Skadden picks up new client via Mota-Engil Africa LSE listing

Skadden Arps Slate Meagher & Flom and Linklaters have scooped key roles advising on industrial conglomerate Mota-Engil Africa’s proposed IPO on the London Stock Exchange.

It is the second time Linklaters has advised an African company on a flotation in the UK in the last three months. In April, capital markets partner Ben Dulieu advised on the flotation of Nigerian oil and gas group Seplat, which was valued at $1.9bn. 

Linklaters is advising the underwriters of the IPO, while Skadden corporate finance partner James Healy is leading a team for engineering and construction group Mota-Engil Africa, a subsidiary of Portugese giant Grupo Mota-Engil. 

This is the first time Mota-Engil has instructed Skadden. It is unclear if the firm won the mandate following a competitive pitch process or had been contacted directly.

The business, which is set for a €1.5bn value, also used Portuguese firm Morais Leitão, Galvão Teles, Soares da Silva as co-counsel.

Skadden is the latest firm to gain a new client following an IPO proposal this week. Taylor Wessing has added FDM Group to its client list following a competitive pitch process for its IPO (19 June 2014).

FDM’s flotation on the London Stock Exchange, just four years after its management buyout, is now valued at £308.5m.