Duane Morris is advising longstanding client Cannon Avent Group, the provider of baby care products, in the restructuring of the group’s businesses and the sale of its baby care division to Charterhouse Capital Partners for £300m. The group is also demerging the Cannon-branded rubber car floor mats manufacturing business from its baby care division. Nabarro Nathanson is acting for the majority shareholders Edward and Celia Atkins, while Lovells is advising Charterhouse. Addleshaw Goddard is counsel to 3i, which holds a 21.6 per cent stake in Cannon Avent. Maples Teesdale has landed an instruction from new client Wrenbridge Land to advise it on the purchase of a 66,047sq ft warehouse in Luton. The unit was purchased with vacant possession by Wrenbridge and was funded by Palmer Capital Partners through a development fund. Denton Wilde Sapte is acting for the vendor, Peguform.
Ashurst partners Adrian Clark and Stephen Lloyd have lost out after their client Constellation Brands decided not to pursue a bid for Allied Domecq. The decision leaves the way open for France’s Pernod Ricard, advised by Macfarlanes and Debevoise & Plimpton, to continue with its nearly $13.5bn (£7.41bn) bid for the UK-listed drinks company. Herbert Smith is advising Fortune Brands, the US group that has teamed up with Pernod to take over Allied. Travers Smith is advising AIM-listed Cape on innovative proposals to provide long-term financing of asbestos-related claims against the company arising from its historic use of the cancer-causing substance. The proposals include the launch of a £40m fund and a creditor scheme of arrangement.