Stamp of approval RT Images
The UK Government ‘s largest privatisation for years has seen a plethora of top firms on the job. Freshfields is representing the Department for Business, Innovation & Skills (BIS)
Freshfields Corporate Partners Tim Jones and Martin Nelson-Jones lead the team with pensions partner Charles Magoffin also on the case. Slaughters is advising Royal Mail whilst Linklaters is advising underwritrs Goldman Sachs and UBS. The European Commission approved the restructuring of Royal Mail last year. With these changes, the Government hopes to relieve excessive pension costs relating to its past monopoly position and to ultimately cut Royal Mail Group's debt by £1.08bn.
The London and Moscow offices of Debevoise & Plimpton have advised Uralkali, one of the world’s largest potash producers, on a pre-export finance facility with a group of 14 international banks. London based Deveboise partner Peter Hockless led the deal assisted by Moscow based associates Anastasia Aboeva and Dmitry Karamyslov. The loan facility, which is worth a total of $1 billion, will be used for general corporate purposes and the refinancing of existing loans of Uralkali.
London: Dining out
The real estate team of national law firm, Irwin Mitchell is advising Urban Hotels, leading creator of boutique hotels in the UK, on the development agreement for construction and lease for the latest Bruno Loubet restaurant, Grain Store. The new French inspired bistro at King’s Cross London will open its doors in June. The Irwin Mitchell team was led by head of construction David Parton, assisted by Louise Cartwright on real estate and Vanessa Greaves on construction matters.
United States/Russia: Orthopedic implants
Luther Rechtsanwaltsgesellschaft mbH recently advised US company Zimmer Holdings on the acquisition of German company Normed Medizin-Technik GmbH. Zimmer Holdings is a lead supplier worldwide for orthopedic implants. Normed develops, produces and markets medical products in the areas of hand, foot, orthopedic and cranio-maxillo-facial surgery. The deal means that Zimmer Holdings will be able to expand in the development of wrist and ankle products.