30 April 2021
McCann FitzGerald wins ‘Irish Banking and Finance firm of the year’ and ‘M&A deal of the year’ at the IFLR Europe Awards 2021
McCann FitzGerald has been recognised for its advisory role in the AbbVie acquisition of Allergan which was awarded European ‘M&A deal of the year’, and awarded ‘Irish Banking and Finance firm of the year’ at the IFLR Europe Awards 2021, which celebrate legal innovation in multi-jurisdictional transactions. This year, the research process again saw a record-breaking number of submissions from banks and law firms across the continent.
McCann FitzGerald advised AbbVie on its acquisition of Allergan in a cash and stock transaction with a transaction equity value of approximately $63 billion. This was the largest ever acquisition of an Irish company and the combination creates an innovative and diversified biopharmaceutical leader. One of the key aspects of the acquisition of Allergan was the financing, which comprised the largest ever bond offerings and commercial loans with all the complexity of the related multi-jurisdictional issues. The firm advised on the Irish Takeover Panel’s certain funds requirements and helped structure the fully underwritten financing commitments from Morgan Stanley and MUFG Bank for $38 billion. Corporate/M&A partners David Byers and Stephen FitzSimons led the overall assignment with Finance partners Adrian Farrell and Philip Murphy leading on the financing aspects.
The asset finance practice also stood out and covered new ground in the firm’s representation of Nordic Aviation Capital DAC in its $6 billion debt restructuring. The deal was shortlisted in this year’s ‘Restructuring deal of the year’ category and further demonstrates the firm’s depth and versatility on novel financing transactions.
McCann FitzGerald is proud of its market leading finance practice. Its client base encompasses financial institutions, both regulated and unregulated, as well as non-financial corporate and State counterparties. It provides top-tier legal advice, adopting a solution-focused approach, across the full range of financial services activities, from corporate lending and treasury, derivatives, asset management and insurance to aircraft and other big-ticket asset financing, project and infrastructure financing and capital markets transactions.
Its market-leading corporate practice is an internationally recognised corporate/ M&A practice advising clients on the most challenging, high-profile and significant deals including reorganisations and major takeovers, JVs, privatisations of public companies and the structuring of complex acquisitions. They act on the buy/sell/finance side of both public and private mergers and acquisitions and advise private equity buyers on private equity financed deals.
The IFLR Awards cap off months of research into the most innovative cross-border transaction in Europe and the individuals and teams behind them. The awards also recognise the people who have helped to develop financial and corporate infrastructure and who have, over their careers, left a lasting mark on the legal market. The 22nd annual IFLR Europe Awards took place on April 29th with the winners announced through a virtual ceremony.