Transactions UK

  • October 16, 2024

    Skadden Drives Forest Road To Formula E Team Acquisition

    Los Angeles-based investment firm The Forest Road Company, advised by Skadden Arps Slate Meagher & Flom LLP, has purchased the ERT Formula E team. The team is rebranding as Kiro Race Co as it prepares to enter the 11th season of the ABB FIA Formula E World Championship under new ownership.

  • October 16, 2024

    Ex-IT Firm Director Fights For Stake In Biz At Top UK Court

     A former director of LA Micro Group fought to persuade Britain's top court on Wednesday that he still has a stake in the IT company because he never relinquished it in writing after falling out with his business partner.

  • October 16, 2024

    Australian Oil Giant Woodside Latest To Quit LSE

    Woodside Energy Group Ltd. said Wednesday it will scrap its listing on the London Stock Exchange, citing low trading volumes and administrative costs, in favor of bourses in the U.S. and Australia.

  • October 16, 2024

    UK Property Biz Hammerson Develops £140M Share Buyback

    Hammerson PLC said Wednesday that it has launched a share buyback program worth up to £140 million ($182 million), as the U.K. property giant looks to trim its share capital and reward investors.

  • October 16, 2024

    Argentina Denied UK Top Court Appeal In €1.3B Bond Dispute

    Argentina cannot dodge paying out on an outstanding €1.3 billion ($1.4 billion) to bondholders after wrongly adjusting the way it calculates yields for government securities after Britain's highest court refused to consider the case.

  • October 16, 2024

    PE Giants Bridgepoint, General Atlantic Invest In Kyriba Corp.

    Private equity shops Bridgepoint and General Atlantic said Wednesday that they will invest in Kyriba in a deal that values the liquidity manager at more than $3 billion.

  • October 15, 2024

    Wyndham Says Vacation Group Awaze Withheld TM Royalties

    Hotel chain operator Wyndham has told a London court that a vacation group that it licensed its trademarks to as part of the purchase of Wyndham's European holiday rentals business cannot unilaterally reduce its royalty payments following an internal reorganization.

  • October 15, 2024

    Starmer Hints At National Insurance Hike Over Capital Gains

    British Prime Minister Keir Starmer on Tuesday again refused to rule out raising employers' National Insurance, a payroll levy used to fund social programs, after downplaying claims that his government is planning to raise the capital gains tax.

  • October 22, 2024

    Hughes Hubbard Adds Securities Pro From Clifford Chance

    Hughes Hubbard & Reed LLP has hired an experienced U.S. securities and capital markets expert as a partner in Paris, as the firm looks to grow its financing and cross-border M&A practices in Europe.

  • October 15, 2024

    InPost Pays £60M For Full Control Of UK Distributor Menzies

    InPost Group SA said Tuesday it has paid £60.4 million ($80 million) for the 70% of shares in Menzies Distribution Ltd. that it does not already own, which the Polish company expects will boost its parcel locker business in the U.K.

  • October 15, 2024

    Banknotes Maker Agrees To Sell Unit For £300M

    Banknotes maker De La Rue said Tuesday that it has agreed to sell its authentication division and related entities to a U.S. company for £300 million ($390 million) in a deal steered by Bird & Bird, Slaughter and May and Freshfields.

  • October 15, 2024

    UBS Told To Bolster Crisis Plans After Credit Suisse Deal

    UBS must boost its emergency plans after buying stricken rival Credit Suisse to ensure that the combined group can wind down or be sold without cost to taxpayers, Switzerland's finance watchdog said on Tuesday.

  • October 15, 2024

    Supplement Co. Shoots For £400M Valuation In London IPO

    Applied Nutrition PLC said Tuesday that it is eyeing a market value of up to £400 million ($523 million) when the U.K. sports supplement company starts to trade on the London Stock Exchange later in October to finance an expansion.

  • October 15, 2024

    Ventilation Biz Told To Sell UK Sites After CMA Probes Deal

    The Competition and Markets Authority said Tuesday that Swedish ventilation company Lindab must sell two sites in the U.K. after finding that its now-completed deal to snap up a British rival could lead to higher prices.

  • October 14, 2024

    Latham-Led TI Fluid To Back Apollo's Increased £1B Offer

    Auto parts supplier TI Fluid Systems PLC said Monday that it has received an offer worth approximately £995 million ($1.3 billion) from private equity-backed Canadian competitor ABC Technologies Inc., which the British company indicated it is inclined to accept.

  • October 14, 2024

    Netherlands To Buy 2 Air Defense Systems For $1B

    Norwegian company Kongsberg Group said Monday that the government of the Netherlands has agreed to acquire two air defense systems from its defense and aerospace division for approximately 11 billion Norwegian krone ($1 billion).

  • October 14, 2024

    Permira Wraps $7.2B Deal For Squarespace Amid Litigation

    Private equity firm Permira said Monday that it has successfully bought the outstanding stock of Squarespace Inc. in its proposed $7.2 billion deal to take the website builder private, amid ongoing shareholder litigation in the U.S. challenging the transaction.

  • October 14, 2024

    PE Biz BP Marsh Invests £2.5M In Startup Underwriter Volt

    BP Marsh & Partners PLC said Monday that it has made an investment worth up to £2.5 million ($3.3 million) in Volt UW HoldCo. Ltd., snapping up a 25.5% stake in the insurance startup that specializes in energy transition.

  • October 14, 2024

    Baker McKenzie Leads Lundbeck's $2.6B Deal For US Pharma

    Lundbeck said Monday that it has agreed to buy Longboard, a U.S. biopharmaceutical business, for $2.6 billion in cash as the Danish drug giant aims to capture a drug with "blockbuster potential" to treat a rare form of epilepsy.

  • October 21, 2024

    Mayer Brown Taps Life Insurance Expert From Skadden

    Mayer Brown LLP has hired an insurance expert as a partner at its London practice as the U.S.-based firm looks to boost its U.K. presence in the complex life insurance sector.

  • October 14, 2024

    Pulp Giant Int'l Paper Shareholders Back £5.8B DS Smith Buy

    International Paper Co. said Monday that its shareholders have "overwhelmingly" supported the planned £5.8 billion ($7.6 billion) all-share purchase of DS Smith PLC, its smaller U.K. rival, as the packaging giant eyes overseas expansion.

  • October 14, 2024

    Rockhopper Insures Against Italy Annulling €190M Award

    British energy company Rockhopper Exploration PLC said Monday that it has penned an insurance policy to cover the potential annulment of the €190 million ($207 million) arbitral award it won against Italy after the country banned oil and gas projects off its coastline.

  • October 14, 2024

    Mulberry Weighs Position After Shareholder Rejects £111M Bid

    Luxury brand Mulberry Group PLC said Monday that it is reviewing its position after its majority shareholders rejected a sweetened £111 million ($145 million) proposed takeover bid from Frasers Group.

  • October 11, 2024

    France Targets Largest Cos. With Tax In Austerity Budget

    The French government said it plans to implement a temporary tax targeting the country's biggest companies as part of a budget of €61.3 billion ($67 billion) of fiscal changes intended to help bring the deficit in line with European Union rules.

  • October 11, 2024

    UK Litigation Roundup: Here's What You Missed In London

    This past week in London has seen billionaire Lakshmi Mittal sue steel magnate Sanjeev Gupta in a long-running clash to claw back €140 million ($153 million) of debt, a high-profile AI researcher take action against the Intellectual Property Office to register his software as a listed patent inventor and troubled housing trust Home Reit face a claim by a real estate developer. Here, Law360 looks at these and other new claims in the U.K.

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