Macfarlanes’ corporate team has secured instructions from Hogg Robinson on the travel company’s forthcoming float. The deal will see the UK’s biggest corporate travel company return to the London Stock Exchange after a six-year absence.
The team overseeing the float is led by senior partner Robert Sutton and Robert Boyle. New York firm Sullivan & Cromwell is also acting for the company.
A team from Slaughter and May, led by Mark Horton, is acting for the underwriters along with Davis Polk & Wardwell. Lazard and Merrill Lynch are the joint sponsors, whilst Citigroup, Credit Suisse, Lehman Brothers and Merill Lynch International are the bookrunners.
Slaughters led for Permira (then called Schroder Ventures) on the private equity group’s £300m management buy-out of Hogg in 2000.
Hogg is looking to raise £190m by issuing new shares, giving it a value of up to £650m, including debt and pensions liabilities of £150m.