Ashurst and Morgan, Lewis & Bockius and have acted for media and B2B events organisation UBM in the $841 million sale of its PR Newswire business to U.S. news release service Cision.
Owned by private equity firm GTCR, Cision tapped Kirkland & Ellis and Trilegal as its legal counsel in the U.S. and India, respectively. Meanwhile, London-headquartered UBM turned to Kochhar & Co for advice on matters related to Indian law.
The Morgan Lewis team, which handled the deal's U.S. aspects for UBM, was led by partners Charles Engros and Jonathan Morris. Corporate partners James Wood and Adrian Clark oversaw the transaction for Ashurst, which served as UBM's legal advisor.
K&E's team was headed by Stephen Ritchie, Mark Fennell and Christopher Butler while partner Chandrasekhar Tampi handled the deal for Kochhar & Co.
The deal includes $810 million in cash and preferred equity worth $31 million, according to UBM.