Dickson Minto, led by Peter Uni, is advising French equity group PAI Partners on its £800m acquisition of tyre and car parts retailer Kwik-Fit. PAI won the auction over rival bidders Kohlberg Kravis & Roberts, advised by Clifford Chance, and Bridgestone. According to reports, Michelin, the world’s number two tyre group, and US retailer Wal-Mart also participated in the auction. Linklaters is advising seller CVC Capital Partners. Willkie Farr & Gallagher and Cleary Gottlieb Steen & Hamilton advised PAI on French law and competition matters respectively.
Clifford Chance advised Banco Santander Central Hispano on what is believed to be the first share listing on the London Stock Exchange (LSE) under the new EU Prospectus Directive listing regime. Corporate partner David Pudge and capital markets partner Adrian Cartwright led the team advising Banco Santander on its secondary listing with the UK Listing Authority and admission to the LSE.
Allen & Overy (A&O) has consolidated its relationship with Centrica after acting on a €379.8m (£257.6m) joint venture with Gaz de France to acquire a 51 per cent stake in SPE, Belgium’s second-largest energy supplier. The deal will enable SPE to acquire Luminus NV, Centrica’s joint venture energy supply business in Belgium, valued at €207m (£140.4m), and ALG Négoce, Gaz de France’s retail joint venture in Belgium, worth €2m (£1.4m). The agreement is subject to competition clearance, which is expected in September. Freshfields Bruckhaus Deringer is advising Gaz de France. Cruyplants Eloy Hupin & Partners is advising SPE’s shareholders.