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Finance & Banking

Heuking Kühn Lüer Wojtek advises Volksbank Rhein-Ruhr eG on the acquisition of Werhahn mill in Duisburg

10 Aug 2017

Volksbank Rhein-Ruhr eG, Duisburg, has acquired the Werhahn mill in Duisburg's inner harbor from alltours Flugreisen GmbH, Düsseldorf. The Werhahn mill, comprising about 27,000 square meters of space with some 50 tenants, will be used as an office and restaurant complex. The brick building, which is partly protected as a historic monument, on the promenade of the inner harbor houses two renowned restaurants, "Diebels" inn and "Bolero." The property had been acquired in a foreclosure sale by "Alltours" in 2011.

WFW advises Commerzbank on corporate loan to FRS Group

09 Aug 2017

International law firm Watson Farley & Williams (“WFW”) has advised Commerzbank AG (“Commerzbank”) on the granting of a corporate loan facility to the Förde Reederei Seetouristik GmbH & Co. KG Group (“FRS Group”).

The FRS Group intends to primarily use the loan to finance €17m project expansion costs. Other tranches of the loan will be used to renew its ferry fleet operating between Hamburg and Heligoland (including a newbuild vessel for 2018) and to expand its business in the US northwest.

Shearman & Sterling Advises Underwriters on Initial Public Offering of Venator Materials PLC

08 Aug 2017

Shearman & Sterling advised the underwriters of Venator Materials PLC’s initial public offering of 26,105,000 ordinary shares (including 3,405,000 ordinary shares purchased by the underwriters pursuant to their option to purchase additional ordinary shares) at an initial public offering price of $20.00 per share. All of the ordinary shares were sold by Huntsman Corporation through its subsidiaries, which received approximately $522.1 million in gross proceeds from the offering.

Osborne Clarke advises HSBC on the £25m funding of Amberon MBO

08 Aug 2017

International legal practice Osborne Clarke has advised HSBC on the £25M funding of the management buyout of Amberon, one of the UK’s leading traffic management services, by LDC.

As part of its investment, LDC will take a significant stake in the fast-growing company alongside the current management team – led by Managing Director Terry Musson and Commercial Director Daniel East – whilst enabling its founder shareholders to exit the business.

Freshfields advises underwriters of SoftBank note issuance in world’s biggest high-yield hybrid perpetual bond deal

08 Aug 2017

Freshfields Bruckhaus Deringer (‘Freshfields’) has advised a syndicate of underwriters led by Morgan Stanley, Deutsche Bank and BofA Merrill Lynch as Joint Global Coordinators in connection with the issuance by SoftBank Group Corp. (‘SoftBank’) of its US$2.75 billion 6.000% Undated Subordinated NC6 Resettable Notes and US$1.75 billion 6.875% Undated Subordinated NC10 Resettable Notes. The perpetual notes, which are governed by English law, were listed on the Singapore Stock Exchange.

Clifford Chance advises the Joint Global Coordinators and Joint Bookrunners of PJSC Polyus' public offering

08 Aug 2017

Clifford Chance advised the Joint Global Coordinators and Joint Bookrunners of PJSC Polyus' ("Polyus") public offering of 12,020,442 shares in the form of ordinary shares and depositary receipts and the listing of the depositary receipts on the LSE. The total size of the offering was $799 million, excluding the over-allotment option. The offering was the largest international offering by a Russian issuer since 2Q 2014 and the first offering with a listing of depositary receipts by a Russian issuer on the London Stock Exchange since 2014.

Ashurst advises Park24 and Development Bank of Japan on acquisition of National Car Parks

07 Aug 2017

Ashurst advised Japanese parking operator Park24 Co., Ltd. ("Park24") and the Development Bank of Japan ("DBJ") on the £312 million acquisition of National Car Parks Limited ("NCP") from Macquarie European Infrastructure Fund II which completed on 3 August.

Following the acquisition, Park24 now operates parking spaces for about 1.2 million cars in eight countries. National Car Parks was founded in 1931 in London and currently operates approximately 500 parking lots for 150,000 spaces in the UK.

Ashurst advises on Blackstone and CVC's £2.96 billion recommended cash offer for Paysafe Group

07 Aug 2017

Ashurst is advising Credit Suisse International in relation to the £2.96 billion recommended cash offer for Paysafe Group plc by PI UK Bidco Limited ( a newly formed company jointly-owned by a consortium of funds managed by Blackstone and funds managed and/or advised by CVC), announced today.

Ashurst advises UBS AG, Australia Branch and Credit Suisse (Australia) Limited as Underwriters on A$164 million entitlement offer

04 Aug 2017

Ashurst has advised UBS AG, Australia Branch (UBS) and Credit Suisse (Australia) Limited (CS) as Underwriters of a fully underwritten pro-rata non-renounceable entitlement offer by Webjet Limited (Webjet) to raise A$164 million (Entitlement Offer).

Under the Entitlement Offer, eligible shareholders have been invited to subscribe for one new ordinary share in Webjet for every six existing Webjet shares held on Monday 7 August 2017. The offer price of $10.00 per new share represents a 8.6% discount to the theoretical ex-rights price of $10.94 on 1 August 2017.

Hogan Lovells Represents Placement Agents on IRB-Brasil Resseguros R$2 billion (US$639 million) IPO

04 Aug 2017

Hogan Lovells represented Bradesco BBI, BB Securities, Itaú BBA, JP Morgan, Plural Brazil, Bank of America Merrill Lynch and BTG Pactual as placement agents for Brazil's largest reinsurer IRB - Brasil Resseguros S.A., Brazil’s largest reinsurer, in its 2 billion Brazilian reais (equivalent to US$639 million) initial public offering. Shares sold in the transaction were listed on the São Paulo Stock Exchange.