LG and Macfarlanes have won advisory roles on the sale of Russell Jones & Walker (RJW) to listed Australian firm Slater & Gordon.
LG corporate head Christopher Tite and partner David Ponsford acted for Slater & Gordon, the world’s first listed law firm, on the Aus$80m (£53.8m) deal. The transaction will see the Australian firm pay a £36.4m cash consideration, of which £8.8m will be handed over at a later stage dependent on attaining certain performance targets and £10.3m will go towards repaying bank debts (30 January 2011).
The Australian firm will also issue shares worth £17.4m, but these will be subject to sale restraints for four years.
Macfarlanes partner John Dodsworth advised the RJW partnership.
Dodsworth said the deal was “the first significant transaction of its type in an industry set for change”.