06:15, February 10 583 0

2017-02-10 06:15:14
Clyde & Co and Slaughters advise on £100m Tata Steel sale

Clyde & Co and Slaughter and May have advised Tata Steel on the sale of its South Yorkshire steelworks business for £100m to Liberty House in a deal that could save 1,700 jobs.

Clydes advised Liberty House Group on the purchase, led by partner Simon Vere Nicoll and assisted by legal director Richard Elks and associate James Richards.

The privately owned group, led by Indian-born entrepreneur Sanjeev Gupta, said the deal would secure “thousands more jobs” in the supply chain and regional economy.

The Slaughter & May team advising Tata Steel was led by corporate partner Gary Eaborn, with support from associate Claire Jackson.

In other recent M&A news, Slaughters bagged a role alongside four US and Swiss firms on Johnson & Johnson’s $30bn acquisition of Actelion last month.

Meanwhile in the UK real estate world, Clyde & Co was among several firms to win a spot on property regeneration business U+I’s first legal panel following its merger with Development Securities PlC and Cathedral Group.