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Clifford Chance advises Mandated Lead Arrangers on financing for £6.8 billion acquisition of Asda

5 October 2020

Clifford Chance advises Mandated Lead Arrangers on financing for £6.8 billion acquisition of Asda

International law firm Clifford Chance advised the mandated lead arrangers in relation to the financing for the £6.8 billion acquisition of Asda Group Limited by the Issa brothers, founders and co-CEOs of EG Group, and TDR Capital LLP, a leading UK-based private equity firm. The acquisition is expected to close either later this year or in the first six months of 2021.

Clifford Chance, working with a team from Cravath, Swaine & Moore led by George Stephanakis, represented the mandated lead arrangers on all aspects of the financing, involving groups across the London office in a truly cross-practice effort involving finance, real estate, tax, anti-trust, corporate, funds and employment.

The team was led by finance partners Jim MacHale and David Robson working with Richard Day, Carson Lau, Alex Sorgese, Chloe Smith, Andrew Kourpanidis, Katy Parkes, Arpan Bhatt, Lewis Whyte, Luke Forryan, Tom Isola and Barnaby Stewart (Finance), Franc Pena, Alice Raine and Ben Cooper (Real Estate), Dan Neidle and Ted Meddick-Dyson (Tax), Alistair Woodland and Zoe Browne (Employment), Jennifer Storey (Antitrust), Daniel Mutisya (Corporate) and Alex Chester and Georgia Eldridge (Funds).