The move sees one of Britain’s oldest steelmakers taken into public ownership, reflecting its importance as a national asset. The MoD has announced it will invest a further £400m over the next ten years, and plans to eventually return the business to the private sector.
South-Yorkshire based Sheffield Forgemasters, which can trace its roots back to 1750, plays a critical role in the building of the UK’s nuclear submarine fleet. Its effective nationalisation reflects both its importance to the nation and the government’s approach to critical national assets under the new National Security and Investment Act.
The AG team was led by Richard Hunt (Picture) with Victoria Kierans, Tom Hopwood and Becky Sabin (Corporate), along with Al Mangan (Competition), Andy Fordham, James Washington, Danielle Greenley (Finance) and James Reynolds (Construction and Engineering), and other specialist teams over the last 15 months.
The Simmons team was led by Mark Carroll and Richard Dyton with leading corporate lawyer Kim Farrar supported by Tom Smith and Charlotte Brearley. A team of 32 specialist lawyers covering all required disciplines allowed a speedy reporting process.
Involved fees earner: Andrew Fordham – Addleshaw Goddard; Danielle Greenley – Addleshaw Goddard; Thomas Hopwood – Addleshaw Goddard; Richard Hunt – Addleshaw Goddard; Victoria Kierans – Addleshaw Goddard; Al Mangan – Addleshaw Goddard; James Reynolds – Addleshaw Goddard; Rebecca Sabin – Addleshaw Goddard; James Washington – Addleshaw Goddard; Charlotte Brearley – Simmons & Simmons; Richard Dyton – Simmons & Simmons; Kim Farrar – Simmons & Simmons; Mark Carroll – Simmons & Simmons; Tom Smith – Simmons & Simmons;