deal.
Meanwhile, as first reported on www.thelawyer. com (31 October), Allen & Overy (A&O) has leveraged off its role on Malcolm Glazer's controversial takeover of Manchester United by landing the mandate to advise Och-Ziff and Perry Capital.
The US hedge funds that helped finance Glazer's ultimately successful takeover of Man Utd earlier this year have taken a 44 per cent equity stake in Henson, the bid vehicle incorporated for the purposes of the Peacock takeover.
Another 44 per cent of the equity will be held by Peacock's chief executive Richard Kirk, the chief financial officer Keith Bryant, and Neil Burns, an executive director.
A&O won the role because corporate partner Andrew Ballheimer, who is leading the team advising the hedge funds on the Peacock transaction, advised Glazer on the Man Utd takeover. Ballheimer is also believed to have a personal contact at Och-Ziff.
A source close to the deal denied that the move was a major threat to the private equity market. He argued that the hedge funds lacked the deal origination and deal execution expertise at which private equity houses excel.
Ashurst and Macfarlanes acted for Peacock and the management buyout team respectively. Meanwhile, Clifford Chance is understood to have advised Goldman Sachs on the debt financing aspects of the deal.
The Freshfields team was led by corporate partner Farah Ispahani.