Big Deals

The largest recent European deals—and the law firms that worked on them.

, Focus Europe

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The largest recent mergers and acquisitions, all worth at least $500 million, involving targets or acquirors from each of six European jurisdictions or regions: United Kingdom, Spain, Italy, Germany, the Nordic countries, and France. All deals were announced between October 10, 2012, and April 1, 2013. Deals that were pending at press time are starred(*). Research by Mergermarket and Rebecca Geiger.

UNITED KINGDOM

Target: Verizon Wireless (45% Stake)*
Seller: Vodafone Group Plc
Counsel: De Brauw Blackstone Westbroek; Simpson Thacher & Bartlett; Slaughter and May
Bidder: Verizon Communications Inc.
Counsel: Debevoise & Plimpton; Hogan Lovells; Jones Day; Macfarlanes; Wachtell, Lipton, Rosen & Katz
Counsel for joint lead arrangers and joint bookrunners, including J.P. Morgan Securities LLC, Morgan Stanley Senior Funding Inc. and Barclays Bank PLC: Davis Polk & Wardwell
Counsel for financial adviser Paul J. Taubman: Weil, Gotshal & Manges
Value: $130 billion

Target: Kabel Deutschland Holding AG (76.57% stake)
Counsel: Hengeler Mueller
Bidder: Vodafone Group Plc
Counsel: Linklaters
Value: $10 billion

Target: Eurasian Natural Resources Corporation PLC (46% stake)*
Counsel: Jones Day
Counsel for independent committee of ENRC board of directors: Freshfields Bruckhaus Deringer
Counsel for financial advisers Credit Suisse AG and Lazard: Herbert Smith Freehills
Seller: Kazakhmys Plc
Counsel: Linklaters
Bidder: Eurasian Resources Group BV
Counsel: Clifford Chance; Loyens & Loeff
Counsel for Kazakh government: Reed Smith
Counsel for banks Sberbank CIB, Société Générale and VTB Capital: Allen & Overy
Counsel for Kazakhmys sponsors Citibank Inc. and J.P. Morgan Cazenove: Ashurst
Value: $4.8 billion
Target: Invensys Plc*
Counsel: Freshfields Bruckhaus Deringer
Bidder: Schneider Electric SA
Counsel: Bredin Prat; Linklaters; Shearman & Sterling
Value: $4.6 billion

Target: Springer Science + Business Media Deutschland GmbH
Counsel: Clifford Chance; Cravath, Swaine & Moore
Sellers: EQT Partners AB and GIC Special Investments Pte Ltd
Counsel: Hengeler Mueller; P+P Pöllath + Partners; Simmons & Simmons
Bidder: BC Partners Limited
Counsel: Davis Polk & Wardwell; Freshfields Bruckhaus Deringer
Counsel for banks: Sullivan & Cromwell
Value: $4.4 billion

FRANCE

Target: Omnicom Group Inc.*
Counsel: De Brauw Blackstone Westbroek; Latham & Watkins
Counsel for financial adviser Moelis & Company: Jones Day
Bidder: Publicis Groupe SA
Counsel: Darrois Villey Maillot Brochier; NautaDutilh; Wachtell, Lipton, Rosen & Katz
Value: $22.7 billion

Target: BPCE (20% stake)
Seller: Natixis SA
Counsel: Bredin Prat
Bidder: Groupe BPCE
Counsel: Bredin Prat
Value: $16.1 billion

Target: Activision Blizzard Inc (49% stake)
Counsel: Skadden, Arps, Slate, Meagher & Flom
Counsel for special committee of independent directors: Wachtell, Lipton, Rosen & Katz
Counsel for financial adviser Centerview Partners: Kirkland & Ellis
Seller: Vivendi SA
Counsel: Gibson, Dunn & Crutcher; Richards, Layton & Finger
Bidders: Activision Blizzard Inc. and management-led investment vehicle ASAC II LP
Counsel: Sullivan & Cromwell
Counsel for ASAC II LP investor Leonard Green & Partners L.P.: Latham & Watkins
Counsel for ASAC II LP investor Tencent Holdings Ltd.: Covington & Burling
Value: $8.2 billion

Target: Maroc Telecom (53% stake)*
Seller: Vivendi SA
Counsel: Gibson, Dunn & Crutcher; Kettani Law Firm
Bidder: Emirates Telecommunications Corporation
Counsel: Freshfields Bruckhaus Deringer; Bennai & Associés
Value: $5.7 billion

Target: Invensys Plc*
Counsel: Freshfields Bruckhaus Deringer
Bidder: Schneider Electric SA
Counsel: Bredin Prat; Linklaters; Shearman & Sterling
Value: $4.6 billion


GERMANY

Target: E-Plus Mobilfunk GmbH & Co KG*
Seller: Koninklijke KPN NV
Counsel: Allen & Overy; Bird & Bird
Bidder: Telefonica Deutschland Holding AG
Counsel: CMS Hasche Sigle; De Brauw Blackstone Westbroek; McDermott Will & Emery; Milbank, Tweed, Hadley & McCloy
Counsel for financial adviser Citigroup Inc.: Shearman & Sterling
Value: $11.0 billion

Target: Kabel Deutschland Holding AG (76.57% stake)
Counsel: Hengeler Mueller
Bidder: Vodafone Group Plc
Counsel: Linklaters
Value: $10 billion

Target: GSW Immobilien AG*
Counsel: Hengeler Mueller
Bidder: Deutsche Wohnen AG
Counsel: Sullivan & Cromwell
Value: $5.2 billion

Target: Springer Science + Business Media Deutschland GmbH
Counsel: Clifford Chance; Cravath, Swaine & Moore
Sellers: EQT Partners AB and GIC Special Investments Pte Ltd
Counsel: Hengeler Mueller; P+P Pöllath + Partners; Simmons & Simmons
Bidder: BC Partners Limited
Counsel: Davis Polk & Wardwell; Freshfields Bruckhaus Deringer
Counsel for banks: Sullivan & Cromwell
Value: $4.4 billion

Target: Rhön Klinikum (43 hospitals)*
Seller: Rhön-Klinikum Aktiengesellschaft
Counsel: Latham & Watkins
Bidder: HELIOS Kliniken GmbH
Counsel: Freshfields Bruckhaus Deringer; Hengeler Mueller; Linklaters; Noerr
Value: $4.1 billion

NORDIC COUNTRIES

Target: Nokia Oyj (devices and services business)*
Seller: Nokia Oyj
Counsel: Roschier; Skadden, Arps, Slate, Meagher & Flom
Bidder: Microsoft Corporation
Counsel: Covington & Burling; Hannes Snellman; Kim & Chang; Simpson Thacher & Bartlett
Value: $7.2 billion

Target: Springer Science + Business Media Deutschland GmbH
Counsel: Clifford Chance; Cravath, Swaine & Moore
Sellers: EQT Partners AB and GIC Special Investments Pte Ltd
Counsel: Hengeler Mueller; P+P Pöllath + Partners; Simmons & Simmons
Bidder: BC Partners Limited
Counsel: Davis Polk & Wardwell; Freshfields Bruckhaus Deringer
Counsel for banks: Sullivan & Cromwell
Value: $4.4 billion

Target: Statoil ASA (U.K. and Norwegian continental shelf assets)*
Seller: Statoil ASA
Counsel: CMS Cameron McKenna
Bidder: OMV Aktiengesellchaft
Counsel: Norton Rose; Thommessen
Value: $2.7 billion

Target: Nokia Siemens Networks (50% stake)
Seller: Siemens AG
Counsel: Clifford Chance; Hannes Snellman; Houthoff Buruma; Slaughter and May
Bidder: Nokia Corporation
Counsel: De Brauw Blackstone Westbroek; Roschier; Shearman & Sterling
Counsel for financial adviser and transaction financier JPMorgan Chase & Co.: Stibbe
Counsel for lenders, including Bank of America Corporation and JPMorgan Chase & Co.: Waselius & Wist
Value: $2.2 billion

Target: Edwards Group Limited*
Counsel: Davis Polk & Wardwell; Maples & Calder; Weil, Gotshal & Manges
Counsel for financial adviser Lazard: Cleary Gottlieb Steen & Hamilton
Sellers: CCMP Capital Advisors LLC and Unitas Capital Pte Ltd
Bidder: Atlas Copco AB
Counsel: Pillsbury Winthrop Shaw Pittman
Counsel for financial adviser Deutsche Bank AG: Fried, Frank, Harris, Shriver & Jacobson
Value: $1.6 billion

ITALY

Target: Vodafone Omnitel N.V. (23% stake)*
Seller: Verizon Communications Inc.
Counsel: Debevoise & Plimpton; Hogan Lovells; Jones Day; Macfarlanes; Wachtell, Lipton, Rosen & Katz
Counsel for joint lead arrangers and joint bookrunners, including J.P. Morgan Securities LLC, Morgan Stanley Senior Funding Inc. and Barclays Bank PLC: Davis Polk & Wardwell
Counsel for financial adviser Paul J. Taubman: Weil, Gotshal & Manges
Bidder: Vodafone Group Plc
Counsel: Baker & McKenzie; De Brauw Blackstone Westbroek; Simpson Thacher & Bartlett; Slaughter and May; Labruna Mazziotti Segni
Value: $3.5 billion

Target: Total Infrastructures Gaz France SA
Counsel: De Pardieu Brocas Maffei
Seller: Total SA
Counsel: Freshfields Bruckhaus Deringer
Bidders: Electricité de France SA, Snam SpA and Government of Singapore Investment Corporation Pte Ltd
Counsel: Baker & McKenzie; Clifford Chance; Jones Day; Paul Hastings; Sullivan & Cromwell
Value: $3.1 billion

Target: Loro Piana S.p.a. (80% stake)*
Seller: Loro Piana Family
Counsel: Chiomenti Studio Legale
Bidder: LVMH Moet Hennessy Louis Vuitton SA
Counsel: Bonelli Erede Pappalardo
Value: 2.6 billion

Target: SGS SA (15% stake)
Seller: Exor SpA
Counsel: Homburger
Bidder: Groupe Bruxelles Lambert SA
Counsel: Baker & McKenzie
Value: $2.5 billion

Target: World Duty Free SpA
Seller: Autogrill SpA
Counsel: Bonelli Erede Pappalardo; Covington & Burling; Studio Tributario Associato Facchini Rossi Scarioni; Uría Menéndez
Counsel for financial adviser Banca IMI/Intesa Sanpaolo: White & Case
Bidder: Autogrill SpA (Shareholders)
Value: $2.4 billion

SPAIN

Target: Befesa Medio Ambiente SA
Seller: Abengoa SA
Counsel: DLA Piper
Bidder: Triton Partners
Counsel: Freshfields Bruckhaus Deringer
Value: $1.4 billion

Target: Telefonica Ireland Limited*
Seller: Telefonica SA
Counsel: A&L Goodbody
Bidders: Hutchison Whampoa and Hutchison 3G Ireland Limited
Counsel for Hutchison Whampoa: Freshfields Bruckhaus Deringer Counsel for Hutchison 3G Ireland Limited: Matheson
Value: $1.1 billion

Target: Avanza Group
Seller: Doughty Hanson & Co
Counsel: Freshfields Bruckhaus Deringer
Bidder: Grupo ADO SA de CV
Counsel: Baker & McKenzie; Deloitte Legal
Value: $1.1 billion

Target: Telco SpA (22% stake)*
Sellers: shareholders Assicurazioni Generali SpA (G), Intesa Sanpaolo SpA (ISP) and Mediobanca SpA (MB)
Counsel: Chiomenti Studio Legale
Bidder: Telefónica SA
Counsel: Clifford Chance
Value: $1.2 billion

Target: City National Bank of Florida Inc.*
Counsel: Jones Day
Seller: Bankia SA
Counsel: KPMG Abogados; Sullivan & Cromwell
Bidder: Banco de Crédito e Inversiones SA
Counsel: Avila Rodriguez Hernandez Mena & Ferri; Carey y Cía
Value: $883 million

Data: Mergermarket and Focus Europe research

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