Transactions UK

  • July 12, 2024

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

    This past week in London has seen the owner of the Lambretta scooter brand Innocenti SA embroiled in a trademark dispute with a property developer, a clash between two art dealers over a collection of tapestries, Telecom Italia pursue a debt claim against a competing telecommunications company, and performing arts trade union Equity hit a casting directory for charging unfair subscription fees on actors. Here, Law360 looks at these and other new claims in the U.K.

  • July 12, 2024

    Sirius Real Estate Raises £153M In Equity For Expansion Plan

    Business parks owner Sirius Real Estate has raised approximately £152.5 million ($198 million) in fresh equity from existing and new investors in a two-step operation to fund its acquisition strategy.

  • July 12, 2024

    Asset Manager Impax Completes Financial Adviser Buyout

    Impax said on Friday that it has now completed the purchase of the assets of fixed-income manager Absalon Corp. Credit, as the private equity firm which focuses on renewable energy looks to expand its business beyond the U.S.

  • July 12, 2024

    FCA Cuts Record-Keeping For Banks Advising Listed Firms

    The Financial Conduct Authority has cut record-keeping requirements for banks advising client companies that are listed on the London Stock Exchange.

  • July 12, 2024

    MoFo-Guided SoftBank Buys UK Chipmaker Graphcore

    SoftBank Group Corp. has acquired Graphcore, a British semiconductor chipmaker, as it eyes expansion into the artificial intelligence sector, the two companies said on Friday.

  • July 12, 2024

    Superdry To Remove Shares From London's Main Market

    Struggling retailer Superdry PLC said on Friday that its shares will be pulled from the London Stock Exchange's main market on Monday to allow it to focus on a restructuring plan.

  • July 11, 2024

    London Revamps Listing Rules To Hone Competitive Edge

    The move by the financial watchdog to rewrite U.K. Listing Rules better equips the London Stock Exchange to attract and retain high-growth companies, experts tell Law360. And they downplay fears the new rules could weaken consumer protection.

  • July 11, 2024

    Swedish Warehouse Biz Buys Norwegian Rival In $311M Deal

    Swedish industrial real estate company Logistea said Thursday that it has completed its acquisition of Norwegian rival KMC Properties in a deal worth approximately 3.26 billion Swedish kroner ($311 million) guided by European law firms Thommessen, Vinge, Cederquist and Wiersholm.

  • July 11, 2024

    US PE Firm To Bid €1M For French Industrial Machinery Biz

    French engineering company Gaussin SA said Thursday that a consortium led by U.S. private equity firm Coral Reef Capital has offered €1 million ($1.08 million) to buy its subsidiary Metalliance, a troubled industrial machinery manufacturer.

  • July 11, 2024

    Hotelier PPHE Kick-Starts £4M Share Buyback Scheme

    PPHE Hotel Group Ltd. said on Thursday it has begun a share repurchase program of up to £4 million ($5.2 million), amid concerns its stock is undervalued.

  • July 11, 2024

    Gowling Builds £35M Pension Deal For Civil Engineers

    A trade body for engineers has handed £35 million ($45 million) of its pensions liabilities to insurer Aviva PLC, advisers have said, in a buy-in transaction designed to cut risk that was guided by Gowling WLG.

  • July 11, 2024

    White & Case Guides Turkish Biz's $310M Port Co. Buyout

    U.K. cruise port operator Global Ports Holding PLC said on Thursday that it has agreed to be bought out by a subsidiary of its majority shareholder Global Yatirim Holding AS, a Turkish conglomerate, for $310 million.

  • July 11, 2024

    FCA Overhauls Share Listing Rules To Boost LSE

    The Financial Conduct Authority unveiled a "significant" revamp of its share listings regime on Thursday, a move to help the London Stock Exchange provide corporate financing and stay competitive with other global financial centers. 

  • July 10, 2024

    Kirkland Guides Canada Pension Plan on €550M Tech Stake

    Canada Pension Plan Investment Board said Wednesday that it has invested €550 million ($595 million) for a stake in European technology company Team Blue in a deal steered by Linklaters, Macfarlanes and Kirkland & Ellis.

  • July 10, 2024

    Diversified Energy Buys Texas Assets For $106M

    Oil and gas producer Diversified Energy said Wednesday that it has acquired natural gas assets in eastern Texas from Crescent Pass Energy in a $106 million deal to increase its footprint in the central U.S.

  • July 10, 2024

    Gibson Dunn, Polsinelli Steer $450M Purchase Of Tech Firm

    Investment company Sure Ventures PLC said Wednesday Infinite Reality, an immersive virtual experiences firm, has agreed to buy its subsidiary's portfolio firm Landvault for $450 million (£350.6 million), a deal advised by Gibson Dunn & Crutcher LLP and Polsinelli PC.

  • July 10, 2024

    Aviva Completes £249M Deal, Returns To Lloyd's

    Aviva PLC said on Wednesday that it has completed the acquisition for £249 million ($319 million) of insurance group Probitas, including its Lloyd's of London platform, which marks its return into the specialist market after more than two decades.

  • July 10, 2024

    Hellenic Bank To Buy French Insurer's Greek Biz For €182M

    Hellenic Bank of Cyprus said Wednesday that it will buy the Cypriot and Greek insurance operations of French insurer CNP Assurances for €182 million ($197 million) to strengthen its insurance services.

  • July 10, 2024

    PE Biz TowerBrook Bids £253M For Payments Platform Co.

    Private equity shop TowerBrook Capital Partners LP has made an improved cash offer of £253 million ($325 million) for Equals Group PLC, the British financial technology company said Wednesday after it put itself up for sale.

  • July 10, 2024

    Shein Investors Could Have Recourse If ESG Abuses Exposed

    Expectations that the Shein fast-fashion group will float on the London Stock Exchange have raised questions over what recourse investors have to recoup losses in the English courts if a future emergence of human rights abuses in a company's supply chain triggers a drop in its share price.

  • July 09, 2024

    Labour Gov't Plans Investment-Boosting National Wealth Fund

    The U.K. Treasury on Tuesday detailed plans to create a National Wealth Fund worth £7.3 billion ($9.3 billion) to boost private investment in energy and infrastructure, part of the new Labour government's plans to stimulate economic growth.

  • July 09, 2024

    Water Leak Remediation Biz Acquires Irish Firm For €2.3M

    Water Intelligence PLC said Tuesday it has acquired Irish business Feakle Gas and Plumbing Ltd. through its subsidiary for €2.32 million ($2.97 million) cash, a move it anticipates will boost its footprint in Europe.

  • July 09, 2024

    LetterOne Fights National Security Sale Of Broadband Firm

    An investment group backed by Russian oligarchs has launched the first legal challenge to a decision under the National Security and Investment Act, claiming on Tuesday that the government unfairly forced the sale of a regional broadband provider at a "substantial financial loss."

  • July 09, 2024

    Simpson Thacher, Carey Olsen Steer Firm Eyeing $3B Deals

    Turnaround business Rosebank Industries PLC said Tuesday it plans to buy businesses worth up to $3 billion after successfully raising funds as it looks to list in London, advised by Simpson Thacher & Bartlett LLP and Carey Olsen Jersey LLP.

  • July 09, 2024

    Dentons Steers Capita On £207M Software Biz Sale

    Outsourcer Capita PLC said Tuesday that it has agreed to sell its subsidiary Capita One Ltd., which runs its standalone software business of the same name, to real estate software maker MRI Software LLC for £207 million ($265 million).

Expert Analysis

  • 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.

  • Vodafone Decision Highlights Wide Scope Of UK's FDI Rules

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    The U.K. government’s recently imposed conditions required for its approval of Vodafone and Etisalat’s strategic relationship agreement under its National Security and Investment Act jurisdiction, illustrating the significance of the act as an important factor for transactions with a U.K. link, says Matthew Hall at McGuireWoods.

  • What Extension Of French FDI Control Means For Investors

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    The recently published French order on foreign investment control expands the regime's application to more sectors and at a lower threshold of share ownership, illustrating France's determination to maintain sovereignty over its supply chains in sensitive sectors, and adding new considerations for potential investors in these areas, say lawyers at Linklaters.

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