This is the first deal the banking department of Linklaters & Alliance has advised on for Etex Group, a privately-owned Belgian company and a longstanding client of the corporate department. Linklaters corporate lawyers headed the work when it acquired UK building materials company Marley for £360m in 1999, but the firm was not instructed on the financing. On the purchase of Glynwed's pipe systems businesses, the compa
ny used a euro2.2bn (£1.4bn) syndicated loan underwritten by Deutsche Bank and Fortis Bank. Linklaters was involved in documenting the financing to cover the £786m purchase price, the refinancing of existing debt and the provision of working capital. Banking partner Philip Badge led the deal after his partner, and head of the alliance's banking practice Haydn Puleston Jones, initiated it over Christmas.