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White & Case advises Ocean Outdoor on US$580 million takeover by Atairos

Global law firm White & Case LLP has advised advertising giant Ocean Outdoor on its US$580 million takeover by Atairos, a New York-based independent strategic investment company.

"This transaction is a landmark in the UK market, being a rare example of a UK public takeover effected by way of British Virgin Islands statutory merger," said White & Case partner Guy Potel, who co-led the Firm's deal team.

Ocean Outdoor, a leading operator of premium digital out-of-home advertising including the BFI IMAX and Landsec Piccadilly Lights, is registered in the British Virgin Islands with a listing on the London Stock Exchange's Main Market, putting the transaction outside the scope of the UK's Takeover Code.

The White & Case team which advised on the transaction was led by partners Guy Potel and Philip Broke (both London), and included partners Nicholas Greenacre, Marc Israel and Paul Yin (all London), and associates Kathleen McConchie, JX Zheng, Jack Elliott (all London) and Louise Lundberg (Brussels & Stockholm).

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