Transactions UK

  • July 19, 2024

    REIT Segro Sells €327M Logistics Warehouse Portfolio

    Real estate investment trust Segro PLC said on Friday that its joint venture in Europe has sold four warehouses in Italy for a total of €327 million ($356 million).

  • July 19, 2024

    UK Clears Roche's $295M Purchase Of Diagnostics Biz

    The U.K. antitrust watchdog said Friday that it has cleared a $295 million proposed purchase by Swiss drugmaker Roche of parts of diagnostic company LumiraDx.

  • July 19, 2024

    Casino Group Faces French Price-Fixing Probe

    Casino Group, the French retail giant that has recently undergone a restructuring, said it is being investigated by France's financial crime agency for possible price manipulation and corruption.

  • July 18, 2024

    Deals Rumor Mill: Google, StandardAero, Sony

    Google parent Alphabet is nearing a $23 billion Wiz buy, PE firms circle StandardAero at a potential $10 billion price, and Sony backs away from Paramount after the Skydance deal. Law360 breaks down these and other notable deal rumors from the past week.

  • July 18, 2024

    PE Firm's £432M Deal Awaiting NSIA Clearance Pushed Back

    Wealth management firm Mattioli Woods said Thursday that its approximately £432 million ($546 million) acquisition by London private equity firm Pollen Street Capital that is awaiting national security clearance is now likely to close a month later than expected.

  • July 18, 2024

    Octopus Renewables To Sell Swedish Wind Farm For €74M

    Octopus Renewables Infrastructure Trust PLC said Thursday that it has agreed to sell a wind farm in Sweden to a German institutional investor for approximately €74 million ($81 million) to release cash that will be used to reduce debt.

  • July 18, 2024

    Cleary-Led Blank-Check Co. To Buy Turkish Mine For $290M

    ACG Acquisition Co. Ltd. said on Thursday that it has agreed to buy a precious metal mine in Turkey from a subsidiary of Çalık Holding, an Istanbul-based conglomerate, for $290 million.

  • July 18, 2024

    Finnish Energy Co. To Sell Recycling Biz To PE Summa Equity

    Finnish state-owned energy company Fortum said on Thursday that it will sell its recycling and waste business to private equity firm Summa Equity for €800 million ($875 million).

  • July 18, 2024

    Tycoon Commits To 6-Day Service After Royal Mail Takeover

    The billionaire who has made a £3.57 billion ($4.64 billion) cash offer to buy Britain's national postal service said Thursday that he has committed to delivering letters across the U.K. six days a week if his bid succeeds.

  • July 18, 2024

    Sidley-Led Medical Co. To Buy Clinical AI Biz For £40M

    GE HealthCare, a U.S. medical multinational, said on Thursday that it has agreed to buy the clinical artificial intelligence business of U.K. software company Intelligent Ultrasound Group PLC, and other related assets, for £40.5 million ($52.6 million).

  • July 17, 2024

    Outsourcer Mitie Acquires ESM Power For Up To £8.5M

    Mitie Group PLC said Wednesday it has agreed to buy electrical engineering firm ESM Power for up to £8.5 million ($11.1 million), a move it expects will bolster its power projects business.

  • July 17, 2024

    TotalEnergies Sells Stake In Nigerian JV For $860M

    French fuel company TotalEnergies SE said Wednesday that it has agreed to sell its stake in SPDC JV licenses in Nigeria to Mauritius-based Chappal Energies for $860 million.

  • July 17, 2024

    Shipping Investor Tufton To Redeem $31.5M Worth Of Shares

    Investment business Tufton Oceanic Assets Ltd. on Wednesday confirmed plans to return up to $31.5 million to investors through compulsory share repurchases using proceeds from the sale of two tankers.

  • July 17, 2024

    Engineer Smiths Sells Shares In US Medical Biz For $152M

    Smiths Group PLC said on Wednesday that it has sold a stake in ICU Medical Inc., which makes protective items for the healthcare sector, for roughly $152 million with the U.K. engineering business saying it will use the proceeds "for general corporate purposes."

  • July 17, 2024

    Lathams Leads EssilorLuxottica's $1.5B Streetwear Brand Buy

    Italian-French eyewear giant EssilorLuxottica said Wednesday that it will buy U.S. urban fashion brand Supreme for $1.5 billion in cash from VF Corp.

  • July 17, 2024

    Investor Auréa To Buy Body Shop Out Of Administration

    Beauty investment company Auréa Group has signed an agreement to buy The Body Shop International Ltd. out of administration, the companies said on Wednesday.

  • July 17, 2024

    Allianz Bids $1.6B For Singapore's Income Insurance

    Allianz SE said on Wednesday it has made an all-cash offer to buy a majority stake in Singapore-based insurer Income Insurance Ltd. for 2.2 billion Singapore dollars ($1.64 billion), as the German financial services company seeks to expand its presence in Asia.

  • July 16, 2024

    UK's Probe Of Microsoft-Inflection AI Deal Moves Ahead

    The U.K.'s antitrust enforcer launched a formal merger inquiry on Tuesday into Microsoft Corp.'s relationship with Inflection AI after asking for public input earlier this year on several artificial intelligence investments made by Microsoft and Amazon.

  • July 16, 2024

    Labour Government Urged To Introduce Green Tax Credits

    The new Labour government should introduce tax credits for businesses investing in green energy technology, according to a tax expert from the Confederation of British Industry.

  • July 16, 2024

    Financial Intel Firm To Buy Fund Ratings Biz RSMR

    Fintel PLC said Tuesday it has conditionally bought Rayner Spencer Mills Research Ltd. for an undisclosed amount of money, making the purchase of the fund ratings and research agency its ninth acquisition in 12 months.

  • July 16, 2024

    Apax Completes Sale Of Internet Group Baltic

    The Apax IX Fund, in which Guernsey-based, closed-ended investment company Apax Global Alpha Ltd. is a limited partner, said Tuesday it has sold its remaining shares in Baltic Classifieds Group, a Lithuanian internet service provider.

  • July 16, 2024

    Precision Tools Supplier To Buy US Rival For Up To $683M

    Spectris said Tuesday that it has agreed to buy rival U.S.-based Micromeritics in a deal worth up to $683 million as the British precision tools supplier looks to improve its advanced materials analysis division and grow into the clean technology sector.

  • July 16, 2024

    Troubled REIT To Wind Down Amid £115M Debt Pile

    A struggling investment trust said Tuesday that it will wind down as it grapples with a £115 million ($149 million) burden of debt, an investigation by the Financial Conduct Authority and potential group litigation.

  • July 16, 2024

    PE Firm Sells 3% Stake In Trustpilot For £27.5M

    Private equity shop Vitruvian Partners LLP said on Tuesday that it has sold a 3% stake in Danish review website Trustpilot for £27.5 million ($35.7 million).

  • July 16, 2024

    Top UK Court Rules Deal Advice Fees Are Not Tax Deductible

    Britain's Supreme Court ruled Tuesday that £2.5 million ($3.2 million) paid in advisory fees by an investment company to Deutsche Bank and others is not tax-deductible as the expenses were "capital in nature" spent trying to dispose of a Dutch business.

Expert Analysis

  • Complying With EU Commission's Joint Purchasing Rules

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    One year after the European Commission released its revised guidelines on horizontal cooperation agreements, attorneys at Crowell & Moring reflect on the various forms such agreements can take, and how parties can avoid structuring arrangements that run afoul of competition law.

  • Tips For Implementing EU Sustainability Reporting Guidance

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    Lawyers at Sullivan & Cromwell discuss the European Financial Reporting Advisory Group’s recently published guidance on double materiality assessments and offer takeaways on achieving a sustainability directive-compliant process that could enhance clarity and consistency among multinational stakeholders.

  • What UK Digital Markets Act Will Mean For Competition Law

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    The new Digital Markets Act’s reforms will strengthen the Competition and Markets Authority's investigatory and enforcement powers across its full remit of merger control and antitrust investigations, representing a seismic shift in the U.K. competition and consumer law landscape, say lawyers at Travers Smith.

  • What French Watchdog Ruling Means For M&A Landscape

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    Although ultimately dismissed due to lack of evidence, the French competition authority’s recent post-closing review of several nonreportable mergers is a landmark case that highlights the increased complexity of such transactions, and is further testament to the European competition authorities’ willingness to expand their toolkit to address below-threshold M&As, say lawyers at Cleary.

  • Exploring The EU's Draft Standards On Crypto Authorization

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    The European Securities and Markets Authority’s recently published draft standards aim to promote fair competition and a safer environment for crypto providers and investors, detailing precisely the information to be provided to national authorities in charge of screening the acquisitions of a qualifying holding, says Mathieu de Korvin at Norton Rose.

  • What The New Digital Markets Bill Will Mean For Companies

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    The recently passed Digital Markets, Competition and Consumer Bill will bring significant reform to U.K. merger control and antitrust rules for all businesses, but the introduction of a strategic market status regime and its reporting obligations means large tech organizations in particular need to think carefully about the forthcoming changes, say lawyers at Linklaters.

  • Insurance Ruling Stresses High Hurdle To Fix Policy Wording

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    In Project Angel v. Axis, the Court of Appeal recently refused to rewrite the exclusion clause of an insurance policy, reminding parties in the warranty and indemnity market to carefully word clauses, as there is a high threshold before courts will intervene to amend policies, say Joseph Moore and Laura McCann at Travers Smith.

  • CMA Reports Signal Tighter Scrutiny Of AI Model Markets

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    The Competition and Markets Authority’s recent reports on artificial intelligence foundation models suggest that competition in AI is not working as it should, so large digital firms can expect the regulator to use its full toolbox as it continues to monitor and investigate the sector, say lawyers at Cooley.

  • How Gov't Response Addresses Investment Act Concerns

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    The government’s recently published response to a call for evidence on the National Security and Investment Act is largely appropriate to stakeholder concerns raised and demonstrates in its five areas of focus that it is willing to respond to live issues, say lawyers at Watson Farley.

  • Pharma Remains A Key Focus Of EU Antitrust Enforcement

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    The recently published European Commission report on pharmaceutical sector competition law illustrates that effective enforcement of EU rules remains a matter of high priority for EU and national authorities, say lawyers at Dechert.

  • The Dangers Of Providing Misleading Info In A Merger Review

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    Although Kingspan's recent proposed acquisition of Trimo, brought before the European Commission, was abandoned following investigation for an alleged breach of EU Merger Regulation requirements, it has brought to light the importance of submitting accurate and complete information in merger reviews to avoid incurring a substantial fine, say lawyers at Steptoe.

  • Cum-Ex Prosecutions Storm Shows No Sign Of Abating

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    The ongoing trial of Sanjay Shah in Denmark is a clear indicator that efforts remain focused on holding to account the alleged architects and beneficiaries of cum-ex trading, and with these prosecutions making their way across Europe, it is a more turbulent time now than ever, says Niall Hearty at Rahman Ravelli.

  • Spartan Arbitration Tactics Against Well-Funded Opponents

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    Like the ancient Spartans who held off a numerically superior Persian army at the Battle of Thermopylae, trial attorneys and clients faced with arbitration against an opponent with a bigger war chest can take a strategic approach to create a pass to victory, say Kostas Katsiris and Benjamin Argyle at Venable.

  • EU Inquiry Offers First Insight Into Foreign Subsidy Law

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    The European Commission's first in-depth investigation under the Foreign Subsidies Regulation into a public procurement process, and subsequent brief on regulatory trends, sheds light on the commission's approach to such cases, as well as jurisdictional, procedural and substantive issues under the regulation, says Matthew Hall at McGuireWoods.

  • Key Points From EC Economic Security Screening Initiatives

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    Lawyers at Herbert Smith analyze the European Commission's five recently announced initiatives aimed at de-risking the EU's trade and investment links with third countries, including the implementation of mandatory screening mechanisms and extending coverage to investments made by EU companies that are controlled subsidiaries of non-EU investors.

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