Recent Transactions

22-Jul-97
$1.7 billion
Mexico flag
Target: 

Cigarrera La Moderna

United Kingdom flag
Acquiror: 
B.A.T. Industries Plc

, subsidiary of Empresas La Moderna Advised Empresas La Moderna on the sale of its subsidiary Cigarrera La Moderna, Mexico’s largest cigarette producer, for a combination of cash and redeemable notes

16-Jul-98
$1.5 billion
United States flag
Target: 

iMCI

United Kingdom flag
Acquiror: 
Cable and Wireless plc

, MCI’s Internet Business
Advised C&W on the financing of its iMCI acquisition via the largest equity primary placement to date in the London market

12-Mar-99
$3.1 billion
United Kingdom flag
Target: 

M&G Group plc

United Kingdom flag
Acquiror: 
Prudential Corp. plc

Advised M&G Group on the sale of the company for cash to Prudential, the United Kingdom’s largest life insurer and fund manager.

01-Jun-99
$601 million
United States flag
Target: 

Aquarion Company

United Kingdom flag
Acquiror: 
Kelda Group plc

Advised Kelda Group (formerly Yorkshire Water) on the all-cash purchase of Aquarion Company, a US water utility group.

26-Jul-99
$23.3 billion
United Kingdom flag
Target: 

Cable & Wireless Communications plc

United Kingdom flag
Acquiror: 
Cable and Wireless plc

, 53% subsidiary of Cable and Wireless plc Advised C&W on the reorganisation of Cable & Wireless Communications, including the sale of CWC’s consumer businesses to NTL and the acquisition of the public minority interest in CWC’s business telephony, data and IP operations

30-Jul-99
$2.5 billion
United Kingdom flag
Target: 

Mirror Group PLC

United Kingdom flag
Acquiror: 
Trinity plc

Advised Trinity on its merger with Mirror Group to form Trinity Mirror, the UK’s largest newspaper publisher

06-Aug-99
$12.8 billion
United Kingdom flag
Target: 

One2One

Germany flag
Acquiror: 
Deutsche Telekom AG

(joint venture between Cable and Wireless plc and Media One)
Strategic advice to C&W in connection with the sale of One2One, a UK mobile phone operator, 50% owned by C&W and 50% owned by Media One

11-Nov-99
$732 million
Sweden flag
Target: 

Indigo Aviation AB

Ireland flag
Acquiror: 
AerFi Group plc

Advised AerFi Group on its acquisition of Indigo Aviation. The transaction involved a negotiated purchase of 72% of Indigo for shares of AerFi followed by a cash tender offer for the remaining 28% of the outstanding Indigo shares.

28-Feb-00
$38.1 billion
U.K., Hong Kong flags
Target: 

Hong Kong Telecom

Hong Kong flag
Acquiror: 
Pacific Century Cyberworks

, 54% subsidiary of Cable and Wireless plc
Advised C&W on the sale of Hong Kong Telecom (54% owned subsidiary of C&W) to PCCW in non-Japan Asia’s largest ever transaction.

31-Mar-00
$498 million
United Kingdom flag
Target: 

Dorling Kindersley plc

United Kingdom flag
Acquiror: 
Pearson plc

Advised Dorling Kindersley, a leading and innovative book publisher, on the sale of the company to Pearson in an all cash transaction.

17-Jul-00
$10.5 billion
U.S.A., U.K. flags
Target: 

Diageo plc

United States flag
Acquiror: 
General Mills, Inc.

Advised Diageo on the sale of The Pillsbury Company for $5.1 billion in assumed debt and $5.4 billion in stock to General Mills.

22-Sep-00
$750 million
Ireland flag
Target: 

AerFi Group plc

Germany flag
Acquiror: 
debis AirFinance (subsidiary of Daimler Chrysler AG)

Advised AerFi on its sale to debis AirFinance .

19-Dec-00
$8.2 billion
Canada flag
Target: 

Seagram

U.K., France flags
Acquiror: 
Diageo plc and Pernod Ricard

(Spirits Division)
Advised Diageo on its joint agreed bid with Pernod Ricard for Seagram’s spirits business.

05-Feb-01
$316 million
United States flag
Target: 

General Mills, Inc.

U.S.A., U.K. flags
Acquiror: 
International Multifoods Corporation

(Pillsbury Desserts & Baking Mixes Portfolio)
Advised Diageo on divestiture of Pillsbury’s Desserts & Baking Mix business to gain FTC approval for the sale of Pillsbury to General Mills.

15-Feb-01
$850 million
United States flag
Target: 

Loews Cineplex Entertainment

U.S.A., Canada flags
Acquiror: 
Onex Corp. and Oaktree Capital Management

Advised Onex on its joint acquisition of Loews Cineplex. The acquisition will occur as Loews Cineplex emerges from its Chapter 11 bankruptcy reorganization.

25-Mar-01
$9.7 billion
U.K., Australia flags
Target: 

Cable & Wireless Optus Limited

Singapore flag
Acquiror: 
Singapore Telecommunications Limited

, 52.5% subsidiary of Cable and Wireless plc Advised C&W on the sale of its 52.5% owned Australian subsidiary, Cable & Wireless Optus, to SingTel

19-Apr-01
$10.0 billion
United Kingdom flag
Target: 

GKN plc

Australia flag
Acquiror: 
Brambles Industries Ltd

(Industrial Services)
Advised Brambles on its merger with the industrial services division of GKN under a dual listed companies structure

16-Jul-01
$982 million
United States flag
Target: 

Sterling Chemicals

Advised Sterling Chemicals in connection with its Chapter 11 proceedings

30-Jul-01
$117 million
United Kingdom flag
Target: 

Kymata Ltd.

France flag
Acquiror: 
Alcatel Optronics

Advised Kymata Ltd, the Scottish manufacturer of optical components, on its sale to Alcatel Optronics of France.

18-Jan-02
$520 million
United Kingdom flag
Target: 

Thus plc

Advised THUS plc on its underwritten £275 million open offer, £90 million bank loan and demerger from its parent, ScottishPower

16-May-02
$545 million
United Kingdom flag
Target: 

Go Fly Ltd

United Kingdom flag
Acquiror: 
easyJet plc

(majority owned by 3i plc)
Advised Go Fly, Europe’s No. 3 no-frills airline, on its sale to easyJet. The acquisition created Europe’s largest low cost airline.

29-Aug-02
$6.2 billion
United Kingdom flag
Target: 

Marconi plc

Advised the official committee of bondholders of Marconi, a leading telecom equipment provider, on the financial restructuring of Marconi's £4 billion of externally held financial indebtedness

15-Oct-02
$3.2 billion
Canada flag
Target: 

AT&T Canada

Advised AT&T Canada on a stand-alone financial restructuring

30-Oct-02
$588 million
United Kingdom flag
Target: 

T&S Stores Plc

United Kingdom flag
Acquiror: 
Tesco PLC

Advised Tesco PLC, Britain’s largest retailing group, on its acquisition of T&S Stores plc, a publicly listed convenience store retailer operating in the UK.

14-Nov-02
$375 million
U.S.A., Canada flags
Target: 

Sterling Chemicals

United States flag
Acquiror: 
Superior Propane Income Fund

(Pulp Chemicals Business)
Advised Sterling Chemicals on the disposal of its Pulp Chemicals Business. The business is one of the largest providers of chemicals for the processing and bleaching of pulp and paper products.

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