Greencore Group plc’ proposed return of capital of up to £509 million to shareholders by way of a tender offer

Slaughter and May is advising Greencore Group plc, a leading convenience food business incorporated in Ireland and premium-listed on the London Stock Exchange, on its proposed return of capital of up to £509 million to shareholders by way of a tender offer.

Ashurst is advising Greenhill as sponsor and joint financial adviser and Goldman Sachs as joint financial adviser in relation to the proposed return of capital of up to £509 million to shareholders of Greencore Group plc by way of a tender offer.

The proposed return of capital is conditional upon shareholder approval at the annual general meeting of Greencore to be held on 29 January 2019. A circular setting out details of the tender offer is expected to be published by Greencore on 20 December 2018.

Greencore is a leading manufacturer of convenience food in the UK with strong market positions in the UK. It is listed on the London Stock Exchange and is a constituent of the FTSE 250.

The Ashurst team is being led by corporate partner Nick Williamson (picture), assisted by associates Harry Thimont, Louise Chan and Kiara De Silva. Partner Eric Stuart, assisted by associate Rob Thurlow, is providing US securities law advice. Counsel Caroline Chambers also advised on the transaction.

Greencore is being advised by Arthur Cox, Slaughter and May, and Sullivan & Cromwell. A&L Goodbody is advising Goldman Sachs on matters of Irish law.

Slaughter and May advised Greencore Group plc on the deal with a corporate team led by Richard Smith (partner), assisted by Katie Whiteman (associate); on Tax law acted Sara Luder (partner), Jamshed Bilimoria (associate); and on Pensions matters provided assistance Dan Schaffer (partner).

Involved fees earner: Richard Smith – Slaughter and May; Katie Whiteman – Slaughter and May; Jamshed Bilimoria – Slaughter and May; Sara Luder – Slaughter and May; Daniel Schaffer – Slaughter and May; Nick Williamson – Ashurst; Eric Stuart – Ashurst; Harry Thimont – Ashurst; Louise Chan – Ashurst; Kiara De Silva – Ashurst; Robert Thurlow – Ashurst; Caroline Chambers – Ashurst;

Law Firms: Slaughter and May; Ashurst;

Clients: Goldman Sachs International; Greenhill & Co., LLC; Greencore Group plc;