- Google, CME turn to repeat advisors
- Companies also announced 10-year partnership
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(Reuters) – Freshfields Bruckhaus Deringer is advising Google LLC on its $1 billion investment in exchange operator CME Group Inc, which is working with Skadden, Arps, Slate, Meagher & Flom.
The companies disclosed the capital injection on Thursday alongside news that they had forged a 10-year partnership under which Google will expand its cloud business and migrate CME’s technology to Google Cloud.
The Freshfields team supporting Google is led by partner Andrea Merediz Basham, the firm said in an email.
Basham previously advised the technology giant on its $4.5 billion deal with Indian conglomerate Reliance Industries Ltd, which included an investment and smartphone development agreement, according to Basham’s firm profile.
Skadden said it’s advising CME with a team led by M&A partner David Clark, intellectual property and technology partner Stuart Levi, capital markets partner Michael Hong and tax partner Nate Carden.
Clark has counseled CME on a handful of acquisitions and transactions, according to his firm profile.