Linklaters has advised Luxinva S.A., a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA), as consortium partner to EQT on the takeover of Intertek for around £10.9bn (including debt). Intertek Group PLC (Intertek) is a leading quality assurance provider to industries worldwide, with a network of more than 1,000 laboratories and offices in more than 100 countries.
The £61.08 per share cash and dividend deal values Intertek’s equity at £9.5bn, and marks Britain’s third-largest take-private deal, behind the acquisitions of airport operator BAA in 2006 and pharmacy chain Alliance Boots in 2007, according to LSEG-compiled data.
Luxinva and a wholly owned subsidiary of Mubadala will become minority shareholders in Intertek, with stakes of 16% and 8%, respectively.
An international cross-practice Linklaters team advised Luxinva on this transaction. The team was led by Partners Nicholas Edwards (Abu Dhabi), Richard Spedding (London) and Counsel Claire Neil (Dubai).
The core team included Partner Rupert Cheyne (Corporate/M&A, London), Partner Alexei Franks (Tax, London), Annamaria Mangiaracina (Antitrust and Foreign Investment, Brussels), Counsel Jack Harrison (Tax, London), Managing Associates Landy Mao (Corporate/M&A, Abu Dhabi) and Karolis Pocius (Antitrust and Foreign Investment, Brussels), and Associates Prerna Handa, Deborah Wong (both Corporate/M&A, London) and Malak Toshani(Tax, London).
