Simpson Thacher represented NewQuest Capital Partners in connection with the formation and raising of its third direct secondaries fund, NewQuest Asia Fund III. The fund has reached a final close in June 2016 at the hard cap of $540 million, increasing it from the original hard cap of $520 million in order to accommodate investor demand. The fund, which was launched in September last year, had an initial target of $500 million. The fund's first close was held in March, beating the initial target for the entire vehicle.

On 23 June 2016, Cembra Money Bank AG (Cembra) closed its fourth auto lease securitization transaction involving the issue by Swiss Auto Lease 2016-1 GmbH (the Issuer) of CHF 200,000,000 0.22 per cent. Asset-Backed Class A Notes due 2026 and CHF 22,600,000 0.40 per cent. Asset-Backed Class B Notes due 2026 to the Swiss capital market. The Notes issued are listed on the SIX Swiss Exchange and are backed by a portfolio of auto lease assets originated by Cembra and transferred to the Issuer.
 

Noerr has supported the FinTech company MyBucks with its initial public offering on the Frankfurt Stock Exchange. Acting as Transaction Counsel, Noerr has provided comprehensive advice both to the company and to the issuing bank Hauck & Aufhäuser. This is the second time Noerr has been involved in an IPO in Frankfurt within just a few weeks. The MyBucks shares were offered to investors in a public offering in Luxembourg and Germany and to qualified investors in private placements.

Global law firm Norton Rose Fulbright has advised BHL Limited on the proposed privatisation of Bracell Limited. The privatisation will involve the cancellation of all shares not already held by BHL or Gold Silk Holdings Limited. BHL’s offer of HK$1.78 per share values Bracell at approximately HK$6.09 billion.

P+P Pöllath + Partners advised a bank consortium on the financing of the merger of Fischer Tool & Die Corp. and Schaufler Tooling GmbH & Co. KG. The purchase price and the financing volume remain confidential.

Schaufler Tooling GmbH & Co. KG is a leading provider of die casting tools for the automotive industry. The merger with the U.S.-Michigan-based full-service provider Fischer Tool & Die Corp., also specializing in pressure die casting tool solutions and precision machining, creates a leading global manufacturer of die-casting tools.

Shearman & Sterling advised the underwriters, led by UBS and Goldman Sachs, in connection with Banco Popular Español's capital increase of approximately €2.4 billion through a rights offering comprising the issuance of 2,004,441,153 ordinary shares. The syndicate of underwriters also comprised Banco Santander, BBVA, Barclays, Citigroup, Deutsche Bank, Morgan Stanley, HSBC, Credit Suisse, Société Générale, Nomura, Fidentiis and N+1.

Orrick represented Russian banks Sberbank and VTB as providers of RUB70 billion (approx. $1.1 billion) in financing for Telmamskaya HPP LLC (a 100% subsidiary of EuroSibEnergo Group, which is part of the En+ Group, a leading Russian energy and natural resources industrial conglomerate).

Leading legal business DWF has advised Champion Accountants on the disposal of its Southport office via a management buyout.

The Hoghton Street practice has now become Advance Accountancy and will continue to be led by directors Bob Thompson and Janice Hurst. The deal means that Champion now has 110 staff across its offices in Manchester, Chester, Preston and Blackpool.

Ashurst advised Credit Suisse on the refinancing of an existing margin loan portfolio previously provided by UBS AG Australia Branch (UBS Australia), as part of the management buyout by Crestone Holdings of UBS's wealth management business in Australia.

UBS Australia had spun off its wealth management business to Crestone Holdings through a management buyout.  As part of the acquisition, the existing portfolio of margin loans were refinanced by Credit Suisse who will provide ongoing margin lending facilities to Crestone's wealth management customers.

Cravath represented the initial purchasers, led by Credit Suisse and Deutsche Bank, in connection with the €200 million 144A/Reg. S high-yield senior secured debt offering of Verallia Packaging S.A.S., a top manufacturer of glass packaging for food and beverages. The notes were listed on the Luxembourg Stock Exchange. The transaction closed on June 22, 2016.

The Cravath team included partner Philip J. Boeckman and associates Melissa Erdogdu, Guayente Gallego and Said Bakir on corporate matters and partner Christopher K. Fargo on tax matters.