21 Jul 2022

Freshfields, Ropes & Gray tapped to advise Euromoney in £1.6bn cash offer by Astorg

Norton Rose Fulbright and Latham & Watkins also called in to advise on the deal

Freshfields Bruckhaus Deringer, Ropes & Gray, Latham & Watkins and Norton Rose Fulbright (NRF) are advising in connection to pan-European B2B information provider Euromoney’s acquisition by Luxembourg private equity firm Astorg for £1.6bn. 

The deal, expected to be completed in Q4 2022, will see Euromoney shareholders receive £14.61 per share from Astorg and UK firm Espiris.  

Upon closing, the business will be split into two separate arms, with Euromoney’s commodity pricing data title Fastmarkets set to become a stand-alone unit owned by Astorg, while Espiris will retain Euromoney’s financial and professional services and asset management divisions. 

This offer is reportedly the fifth one made by the consortium after its earlier cash propositions were rejected until it eventually landed on putting forward the possible £14.61 share price, which represents a 34% premium to Euromoney’s share price on June 17, according to Bloomberg

Now that the deal is being entertained, Freshfields is representing London-based Euromoney, while Latham and Ropes & Gray are acting for Astorg. NRF is advising BofA Securities and James Financial, which are acting as Astorg and Espiris’ financial advisers. 

For Freshfields, global transactions partners Oliver Lazenby and Rhys Evans are leading the charge, with support from antitrust partner Deidre Trapp, employment partner Alice Greenwell, financial regulatory partner Mark Kalderon and pensions partner Dawn Heath.

Latham’s efforts are being spearheaded by corporate partners Thomas Forschbach, Alexander Crosthwaite and Simon Lange. Ropes & Gray’s team, meanwhile, is being led by transactions partner Helen Croke, with support from  private equity transactions partner Elizabeth Todd, data, privacy & cybersecurity partner Rohan Massey and tax partner Chris Agnoli. 

For its part, NRF is fielding a team made up of corporate partners Paul Whitelock and Nicolas Sirtoli, alongside banking partner Alex Zekkos. Further support is being provided by Luxembourg-based partner Manfred Dietrich and counsel Franck-Olivier Cera. 
 

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