Dealmakers

UK: well connected

Anglo-Australian law firm Herbert Smith Freehills has advised long-time client BskyB on its acquisition of Telefónica UK’s entire Broadband and Fixed-Line Telephony Business.
The deal – expected to be completed by the end of April – will see BskyB become the second-largest broadband provider in the UK.
BSkyB will pay £180 million to Telefónica UK for its consumer broadband, home phone and line rental customers, while an extra contingent amount, not exceeding £20 million, may be payable dependent upon the successful delivery and completion of the customer migration process by Telefónica UK.
Herbert Smith Freehills fielded a team led by corporate partner and global head of M&A Stephen Wilkinson, which also included TMT partner Amanda Hale and senior corporate associate Andy Radford, with support from tax partner Howard Murray, competition partner Stephen Wisking, employment partner Andrew Taggart, disputes partner Nick Peacock and additional advice from Herbert Smith Freehills' data protection, IP and pensions teams.
Slaughter and May advised Telefónica UK.

Spain: energy boost

Spanish energy company Repsol has been advised by London law firm Linklaters on the $6.6 billion sale of its liquefied natural gas (LNG) assets to Royal Dutch Shell.
The deal includes minority stakes in Atlantic LNG (Trinidad & Tobago) Peru LNG and Bahia de Bizkaia Electricidad (Spain), as well as the LNG sale contracts and time charters with their associated loans and debt.
The transaction, which has generated $3.5bn pre-tax capital gain for Repsol, also sees the company surpass the divestment commitments outlined in its 2012-2016 strategic plan.
The Linklaters team was led by Alejandro Ortiz and Lara Hemzaoui (Madrid), and Matthew Hagopian (London).

UK: good hospitality

Atlanta-founded law firm King & Spalding has represented the management of North Yorkshire hotel and conference operator Principal Hayley Group in connection to the sale of the company to an investment fund affiliated with US company Starwood Capital Group.
Principal Hayley’s portfolio currently includes 23 properties across the UK and Europe, including well known hotels including The George, Edinburgh, the St David's Hotel, Cardiff, the Grand Central Hotel, Glasgow and the Hotel Russell, London.
Terms of the transaction were not disclosed.
London-based King & Spalding corporate partner William Charnley and senior associate Marcus Young handled the instruction.

Nigeria: power up

Global law firm Norton Rose has advised on the acquisitions of two state owned power companies from the Bureau of Public Enterprise and the Nigerian Ministry of Finance worth $300 million, as part of the Nigeria power sector privatisation process.
The firm advised Copperbelt Energy Corporation on its $164 million acquisition of a 60 per cent interest in Abuja Electricity Distribution Company acquired through KANN Utility Company Limited, a joint venture between CEC and XerXes Global Investments.
The deal is in addition to the firm’s role in advising West Power & Gas Limited on its $135 million acquisition of Eko Electricity Distribution Company.
Partners Arun Velusami and Bayo Odubeko led the Norton Rose team
CEC were also advised by Standard Bank of South Africa (financial), Detail Commercial Solicitors (Nigerian legal) and Aurecon (technical).
WPG were also advised by Africapital Management Limited and Global Emerging Markets (financial and transaction advisory), George Etomi & Partners (Nigerian Legal) and Sohn Associates (Technical).
Herbert Smith advised the Bureau of Public Enterprises and the Nigerian Ministry of Finance.

Kazakhstan: gold rush

New York-headquartered law firm     Debevoise & Plimpton has advised Russian gold mining giant Polyus Gold International Limited on the sale of its Kazakhstan and Kyrgyzstan assets to a consortium consisting of Institute Project BV, Financial Services BV and Folkstand Consortium Limited.
In the deal, Romanshorn and Polyus have sold 100 per cent of the shares in Kazakhaltyn MMC JSC for a cash consideration of $10 million less applicable withholding tax of US$ 1.5 million.
Debevoise also advised Polyus on its sale last year of 100 per cent interest in Romaltyn Limited for a total consideration of $20 million.
The Debevoise team was led by partner Natalia Drebezgina in Moscow and included partner Guy Lewin-Smith in London.