London – Allen & Overy LLP is advising Charterhouse Capital Partne…

London – Allen & Overy LLP is advising Charterhouse Capital Partners LLP on the buyout of TSL Education Holdings Limited (The Times Educational Supplement business) for an undisclosed sum. The business is being sold by Exponent Private Equity and management, who will retain a stake in the business. The deal will close on 8 June 2007.

Charterhouse has underwritten the entire purchase price with part of this commitment representing bridge debt finance, which Charterhouse expects to refinance with traditional buyout debt upon completion.

The Allen & Overy team is being led by private equity partners Derek Baird and Chris Thornes, assisted by Victoria Bradin and Yohannah Walford. Tax partner Christopher Harrison, assisted by Kate Skinner, advised on tax matters. Leveraged finance partners, David Lines and Jonathan Brownson, and associate Ian Roebuck are advising on the debt financing.

Commenting Derek Baird said: “Charterhouse is a key client of our private equity practice and we regularly advise them on deals in the UK and around Continental Europe, most recently on the buyout of ista in Germany earlier this year. We’re delighted to assist them on their most recent deal in the UK. ”

In the first quarter this year, IFR Buyouts ranked Allen & Overy as number 1 for European buyouts with 11 deals valued at USD45.8 billion. Our high level of activity has continued into the second quarter with the GBP1.2 billion Airwave buyout acting for Macquarie and the EUR1.5 billion acquisition by AIG Global Investment Group of Viva’s 65% stake in the Bulgarian Telecommunications Company AD.

For further information please contact Karen Levin ([email protected]) on +44 (0)20 3088 4341.

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