Freshfields Bruckhaus Deringer and Latham & Watkins are advising on a £1.6 billion takeover of listed financial news and information business Euromoney.
According to a Euromoney statement on the takeover on Monday, Luxembourg-based private equity manager Astorg Asset Management Sarl and U.K. private equity firm Epiris have made the offer for the FTSE 250 institution.
The £1.6 billion deal will split Euromoney into two businesses, with Fastmarkets becoming a stand-alone unit owned by Astorg, the statement added, while the remaining Euromoney businesses will be majority controlled by Epiris.
Advising Euromoney, global transactions partners Oliver Lazenby and Rhys Evans are leading the Freshfields team, while partners Deirdre Trapp, Alice Greenwell, Mark Kalderon and Dawn Heath led on antitrust, employment, financial regulatory and pension matters respectively.
Meanwhile, Latham & Watkins is advising the private equity consortium, led by London corporate partners Paul Dolman and Richard Butterwick, a firm statement said.
The deal is expected to complete in Q4 2022, the statement added.
Euromoney currently has customers in more than 160 countries and over 2,500 employees located in North America, South America, Europe and Asia, according to its website.
This is the second major deal for Freshfields in recent weeks, with a German team advising as telecoms major Deutsche Telekom embarks on a €10.7 billion mobile communications infrastructure deal.
In the statement, Epiris partners Ian Wood and Chris Hannah said: “Euromoney has a superb portfolio of market leading information and events businesses. We will empower the individual teams of these business and back them with further investment to accelerate growth, both organic and through M&A.”