We have advised PayPoint plc on the £26.5 million sale of its mobile payments business to Volkswagen Financial Services AG. .
Corporate finance partner Tom Pickthorn led an international team advising Welwyyn-based PayPoint on the transaction, along with our “best friend” relationship firms, FIDAL in France and Bull Housser in Canada.
Clifford Chance advised ANZ on its agreement to sell its 20% stake in Shanghai Rural Commercial Bank (SRCB) to China COSCO Shipping Corporation Limited and Shanghai Sino-Poland Enterprise Management Development Corporation Limited.
The agreement will see COSCO and Sino-Poland Enterprise each acquire 10% of SRCB for a total consideration of RMB9.19 billion (approximately A$1.84 billion or US$1.32 billion).
The deal was led by China Co-Managing Partner Terence Foo and Corporate Partner Glen Ma who were supported by associates Jay Liang and Kenny Yu.
Dechert advised Mason Financial Holdings Limited, a Hong Kong listed company, on its approximately HK$214.2 million acquisition of the entire issued share capital of two target companies, which collectively hold approximately 48.3% of DiagCor Technology Limited, the holding company of a group of leading molecular diagnostics companies in Hong Kong. The transaction closed on January 4, 2017.
Watson Farley & Williams (“WFW“) has advised a syndicate of three banks on the transfer of the original €53m financing for the construction of a 35 MW wind plant in Montaguto in Avellino province, Campania, Italy.
The wind plant is owned by an SPV controlled by French private equity fund Ardian and Italian renewable energy provider Margherita Srl.
The WFW Italy team advising the banks was led by finance Partner Pierpaolo Mastromarini, assisted by Associate Daniele Pompei.
Clifford Chance has advised Greenhill and HSBC as joint sponsors, and HSBC, Goodbody, Jefferies and Rabobank as underwriters, on Greencore's £439 million rights issue to fund part of the consideration for its US$747 million acquisition of Peacock Foods, the fast-growing US convenience food manufacturer.
The deal is set to accelerate Greencore, who supply a number of customer own-label ranges, as well as some of the UK's best loved brands such as Heinz and Bisto, towards its vision to become a fast-growing, international convenience food leader.
CORESTATE Capital Holding S.A. (CORESTATE), a fully integrated real estate investment manager and co-investor, is purchasing 94.9% of the shares in the HANNOVER LEASING Group. The sellers are essentially the majority shareholders of the HANNOVER LEASING Group, Landesbank Hessen-Thüringen Girozentrale (Helaba) and Hessisch-Thüringische Sparkassen-Beteiligungsgesellschaft (HTSB).
New York, 22 December 2016 – Hogan Lovells has advised Banco Cuscatlán in El Salvador in creating and sponsoring a new diversified payment rights securitization program (DPR). Titularizadora de DPRs Limited, a special purpose vehicle organized in the Cayman Islands, borrowed US$100 million of Series 2016-1 Loans. Credit Suisse was the sole lender.
The transaction closed on December 9, 2016.
The Hogan Lovells team included New York partners Emil Arca and Oscar Stephens, and associate Rebecca Francus.
Shearman & Sterling represented Santander Investment Securities Inc., Goldman, Sachs & Co. and Morgan Stanley & Co. LLC as underwriters in connection with the SEC-registered offering by Grupo Financiero Santander México, S.A.B. de C.V. of US$500 million of its 8.500% perpetual subordinated non-preferred contingent convertible additional Tier 1 capital notes.
Davis Polk advised the Caisse des dépôts et consignations, a French public sector financial institution, on its agreement with Veolia Environnement for the reorganization of shareholdings and Veolia’s withdrawal from Transdev Group, an international public transport group.
Under the terms of the agreement, CDC acquired 20% of Transdev’s capital for €220 million. Following this operation, CDC owns 70% of Transdev’s capital and has exclusive control, while Veolia is retaining 30% on a transitional basis.
Davis Polk advised the initial purchaser in connection with a $100 million Regulation S offering by Fantasia Holdings Group Co., Limited (the “Company”) of its 7.375% senior notes due 2021 to be consolidated and form a single class with the $400 million aggregate principal amount of 7.375% senior notes due 2021 issued by the Company on October 4, 2016.