Slaughters and Macfarlanes take seats on Cineworld's proposed $3.6bn takeover of US rival

Slaughter and May is advising UK cinema operator Cineworld on its proposed $3.6 bn (£2.7bn) takeover of US rival Regal Entertainment.

Regal released a statement yesterday (28 November) confirming the pair are “currently engaged in discussions”.

Slaughters London corporate partner David Johnson and finance partners Guy O’ Keefe and Ed Fife are advising Cineworld on the offer.

The cinema operator runs more than 2,000 screens across Europe and is a longstanding client of Slaughters.

Macfarlanes is advising Regal, with London corporate and M&A partner Harry Coghill leading the firm’s team.

Paul Hastings is advising Regal financial adviser Morgan Stanley with a team led by Los Angeles based corporate partner David Hernand.

Johnson and O’Keefe were part of the Slaughters team that advised Cineworld on its £504m acquisition of Poland-based Cinema City International (CCI) in 2014.

That deal also threw up roles for Clifford Chance, which advised CCI, while Herbert Smith Freehills acted for the banks underwriting the deal,

In 2013, a host of firms won roles on the £935m sale of cinema chain Vue Entertainment by private equity firm Doughty Hanson to two Canadian investor groups.

Allen & Overy, Ashurst, Debevoise & Plimpton and Skadden Arps Slate Meagher & Flom all advised.

O’Keefe is also part of the Slaughters team currently advising on the UK government’s sale of £11.8bn of buy-to-let mortgages, which belonged to failed lender Bradford & Bingley. The firm is advising HM Treasury.