Ashurst has secured a key instruction frm William Hill over its plan to raise £1.2bn in a rights issue and debt facility, alongside Allen & Overy (A&O) and Skadden ;Arps ;Slate Meagher & Flom.
Ashurst corporate partner Anthony Clare advised the gambling group, while Skadden capital markets partner James Healy acted for the underwriting banks on the £350m cash call.
A&O banking partner David Campbell represented the lending banks, which have agreed to provide funding worth £838.5m.
Ashurst won a place on William Hill’s new streamlined panel in June last year alongside Addleshaw Goddard and Pinsent Masons.
Ashurst was not on the panel prior to this review, which saw general counsel Thomas Murphy invite around 10 firms to tender before settling on just three.
Ashurst ;corporate partners Anthony Clare and Jonathan Earle acted for the bookmaker and betting shop chain last October when it acquired assets from AIM-listed ;online ;gaming software provider Playtech.
In 2005 the firm was on the other side of a deal, advising Stanley Leisure on the sale of its UK betting division to William Hill.
A number of companies have asked shareholders to provide extra capital
since January. Freshfields Bruckhaus Deringer advised British Land and Xstrata on capital raisings, with Linklaters advising the underwriters on both deals.
