International law firm Freshfields Bruckhaus Deringer has advised LME Holdings Limited, the parent company of The London Metal Exchange Limited (the “LME”), on the £1,388bn recommended cash offer for its entire issued and outstanding ordinary share capital by a wholly- owned subsidiary of Hong Kong Exchanges & Clearing Ltd (“HKEx”) (the “Transaction”). The Transaction brings together the LME, the world’s leading non-ferrous base metals exchange trading venue with the leading operator of exchanges and clearing houses in Asia.
The Freshfields team, assisting Tom Hine, General Counsel and Head of Enforcement at the LME, was led by Sundeep Kapila, global head of the firm’s market infrastructure practice, assisted by senior associate George Swan and Oliver Crowley. Michael Raffan, Partner, and Cyrus Pocha also advised. Simon Roberts, Partner and Alice Greenwell, Employment, Pensions and Benefits practice group also assisted, alongside Colin Hargreaves, Partner, and Peter Clements from the firm’s tax group and Ian Frost, Partner, and Lisa Seifman from the firm’s finance group.
Sundeep Kapila commented, “We are proud to have been able to act on this landmark cross-border deal in the financial services sector for LME, one of the world’s oldest and most iconic exchanges, with HKEx. The transaction exemplifies the increasingly global footprint of our financial services clients and the significance of international market infrastructure to the global economy.”
On behalf of LME, Tom Hine added, “This is a step-change deal for LME and one that will help maintain our position as one of the world’s foremost exchanges. The Freshfields team has been second to none in the quality of their advice and expertise and also in their commitment to seeing this deal through and I would like to thank them for their exemplary work.”
