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.
Simpson Thacher & Bartlett and Danish firm Bech-Brunn have teamed up to advise the Apax-led consortium that has won the TDC auction.
Danish telecoms operator TDC accepted a Eur10.2bn bid last night (29 November) from Nordic Telephone Company (NTC), the bidding vehicle established by a consortium comprising Apax, Blackstone, Kohlberg Kravis Roberts, Permira and Providence.
Linklaters, led by banking partners Gideon Moore and Tom Wells, is understood to be advising the lending banks Barclays Capital, Credit Suisse First Boston, Deutsche Bank, JP Morgan and the Royal Bank of Scotland, on the financing aspects of the deal.
The deal looks set to become Europe’s largest leveraged buyout (LBO) as it exceeds the Wind LBO earlier this year. According to reports the five-strong consortium has secured $10bn through a combination of senior and high yield debt through the lending banks.
It is understood that NTC beat a rival bid from a consortium made up of Apollo, BC Partners, Cinven and Silver Lake. Rival Swisscom was also mooted as a potential purchaser.
As first reported in The Lawyer (28 November) Clifford Chance and leading Danish practice Kromann Reumert are acting for longstanding client TDC.
Simpson Thacher and Bech-Brunn advised the NTC consortium on both corporate and financing issues. The Bech-Brunn team was led by corporate partners Soren Meisling and Philip Risbjorn. Michael Wolfson led the Simpson Thacher team.