Osborne Clarke wins £555m NCP deal

Osborne Clarke has advised private equity group 3i on its successful bid to buy parking services and traffic management company NCP for £555m.

The FTSE 100 buy-out house beat six rival bidders, including Australian bank Macquarie and European carparks operator Cintra to acquire NCP from Cinven, which bought the business in 2002.

It is understood that Osborne Clarke won the mandate to advise 3i after Lovells turned down the instruction because the City firm was already acting for Cintra.

Ashurst advised Cinven while Travers Smith acted for management. Senior debt facilities are being provided by Mizuho Bank, which is being advised by Clifford Chance.