HSBC points Slaughters to BIL deal

Slaughter and May has sealed its first major deal for Singapore-based investment company BIL International following a valuable referral from HSBC.

Nigel Boardman, head of Slaughters' corporate practice, and corporate partner Richard de Carle are advising BIL on a possible bid for Thistle Hotels plc.

HSBC has been instrumental in getting both corporate and financing work to Slaughters, despite being the only magic circle firm that is not on the bank's legal panel.

Slaughters was first introduced to BIL through HSBC's London office two years ago.

The introduction came about after Slaughters worked alongside HSBC for a common client. HSBC's investment banking division is the financial adviser to BIL on the Thistle takeover.

BIL, which has a primary listing on the Singapore Exhange, has approached the Leeds-based hotel chain and is considering making an offer.

Slaughters' relationship with BIL will be managed by Boardman in London and partner Andrew Johnson in Singapore. Boardman said: “We hope that if we do a good job they will give us more work in the future.”