September 01, 2014
International law firm Weil, Gotshal & Manges is advising Access Industries Group on its final cash offer to acquire the remaining shares it does not already own in LSE-listed Perform Group, the sports rights company. The Access Industries Group currently owns approximately 42.5% of Perform. Perform is focused on the commercialisation of multi-media sports content across multiple platforms, and owns one of the largest portfolios of digital sports rights in the world through contracts relating to more than 200 sports leagues, tournaments and events. The offer values the whole of the issued share capital of Perform at approximately £702 million.
Weil has advised the privately-owned industrial group Access Industries on a number of M&A matters previously.
This transaction adds to a busy Q3 for Weil's global Corporate practice, leading on transactions across the deal spectrum, including most recently advising Kinder Morgan in its $70 billion acquisition of KMP, KMR and EPB in the US, and in Europe advising Lone Star on the sale of German Düsseldorfer Hypothekenbank. Earlier in the year, a joint London/Asia team advised FTSE 250 company RPC Group plc on its acquisition of Hong Kong-based ACE Corporation.