LONDON – LAWFUEL – Law News Network – Allen & Overy has advised the consortium led by Baugur on the £351.4 million acquisition of House of Fraser plc. The consortium consisted of Baugur, FL Group, West Coast Capital, Bank of Scotland and certain other individuals. The 148p per share offer was announced on 24 August 2006.
The Allen & Overy team was led by Corporate partners Chris Thornes and Alan Paul, assisted by Rory Mullarkey, Henry Harris, Michael Mustard and Luke Whibley. Banking partner Andrew Bamber also advised on the transaction, assisted by Jon Richards and Charlotte Leather.
Commenting Chris Thornes said: “We are particularly pleased to have acted for Baugur on this landmark acquisition, one of their biggest transactions in the UK to date. This was a great deal to be involved in and builds on our existing relationship with Baugur, having advised them on a number of their recent acquisitions including that of the Iceland supermarket chain. We look forward to working with Baugur in the future.”
Slaughter and May provided legal advice for House of Fraser plc with DLA Piper Rudnick Gray Cary providing legal advice to the lending banks, Bank of Scotland and Glitnir Banki HF. Financial advisers were NM Rothschild & Sons Limited and Glitnir Banki HF to the consortium and Dresdner Kleinwort Wasserstein Limited to House of Fraser plc.