News

Top City firms Linklaters, Weil Gotshal & Manges and Mills & Reeve have all taken advisory roles in the leading Chinese food company Bright Foods's acquisition of a 60% stake in the famous breakfast cereal brand, Weetabix.

The £1.2 billion deal involved Linklaters advising the buyer, Bright Foods, while Weil Gotshal acted for Lion Capital, the private equity firm selling the 60% stake. As reported by Legal Week, Lion Capital will retain a 40% stake in Weetabix alongside the breakfast brand's management, which was advised by Mills & Reeve.

In other advisory news, Travers Smith and Freshfields Bruckhaus Deringer have taken key roles on the administration of the high street retailer Clinton Cards. Also reported by Legal Week, Clinton was forced into administration when it defaulted on a loan payment to its main supplier, American Greetings, creating a situation which sees 8,000 jobs in jeopardy. Travers Smith is acting on behalf of Clinton's management.