Reorganisations, Restructurings and Privatisations

We regularly advise our domestic and international clients on the complex legal issues that arise from group reorganisations. We also regularly advise on high profile debt restructurings. In addition, we have vast experience in advising on court sanctioned schemes of arrangement and capital reductions. In terms of privatisations, we have played a leading role in the transformation of the Irish public sector over the last two decades and have unrivalled experience in that field, having advised on the privatisation of major utility industries and other state owned corporations and assets.

Arthur Cox remains one of the premier Irish law firms, lauded for offering an exceptional quality of service across an impressively broad range of practice areas.

– IFLR 1000, 2014 Edition

In terms of reorganisations and restructurings, we have advised:

  • Chartered Land on its financial and corporate restructuring, including the sale of Dundrum Town Centre, Ireland’s largest shopping centre
  • Allergan on its US$79 billion capital reduction
  • Allergan on the hive off of its generic pharmaceuticals division ahead of the $40.5 billion sale of that business to Teva Pharmaceuticals
  • Actavis on its US$5.8 billion capital reduction
  • The Irish Minister for Finance, as controlling shareholder, on the capital restructuring, IPO and sale of shares in Permanent TSB
  • On the €1.4 billion restructuring of the Quinn group
  • On the Northern Rock good bank / bad bank restructuring
  • On the £600 million Alliance Medical group restructuring
  • eircom on its restructuring including its acquisition by its senior lender syndicate
  • Glanbia on the disposal of its dairy ingredients business in Ireland to a new joint venture company with its majority shareholder, Glanbia Co-Operative Society, holding a direct controlling interest
  • The Irish State on the restructuring of the Irish Banking sector, including Bank of Ireland, Allied Irish Banks, Anglo Irish Bank, EBS and INBS, including over 40 transactions worth, in aggregate, in excess of €140 billion over 6 years
  • Bank of Scotland (Ireland) on its cessation of business in Ireland and cross-border merger with Bank of Scotland plc

In terms of privatisation work, we have advised:

  • Centrica on the acquisition by way of privatisation of Bord Gáis Energy
  • The Irish Minister for Finance, as controlling shareholder, on the IPO and sale of shares in Permanent TSB
  • The National Treasury Management Agency on the $1.1 billion sale of a 34.9 percent stake in Bank of Ireland to WL Ross & Co., Fairfax Financial Holdings Ltd. and three other investors
  • DAA plc on its sale of the Great Southern Hotel Group for €270 million
  • Aer Lingus on its €1.2 billion listing on the Irish Stock Exchange and London Stock Exchange, including its €740 million initial public offering
  • The Irish Minister for Finance in relation to the sale of the Irish National Petroleum Corporation to Tosco Corporation for $100 million
  • Telecom Éireann (now eir) on its €8.6 billion listing on the Irish Stock Exchange and London Stock Exchange, including its €3.7 billion initial public offering
  • The Irish Minister for Finance in relation to the €430 million sale of TSB Bank to Irish Life & Permanent plc