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Freshfields advises Lloyd's Register on the sale of its BAIS division to Goldman Sachs Asset Management

Freshfields Bruckhaus Deringer (‘Freshfields’) has advised Lloyd’s Register (‘LR’), a global provider of professional services specialising in engineering and technology solutions, on the sale of its Business Assurance & Inspection Services division, including cyber-security business Nettitude, to Goldman Sachs Asset Management.

The transaction is a key milestone in LR's strategy to become the go-to partner and adviser on compliance, performance and sustainability to the maritime industry and broader ocean economy and will allow accelerated investment in LR’s maritime service offering, both organically and through acquisitions. The transaction is expected to complete during the second half of 2021, following customary antitrust and regulatory approvals.

The Freshfields team is being led by global transactions partner Richard Lister and senior associate Ziyad Nassif. Partners Martin McElwee, Holly Insley, May Smith and Nabeel Yousef led on antitrust, employment and pensions, tax and compliance matters respectively.