We acted for the senior lenders in a syndicate led by Skandinaviska Enskilda Banken AB (publ) in connection with the financing of an acquisition of 40% of the partnership interests in Fosen Vind DA.
The shares were purchased by Nordic Wind Power DA, a European investor consortium established by Credit Suisse Energy Infrastructure Partners.
The Swiss listed private bank EFG International AG agreed to acquire the Swiss bank BSI SA from Banco BTG Pactual S.A. for a purchase price of approx. CHF 1.328 billion.
On February 17, 2016, Glencore announced the signing of an up to USD 8 billion revolving credit facility. Lenz & Staehelin acted as counsel to the lenders.
The team included Marcel Tranchet, Pascal Genoud and Charlotte Rüegg.
Grupo Farmoquímica acquires the subsidiary
The industrial pharmaceutical group, Cantabria S.A., (IFC) has sold its subsidiary in Brazil, Melora do Brasil Productos Dermatológicos, S.A., to Grupo Farmoquímica, specializing in producing prescription medicine.
The agreement between the groups includes disinvestment and the exclusive distribution of products and raw materials over a ten-year period.
Castres & Snellman were legal counsel to United Bankers Plc group in an arrangement in which UB’s subsidiary UB Asset Management Ltd acquired POP Bank’s investment service company Optium Oy. Through this deal, UB will be able to acquire a significant number of new clients for its asset management services. The purchase of Optium also expands UB’s geographical network. The C&S team was led by Jarno Tanhuanpää.
King & Wood Mallesons advised Omnes Capital and Parquest Capital on the sale of their stakes, close to 40%, in Vivalto Santé to a group of investors led by CDC International Capital and including Mubadala Development Company and insurer MACSF.
Vivalto Santé’s three long-standing shareholders - BNP Paribas Développement, Arkéa Capital Partenaire and the network of the Caisses du Crédit Agricole – also formed part of the group of investors.
Ashurst has advised Banca IMI, UniCredit, Banca Popolare di Milano, UBI Banca and MPS Capital Services who have been mandated on the structuring of a project financing of up to €2.6 billion for the construction of the Pedemontana Lombarda toll road.
Ashurst has also advised the same syndicate of banks together with Intesa Sanpaolo on a €200 million bridge loan for the refinancing of the existing bridge loan.
Ashurst LLP advised Astorg Partners and Goldman Sachs Merchant Banking Division on the financing of the acquisition of the HRA Pharma group.
HRA Pharma, a pharmaceutical group founded in 1996, specialises in women's health and endocrinology.
Following the European Commission's approval of the merger on 21st January 2016, Astorg Partners and its co-investor, Goldman Sachs, gained control of the HRA Pharma group from its founders and the fund The Riverside Company in order to support the group's growth plan.
The transaction was finalised on 18th February 2016.
Ashurst LLP advised Astorg Partners on the financing aspects of the acquisition of the SGG group.
SGG is one of the key providers of fiduciary services to the Benelux countries.
Copeba, an independent privately-held investment company, sold Astorg Partners its stake in SGG, giving a share to the SGG management team.
The transaction was finalised on 10th February 2016.
The team from Ashurst LLP Paris was composed of Stéphanie Corbière, partner, and David Albertini, associate.
Herbert Smith Freehills has successfully acted for KPMG LLP in its defence of a judicial review brought in connection with KPMG's role in the large scale review of mis-sold interest rate hedging products (IRHPs). In R (on the application of Holmcroft Properties Limited) v KPMG LLP [2016] EWHC 323, the Divisional Court found that KPMG was not fulfilling a public function and so was not amenable to judicial review in this context. This confirms KPMG's understanding of the nature and scope of their responsibilities and that a firm in this context will not be amenable to judicial re