Firms advise on Reader’s Digest acquisition

Dentons and Olswang have advised on the acquisition of Readers Digest by Mike Luckwell, the venture capitalist behind Bob the Builder, from Better Capital for the nominal sum of £1 as reported by The Lawyer.

Dentons advised Luckwell on the acquisition, led by corporate partner Philip Goodwin, with managing associate Gary Smith. Olswang was appointed for Better Capital, led by private equity partner Duncan McDonald, with associate Beata Callenfels.

Olswang has acted for Better Capital on several previous deals including the private equity company’s £14m acquisition of Reader’s Digest out of administration in February 2010.