Apax Partners LLP and Guardian Media Group plc’s block trade sale of of 66,000,000 ordinary shares in Ascential plc

Simpson Thacher represented Apax Partners LLP and Guardian Media Group plc on the block trade sale by Guardian Media Group plc and certain entities indirectly wholly owned by Apax Europe VII of an aggregate of 66,000,000 ordinary shares in Ascential plc

The sale, which was effected by way of an accelerated book build, raised gross sale proceeds of £171.6 million in aggregate. Settlement took place on December 5, 2016.

Goldman Sachs International and Merrill Lynch International acted as joint global coordinators and joint bookrunners, with Deutsche Bank AG, London Branch, and Numis Securities Limited also acting as joint bookrunners. Earlier this year, Simpson Thacher advised Ascential and Apax Partners LLP in connection with Ascential’s initial public offering and its admission to the London Stock Exchange.

The London-based Simpson Thacher team included Derek Baird (Picure) and Rebecca Jack (U.K. Corporate); and Nicholas Shaw and Noam Katz (U.S. Corporate). Elvinger Hoss Prussen provided Luxembourg legal advice to the Apax funds.

Involved fees earner: Derek Baird – Simpson Thacher & Bartlett; Rebecca Jack – Simpson Thacher & Bartlett; Nicholas Shaw – Simpson Thacher & Bartlett; Noam Baruch Katz – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Apax Partners; Guardian Media Group;

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