Who Are The Bankers Behind the BAT-Reynolds Deal?

By Tim Burke 

LONDON-- British American Tobacco PLC has tapped bankers at Centerview Partners, Deutsche Bank and UBS to help it drive its proposed $47 billion tie-up with peer Reynolds American Inc.

BAT said Friday it is offering to buy the 57.8% of shares it doesn't already own in Reynolds American. It has proposed a cash-and-share deal that values Reynolds at $81.3 billion.

Deutsche Bank and UBS are already corporate brokers to BAT.

The cigarette giant has a long-running relationship with the two U.K.-based bankers at Centerview--Nick Reid and Hadleigh Beals--on the deal. The Centerview team also includes Blair Efron in the U.S.

Messrs. Reid and Beals are among a clutch of high-profile former UBS bankers now working for the advisory boutique in London.

In 2014, the pair led a UBS team that advised BAT on a $4.7 billion investment it made as part of Reynolds' acquisition of rival tobacco producer Lorillard. That deal allowed BAT to maintain a 42% equity position in the enlarged business.

Mr. Reid joined Centerview soon after that deal. Mr. Beals followed in 2015.

Deutsche Bank's Nigel Meek and James Ibbotson, who are working on the BAT-Reynolds deal, also worked on the 2014 investment for BAT.

(END) Dow Jones Newswires

October 21, 2016 06:09 ET (10:09 GMT)

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