Yoplait, the maker of Petits Filous yoghurts, has bought out its joint venture partner Dairy Crest, leading to instructions for Eversheds and Nabarro.
Yoplait called on Nabarro corporate partner Caroline Newsholme, paying Dairy Crest £63.5m for its 49 per cent share of the venture.
Eversheds corporate partner Aleen Gulvanessian represented Dairy Crest.
Allen & Overy Paris partner Christophe Jacquemin advised the lending banks and Linklaters Paris partner Nathalie Hobbs provided advice for Yoplait on financing the deal.
Dairy Crest, which supplies more than half of the milk for Sainsbury’s and Morrisons, will use the money to reduce its net debt to £435m.
Eversheds has been main corporate counsel to Dairy Crest since 2007, when it displaced Clifford Chance.
The magic circle firm continues to advise the company, acting on its purchase of a £150m bulk annuity policy from Legal & General last month.
