Ringing off: City firm Herbert Smith advised accountants Ernst & Young as administrators to the Europe, Middle East and Africa entities of telecoms manufacturer Nortel Networks, on selling off Nortel businesses worth $2bn (£1.26bn).
Loan arranger: Magic circle firm Clifford Chance and Saudi firm Al-Jadaan & Partners advised Saudi Basic Industries Corporation, the diversified manufacturing company, on issuing loan notes worth SAR10bn (£1.67bn) to the Public Investment Fund of Saudi Arabia, advised by US firm White & Case and Saudi firm Law Office of Mohammed Al-Sheikh.
Doing the sums: US firm Mayer Brown advised financial services company GMAC Commercial Finance on selling its invoice financing loan book to independent merchant bank Close Brothers Group, advised by national firm Hammonds, for £98m.
Honing skills: City firm Taylor Wessing advised education and skills provider JHP Group on a management buyout backed by Lloyds Development Group, part of Lloyds Bank, which invested £30m for a majority stake. Yorkshire Bank provided £26m in financing. Hammonds advised Lloyds.
Pension plan: US firm Weil Gotshal & Manges advised private equity firm Advent International on acquiring pension administrator Xafinity from private equity firm Duke Street Capital, advised by City firm SJ Berwin, for an undisclosed sum.
Blue-chip sale: City firm Travers Smith advised food company SSP Group on selling Harry Ramsden’s fish and chip shop restaurant chain to private investment company Boparan Ventures, advised by Birmingham firm Wragge & Co.
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