Kirkland & Ellis advised TDR Capital and its portfolio company, Stonegate Pub Company, on the £1.27 billion recommended cash offer for Ei Group plc. Stonegate's offer implies an enterprise value for Ei Group of just under £3 billion.
The Kirkland team was led by London M&A partners David Holdsworth, Stuart Boyd and Dipak Bhundia, antitrust partner Paula Riedel and tax partner Tim Lowe.
Stonegate is a managed pub company and has a national estate of over 765 operating outlets. Stonegate began trading in November 2010 following the acquisition by Stonegate of 333 pubs from Mitchells & Butlers and has since grown in size and scale through a series of strategic acquisitions. Ei Group is the largest owner of pubs in the UK with over 4,000 properties across England and Wales.