05:23, March 22 87 0

2018-03-22 05:23:05
Freshfields and Pinsents lead on Michelin’s £1.2bn Fenner deal

Freshfields Bruckhaus Deringer and Pinsent Masons have scored the key roles as Michelin buys Fenner for £1.2bn.

The magic circle firm advised Tyre manufacturer Michelin with Pinsents taking the lead for the Yorkshire-based engineering firm.

The Freshfields team was led by corporate/M&A partner Stephen Hewes in London and global transactions partner Olivier Rogivue in Paris.

Pinsents corporate partners Andrew Black and Rob Hutchings led the firm’s team. They were supported by Leeds office head and pensions partner Jacqui Timmins and head of competition, EU and trade Alan Davis.

Under the terms of the deal, Michelin has purchased the entirety of Fenner’s shares on a fully diluted basis. Fenner focuses on polymer technology with advanced engineering products and engineered conveyor solutions arms acting as the businesses primary revenue streams.

Data gathered for The Lawyer Market Intelligence (LMI) shows that Michelin has routinely turned to White & Case for corporate, financial services and tax matters. The US firm advised the French company on a $600m bonds deal earlier in the year with four major institutional banks. Partners Severin Robillard and Thomas Le Vert acted for Michelin out of White & Case’s Paris office.