City advisers set for a £25m fees bonanza from Stagecoach sale

City advisers working on the takeover of Stagecoach are set for a £25million payday.

Bankers, lawyers, consultants and accountants will pocket the windfall after Stagecoach agreed to a £595million buyout by the German investment firm DWS Infrastructure.

The bumper fees amount to more than 4 per cent of the value of the deal.

DWS’s bankers, Morgan Stanley, will get £10million for their work. Deutsche Bank and RBC, who advised Stagecoach, are taking £6.5million. 

Lawyers Freshfields Bruckhaus Deringer, who are working for DWS, are in line for £3.2million while their rivals Herbert Smith Freehills, on Stagecoach’s side, will get £2.1million.

City PR firms are also flush. Finsbury Glover Hering, co-chaired by former Home Secretary Amber Rudd’s brother Roland, will scoop £400,000 for its work for DWS. 

Smithfields, which advised Stagecoach, is collecting £100,000.

A portion of the fees depend on the deal going through.

German asset manager DWS made its final swoop on Stagecoach this month, gazumping a £445million approach from rival bus firm National Express.

The firm said it has ‘a strong conviction about the UK bus market opportunity’, following Government commitments to improve public transport.

Stagecoach, which has a fleet of 8,400 buses and carries 1billion passengers a year, is backing the DWS approach and is urging its shareholders to vote the deal through.

Investors holding 75 per cent of the stock must agree to the deal by May 21.