HOME International News

Deals and Operations





  Search with Google inside Lawyerpress.com



published SEPTEMBER 10, 2010, 10:45
Freshfields advises a syndicate led by Barclays on the sale and refinancing of Breedon Holdings

International law firm Freshfields Bruckhaus Deringer has advised a syndicate led by Barclays Corporate on the sale of Breedon Holdings Limited (formerly Ennstone plc), a large independent UK aggregates producer, to a subsidiary of AIM-listed Marwyn Materials Limited.
The transaction, which also includes a placing of £50m by Marwyn Materials and a refinancing of Breedon’s existing debt, attributes an enterprise value of over £160m to Breedon. It provides the bank syndicate with a successful exit from an investment which originally arose as a result of the restructuring of Ennstone plc in 2009, together with an ongoing interest in Marwyn Materials through the issue of warrants over 10% of its share capital.
Freshfields corporate partner Tim Wilmot commented: 'We are delighted to have helped Barclays and the syndicate with their successful exit from the Breedon business, and to see the business in the hands of Marwyn’s experienced management team. We wish the whole team every success in the future. We are expecting to see more transactions like this as liquidity in the markets encourages purchasers to seek opportunities from the rationalisation of banks’ portfolios.’
Barclays corporate banking director David Jeyes commented: ‘This transaction provides an excellent solution for Barclays and two of our valued clients, and we are very pleased to be able to provide ongoing finance to this enlarged group. Freshfields were an invaluable partner throughout this transaction. We were impressed by the delivery of a range of disciplines in a focused way that enabled a demanding timetable to be achieved.’
The Freshfields team advising on the deal was led by corporate partner Tim Wilmot and finance partner Chris Howard. They were assisted by finance partner Martin Hutchings, tax partner Jill Gatehouse, and associates Charlotte Lamb and Helen Gill (finance), Charles Marsh, Bronwyn Thomas, Ros Ni Dhubhain and Antonio Laino (corporate), Jenny Doak (tax) and Susan Doris (employment). Partner Deirdre Trapp and associate Joshua Sherer provided anti-trust advice.
The Barclays Corporate team was led by David Jeyes, supported by Kirsten Lazarus and Giles Barling.





  Nosotros  /  Contacto  / Newsletter  / Noticias  / Tarifas  / 
Servicios Auxiliares  / Tablón de Anuncios  / El Foro del Marketing  / 
Publicaciones jurídicas / Colegios Oficiales / Boletines Oficiales / Facultades / Otros sitios de Interés / Enlaces Internacionales

copyright, 2010 - Strong Element, S.L.  -  Peña Sacra 18  -  E-28260 Galapagar - Madrid  -  Spain -  Tel.: + 34 91 858 75 55  -  Fax: + 34 91 858 56 97   -   info@lawyerpress.com  -  www.lawyerpress.com - Aviso legal