Slaughters client acquires Scottish & Newcastle

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. First revealed on 8 October