Slaughter and May is advising Towry, and its major shareholder Palamon Capital Partners, on the sale of Towry to Tilney Bestinvest in a transaction which values Towry at £600 million. Tilney Bestinvest is owned by Permira funds and its employees.

The combination creates one of the leading UK wealth management firms offering both financial planning and investment management services, with responsibility for over £20 billion of assets.

Contacts

Herbert Smith Freehills has advised Goldman Sachs (Asia) L.L.C. on Hong Kong and US law aspects of its role as the joint sponsor, joint global coordinator, joint bookrunner and joint lead manager on the listing and global offering of China Zheshang Bank's H shares.

Subject to the overallotment option, the IPO raised more than HK$13 billion (US$1.69 billion), making it the largest IPO globally year-to-date and the largest IPO of a PRC commercial bank in Hong Kong since 2013.

Baker & McKenzie advised Morgan Stanley Australia Securities Limited (Morgan Stanley) and Evans and Partners Pty Ltd (Evans & Partners) in their role as joint lead managers of the AUD$20million institutional placement by Toxfree Solutions Ltd (Toxfree).  The institutional placement was fully underwritten by Morgan Stanley.

Charles Russell Speechlys have acted for N+1 Singer Advisory LLP in its role as nominated adviser and sole broker to Harwood Wealth Management Group plc’s over-subscribed IPO on AIM.

Trowers & Hamlins has acted as international legal counsel for BBK B.S.C. (BBK), a leading financial services firm and one of the largest banking institutions in the Kingdom of Bahrain offering a broad range of advice, products and services, on its issue of BHD 100,000,000 perpetual subordinated contingent convertible additional tier 1 capital securities (callable 2 May 2021 and every five years thereafter) arranged by Securities & Investment Company (SICO).

London—Dentons has advised long-standing client the European Bank for Reconstruction and Development (EBRD) on a US$100 million equity investment into Egypt’s agribusiness sector.

EBRD has invested into United Sugar Company of Egypt S.A.E. (USCE), a subsidiary of Savola Group, which is one of the largest food groups in the Middle East and North Africa region. The investment will involve EBRD converting an existing US$50 million loan to USCE into equity and providing an additional US$50 million in share capital.

King & Wood Mallesons represents the joint bookrunners and joint lead managers in connection with a further issue of US$120 million 6.90% guaranteed notes due 2019 by Hong Kong Airlines Limited (“Hong Kong Airlines”), which are consolidated and form a single series with Hong Kong Airlines’ US$180 million 6.90% guaranteed notes due 2019 issued on 20 January 2016.

Allen & Overy has acted for the Advisory Services unit of the International Finance Corporation (IFC Advisory), in conjunction with the Ministry of Electric Power (MOEP) and the state-owned Myanmar Electric Power Enterprise (MEPE), on the signing of a Power Purchase Agreement (PPA) with Sembcorp Myingyan Power Company Limited (a subsidiary of Sembcorp Industries) in relation to the Myingyan IPP.

With a team led by Dr. Sönke Görgens and Dr. Michael Dröge, both Partners at the Hamburg office, the law firm of Heuking Kühn Lüer Wojtek advised WealthCap on the acquisition of the BayWa AG headquarters in Munich (Arabellapark). The property was sold by BayWa AG and project developer Competo Capital GmbH. Both companies held 50% ownership. The purchase price was about EUR 280 million.
 

Castrén & Snellman advised the Sole Global Coordinator and Joint Bookrunner Danske Bank A/S, Helsinki Branch and the Joint Bookrunner UBS Limited in Sponda’s rights issue of approximately EUR 220 million. The proceeds from the rights issue will be used to partially repay the bridge loan raised for the acquisition of the Forum properties. The rights issue was fully subscribed for.