Posted on:Weil in the News
Weil, Gotshal & Manges is advising Providence Equity Partners, who, together with WPP Group plc (“WPP”), have agreed to acquire Chime Communications plc (“Chime”) by way of a scheme of arrangement in a transaction which values Chime at £374 million. The deal is subject to customary regulatory clearances and other approvals and consents.
Employing over 2000 people across 20 countries, Chime is a leading international communications and sports marketing group made up of 56 agencies, including CSM Sports and Entertainment headed by Lord Coe, who also joined the board of Chime in May 2014.
Slaughter & May are advising Chime and Allen & Overy are advising WPP.
The Weil team was headed by Marco Compagnoni, working with Ian Hamilton, Lewis Blakey and Jamie Holdoway. Anti trust advice is being provided by Neil Rigby and Oliver Walker is advising on tax related matters.
Marco Compagnoni commented: “This is an exciting transaction in a dynamic industry. There have been relatively few private equity backed take-privates in the past couple of years, and we are pleased to be helping Providence Equity Partners who have a strong track record in this sector.“