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Alasdair Steele

Alasdair Steele

Partner
Head of Equity Capital Markets

CMS Cameron McKenna Nabarro Olswang LLP
Cannon Place
78 Cannon Street
London
EC4N 6AF
United Kingdom
Languages English

Alasdair is a Partner in our Corporate Team at CMS London and Head of Equity Capital Markets. He specialises in UK and cross-border corporate finance, including public and private M&A, strategic investments and primary and secondary equity issues, as well as regularly advising on infrastructure consortia and corporate joint venture arrangements. He regularly advises quoted companies and financial intermediaries on the UKLA Listing Rules and Disclosure Rules, the Prospectus Rules, the AIM Rules, the Takeover Code and general company law. Alasdair has a particular focus on the Infrastructure and Technology sectors and regularly visits clients, investors and advisers in China and India.

Between 2000 and 2003, Alasdair was a director in the corporate finance team at NTL (now Virgin Media), where his responsibilities included overseeing and managing a number of acquisitions, investments (including acting as an investor director), fundraisings and disposals both in the UK and abroad, as well as being a core member of the NTL team responsible for effecting its US$20bn Chapter 11 restructuring and refinancing.

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"Extremely responsive pragmatic and strong in all areas."

Chambers and Partners

"a mid-cap equity capital markets specialist who gives well-priced, commercial advice, knows market practice and, for us, he is a go-to person when it comes to these areas"

Michael Lee, GC, Numis Securities

Relevant experience

  • Datang International Power Generation Co. Ltd. on the listing of £676m of H Shares on the Main Market.
  • EC English on its acquisition of the Embassy English language schools business from Study Group.
  • Fixnetix on the acquisition by Computer Sciences Corporation of this winner of the 2011 Deloitte Technology Fast50 UK which provides outsourced managed services across multiple asset classes to leading global banks, hedge funds and proprietary trading groups seeking ultra-low latency trading, market data, hosting, infrastructure connectivity and risk management solutions.
  • Human Capital Investment Group on the MBO of their staffing business backed by private equity funds advised by Graphite Capital.
  • India Infrastructure on its acquisition of £191m of hydro-power and transport and logistics assets from Guggenheim Global Infrastructure Company.
  • Investment Dar on the £150m investment into Aston Martin by Prestige Motor Holdings, which was backed by private equity funds advised by Italian firm InvestIndustrial.
  • Numis Securities on a £104m placing and a £105m rights issue for Main Market listed Future plc.
  • Sequoia Economic Infrastructure Income Fund on >£1bn of fundraisings through a series of placings, open offers and offers for subscription.
  • Sportingbet on its £485m recommended takeover by William Hill and GVC.
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Education

  • 1993 – Dip. L.P., University of Glasgow, Glasgow
  • 1992 – LLB (Hons) (1st Class), University of Glasgow, Glasgow
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Publications

  • Alasdair edits several chapters of Tolleys Company Law and is a frequent contributor of articles on topical legal issues for Tolleys Company Law and Insolvency Newsletter and Tolleys Company Secretary’s Review.
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Lectures list

  • He is also a regular conference speaker, including having spoken at numerous conferences in the UK and Europe on Brexit, Codex London Innovation Summit, the Association of British Insurer’s bi-ennial conference, the German British Forum conference on Brexit and conferences on what makes German Mittlestand companies successful.
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Expertise

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29 October 2020
CMS ad­vises on fun­drais­ings for three AIM-lis­ted life sci­ences com­pan­ies
In­ter­na­tion­al law firm CMS has ad­vised on three sep­ar­ate equity cap­it­al mar­ket (ECM) fun­drais­ings for AIM-lis­ted life sci­ences com­pan­ies. CMS ad­vised fin­nCap Ltd (as nomad and joint book­run­ner) and Nu­mis...
21 December 2020
CMS Ex­pert Guide to on­line gambling law and reg­u­la­tion in Europe
The gambling in­dustry is con­stantly in a state of change. Check out this Ex­pert Guide to see the gambling leg­al land­scape and who to con­tact for any gambling reg­u­lat­ory con­cerns.Al­though this re­source...
18 December 2020
Ex­ec­ut­ive Re­mu­ner­a­tion: Board and Seni­or Ap­point­ments for Lis­ted or Reg­u­lated...
In this art­icle, the second in our series on Ex­ec­ut­ive Re­mu­ner­a­tion, we provide guid­ance for or­gan­isa­tions con­sid­er­ing new seni­or ap­point­ments, po­ten­tially to take a new dir­ec­tion in the wake of COV­ID...
8 October 2020
M&A in a pro­tec­tion­ist world
Re­cent years have seen an in­creas­ing re­treat from glob­al­isa­tion. While the COV­ID-19 pan­dem­ic has seen some busi­ness prac­tices ac­cel­er­ate (such as cloud-based work­ing), it has also seen an ac­cel­er­a­tion...
07 October 2020
CMS Ex­pert Guide to the private place­ment of equity se­cur­it­ies
One of the most com­mon ques­tions we are asked across CMS in our Equity Cap­it­al Mar­ket prac­tice is what are the rules about ap­proach­ing a lim­ited num­ber of in­vestors in dif­fer­ent jur­is­dic­tions, in re­la­tion...
Comparable
09 December 2020
FCA re­view of delayed dis­clos­ure of in­side in­form­a­tion no­ti­fic­a­tions
The FCA re­cently pub­lished a re­view of Delayed Dis­clos­ure of In­side In­form­a­tion (“DDII”) no­ti­fic­a­tions re­ceived un­der Art­icle 17.4 of MAR[1] in which they have iden­ti­fied a num­ber of areas in which...
23 April 2020
CMS tops UK ECM trans­ac­tions leg­al ad­viser rank­ings
CMS has ad­vised on five sep­ar­ate pla­cings for lis­ted com­pan­ies in the past week, re­in­for­cing the firm’s po­s­i­tion as the joint most act­ive leg­al ad­viser on ECM trans­ac­tions in Q1 2020 ac­cord­ing to ECM...
09 October 2020
Fail­ure to im­prove eth­nic di­versity at board level car­ries in­vest­ment risks
Leg­al & Gen­er­al has writ­ten to all com­pan­ies in the FTSE 100 and the US S&P 500 in­dex out­lining their ex­pect­a­tion that they should have at least one BAME board mem­ber by 1 Janu­ary 2022. If a com­pany fails...
28 February 2020
CMS ad­vises Se­quoia Eco­nom­ic In­fra­struc­ture In­come Fund Lim­ited (“SE­QI)...
CMS has ad­vised SE­QI on an open of­fer, pla­cing and of­fer for sub­scrip­tion which has raised £300 mil­lion be­fore ex­penses.  The fun­drais­ing was very sig­ni­fic­antly over­sub­scribed and in­vestor de­mand ex­ceeded...
03 April 2020
Pre-Emption Group pub­lishes ex­pect­a­tions for is­su­ances in the cir­cum­stances...
On 1 April 2020, the Fin­an­cial Re­port­ing Coun­cil pub­lished a state­ment on be­half of the Pre-Emption Group (PEG) set­ting-out the PEG’s ex­pect­a­tions for is­su­ances dur­ing the eco­nom­ic tur­bu­lence caused...
12 February 2020
CMS se­cures no 2 spot in pub­lic M&A leg­al ad­viser rank­ings
CMS closed out 2019 con­tinu­ing its run of suc­cess at re­main­ing one of the most act­ive play­ers on pub­lic M&A trans­ac­tions, as con­firmed in Per­fect In­form­a­tion’s M&A In­sight (M&Ai) Re­port 2019. CMS ranked...
01 April 2020
Guid­ance on Tem­por­ary Meas­ures for AGMs – an up­date for UK pub­lic com­pan­ies
Fur­ther to the UK Gov­ern­ment’s en­act­ment of le­gis­la­tion on 23 March 2020 re­quir­ing all non-key per­son­nel to “stay at home” (the “Stay At Home Meas­ures”), The Chartered Gov­ernance In­sti­tute...