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Travers Smith LLP has acted for Numis Securities Limited, as nominated adviser and bookrunner, and Investec Bank plc, as bookrunner, in connection with the £34 million placing of new shares by Alliance Pharma plc ("Alliance") in connection with its acquisition from Janssen Pharmaceutica NV (a member of the Johnson & Johnson group of companies) of the exclusive marketing rights to Nizoral, a medical, anti-dandruff shampoo brand, in Asia-Pacific for total consideration of £60 million.

Travers Smith LLP has advised existing client Auto Trader Group plc, the digital automotive classified advertising business, on its £400 million refinancing with debt finance provided by a syndicate of lenders.

Travers Smith LLP has advised long-standing client Bridgepoint Development Capital (BDC) on its acquisition of a majority stake in PEI Media – the global provider of insight, market-data and business conferences for professionals active in alternative asset class investment. The business is being acquired from its founders, management and minority shareholder, LDC.

Travers Smith LLP has advised Benchmark Holdings plc, the international biotechnology and food chain sustainability business, on its £19m fundraising and acquisition of a 49% interest in a Chilean salmon breeding and genetics joint venture with Empresas AquaChile S.A.

Travers Smith LLP has acted for Numis Securities Limited and Goodbody Stockbrokers as joint brokers and underwriters and Numis as nominated adviser in connection with the proposed £115 million placing and subscription (the "Fundraising") by Draper Esprit plc ("Draper Esprit").

In this In Practice article the authors consider the practical issues faced by practitioners and deal counterparties in structuring and executing leveraged buyout transactions where the target company is regulated by the Financial Conduct Authority and/or Prudential Regulation Authority.

Travers Smith LLP has advised longstanding client Kester Capital LLP ("Kester") on the acquisition of Jollyes Retail Group Limited ("Jollyes") by a newco backed by Kester.

From conflicts of interest to subscriptions lines, lawyers flag up the five issues most likely to trigger court action to Victoria Robson.

Travers Smith LLP Corporate Partner Richard Spedding and Head of Finance Matthew Ayre have advised Robey Warshaw in its capacity as financial adviser to Comcast on its cash offer for Sky plc, formally announced on 25 April 2018.

Travers Smith LLP has advised HSBC Bank plc on Epiris' acquisition from De La Rue plc its paper business, including the paper mills at Overton and Bathford.

Travers Smith LLP has advised Peel Hunt LLP and WG Partnership LLP, as joint bookrunners in connection with the £20.5 million placing of new shares by Oxford BioMedica plc.

Travers Smith LLP has advised Zeus Capital Limited, as financial adviser, broker, joint global co-ordinator and bookrunner, Numis Securities Limited, as joint global co-ordinator and bookrunner and Stockdale Securities Limited, as sponsor, to JTC plc (JTC), on its £310 million main market IPO. The IPO involved the conditional placing of £243.8 million of existing and new ordinary shares.

In the wake of the 2007 credit crunch, corporate debt was often trading in secondary markets significantly below par, largely reflecting lender liquidity concerns. This prompted certain borrowers to acquire their own debt, either as an investment opportunity or simply as a cheap way to de-lever and obtain financial covenant headroom.

This article considers how certain alternative investment funds (currently those managed by a manager authorised under the Alternative Investment Fund Managers Directive and potentially, in future, all EU alternative investment funds) may need to update their legal documentation in order to margin (exchange collateral on) their derivatives transactions. It also touches upon whether alternative structures are available to allow funds to execute their risk management strategies without the need to margin.

Travers Smith LLP has advised long-standing client TA Associates on the acquisition of the Single Strategy asset management business (the "Single Strategy Business") by a NewCo funded TA Associates from Old Mutual Wealth.

Travers Smith LLP has advised long-standing client The Peel Group, the largest shareholder in Intu Properties plc (Intu), in connection with Hammerson plc's £3.4billion recommended offer for Intu.

Travers Smith LLP has advised The Access Group, one of the UK's leading providers of software to mid-market customers, on its acquisition of ProNett.

Travers Smith LLP has advised longstanding client ETF Securities Limited on both the $611 million sale of its European exchange-traded commodity, currency and short-and-leveraged business to WisdomTree Investments, Inc., and the sale of its Canvas, UCITS ETF platform, to Legal & General Investment Management (LGIM).

Travers Smith LLP has acted for Numis Securities Limited in its capacity as sole sponsor, financial adviser and bookrunner on the £31.4 million firm placing and placing & open offer of new ordinary shares issued by Norcros plc.