Linklaters bills Experian £15m for GUS demerger

Linklaters reaped around £15m in fees from Experian’s demerger from retail group GUS last year.

Last week (23 May) credit information company Experian revealed its first financial results since the demerger from GUS in 2006, showing that the spin-off had clocked up $149m (£75.03m) in professional adviser costs.

These were shared between Linklaters, Experian’s auditors and its financial advisers.

Experian did not officially break down its demerger costs beyond the $149m figure, but it is understood that Linklaters took a 20 per cent share of the costs, or $29.8m (£15.01m).

That is equivalent to 1.4 per cent of the firm’s total turnover in 2006-07, which after a 15 per cent jump on the preceding year broke the £1bn barrier for the first time.

The demerger created two FTSE100 companies and involved a three-part scheme of arrangement, five capital reductions in three jurisdictions, an £800m new share offer and IPO, and relocation of Experian to Ireland.

Linklaters used a 16partner team from London and New York, led by corporate head David Cheyne and corporate partners Iain Fenn and Nick Rumsby.