LONDON - Global law firm Reed Smith has advised dmg media Ltd (DMG) on its strategic acquisition of the printing plant business of JPIMedia, comprising printing sites in Portsmouth, Dinnington and Carn.
The transaction follows DMG’s successful acquisition of the “I” newspaper in 2019 and involved an accelerated timetable to complete the transaction ahead of JPI’s disposal of its newspaper business by way of auction process.
The Reed Smith team led the transaction to completion within three weeks and addressed a number of difficult items along the way including obtaining W&I insurance coverage, implementing a pre-completion capitalisation of the target group, land contamination issues, property title issues, employment liabilities and pension liabilities.
The team advising on the matter was led by partner Delphine Currie and associates Daryl Cue and Emma Weeden.