Freshfields advises Spire Healthcare on £1bn acquisition by Toscafund-led consortium

Global law firm Freshfields is advising Spire Healthcare Group plc on its recommended acquisition by a consortium led by Toscafund Asset Management LLP, valuing Spire at approximately £1.03bn.

Spire is a leading independent healthcare group in the UK, operating 38 hospitals and more than 55 clinics across England, Wales and Scotland with a strong presence in Mental Health Talking Therapies and Occupational Health delivery.

Under the terms of the transaction, Spire shareholders will be entitled to receive 250 pence in cash for each Spire share. The acquisition is intended to be implemented by way of a court-sanctioned scheme of arrangement. The offer includes an option for Spire shareholders to elect for an unlisted rollover equity alternative in respect of some or all of their Spire shares.

The Freshfields team is being led by partners Claire Wills, Tamara Young and Meredith Bayley on corporate/M&A matters, partners Alice Greenwell and David Mendel on employment, pensions and benefits, partner Rikki Haria on antitrust matters, partner Claire Harrop on financial services regulatory, partner Alex Watt on real estate, and partner Paul Davison on tax.