Slaughters leads on Spirit’s pub purchase

Slaughter and May is celebrating its client Spirit’s successful £2.51bn acquisition of Scottish & Newcastle’s pub estate.

Slaughters partner Kathryn Davis led the team advising the Spirit consortium, with corporate partner Hywel Davies and debt finance partner Mark Hutchinson assisting.

The firm won the instruction following its work on Spirit’s demerger from Punch Taverns, which in turn came from its role as adviser to Spirit’s leading investor Texas Pacific Group. Cleary Gottlieb Steen & Hamilton advised on US tax issues.

A plethora of firms advised Spirit’s other private equity investors. Herbert Smith and Simpson Thacher & Bartlett advised the largest new investor, the Blackstone Group.

Linklaters erected Chinese walls, with Graham White advising CVC Capital Partners and Jeremy Parr advising Merrill Lynch Global Private Equity.

Shearman & Sterling scooped a role advising the other Spirit investors thanks to its relationships with Soros Private Equity Partners and Morgan Stanley Real Estate Funds. Others included Cap Vest Equity Partners and Colony Capital.

Freshfields Bruckhaus Deringer advised Scottish & Newcastle on corporate issues while Lawrence Graham advised the brewer on property and supply documentation.