De Brauw Blackstone Westbroek has advised RELX Finance on establishing their USD 3 billion US Commercial Paper Programme, irrevocably and unconditionally guaranteed by RELX NV and RELX PLC on a senior unsecured basis.

The Programme establishes the framework under which RELX, formerly known as Reed Elsevier, can issue commercial paper in the future. Commercial paper is an unsecured promissory note with a fixed maturity of no more than 12 months and is used by corporations to fund their short-term obligations.

Team

RPC has advised on the creation of a Lloyd's Special Purpose Syndicate (SPS) to be managed by Pembroke (the Lloyd's operation of Ironshore, the global speciality property and casualty insurance division of the Fosun Group). The SPS will be capitalised by Patria Re, an international reinsurer  headquartered in Mexico (and part of the Pena Verde insurance group), and will focus on Latin American risks.

Clifford Chance has advised China Construction Bank Corporation on its US$3.05 billion, 4.65% non-cumulative perpetual offshore preference shares. Partner Angela Chan led on the deal, supported by partners Connie Heng and Fang Liu and associates Song Yue, Torrance Shi and Vivian Li.

Ms Chan said, "Despite the volatility of the summer, we've seen an increase in issuances towards the end of 2015. China Construction Bank has achieved the lowest ever Additional Tier 1 coupon for a Chinese bank and this sets a good benchmark for other bank capital issuance in 2016."

Vinge has advised Fidelio Capital in connection with Nordic Capital’s acquisition of the majority of the shares in the Greenfood group (“Greenfood”), a leading supplier on the attractive market for healthy foods (fruit, vegetables and salads) in the Nordic region.  Greenfood has a turnover of SEK 3.9 billion, approximately 700 employees and its head office is situated in Helsingborg. Greenfood is currently owned by its senior officers, management group and the Swedish family-owned investment company Fidelio Capital.

Vinge has advised SBAB in connection with the acquisition of the entire issued share capital in Booli Search Technologies AB (“Booli”). Completion in respect of 67% of the shares will take place in January 2016 and it is intended that the remaining 33% will be acquired subsequently. Booli develops products and services directed to the housing market.

Arendt & Medernach assisted Industrial and Commercial Bank of China (Europe) S.A. (“ICBC (Europe)”) regarding the process leading to the approval of the creation of the ICBC Credit Suisse S&P China 500 Index Fund within ICBC (Europe)’s proprietary UCITS SICAV umbrella.

Allen & Overy advised Sberbank CIB[1] as arranger in relation to the USD2.5 billion financing of Renova Group’s mandatory tender offer to all shareholders of Sulzer AG (SUN:SIX Swiss Ex).  Pursuant to the offer, on 4 December 2015, Renova Group acquired shares in Sulzer representing 29.5%. of the ordinary issued share capital of the company.  As a result of the offer, when combined with Renova Group’s existing holding of Sulzer shares, Renova Group acquired majority control of the company, holding 62.86%.

Berwin Leighton Paisner (BLP) has advised Banque Fédérative du Crédit Mutuel (BFCM) alongside De Pardieu Brocas Maffei on the acquisition of GE’s Equipment Finance and Receivable Finance businesses in France and Germany which have combined net earnings assets of over $10 billion following a competitive auction process. GE Capital’s Commercial Lending and Leasing (CLL) platforms in France and Germany provide factoring and leasing products and services to a broad range of commercial customers.

NCTM assisted UniCredit, as agent bank, BNL, BPM, CariVeneto, Friuladria and Banco Popolare in the medium\long term financing granted to Zuegg and the new company Oswald Zuegg for a total amount of €31.5 million. NCTM team, led by the partner Stefano Padovani, was made up of the salary partner Giovanni de’ Capitani and the associate Alessandra Pirozzolo.

DLA Piper advised The Royal Bank of Scotland and Rabo Investments on the sale of INVE Aquaculture, a leading specialist manufacturer of advanced nutrition and health products for aquaculture, to Benchmark.

INVE B.V. and INVE Aquaculture Management Holding B.V. have reached an agreement with Benchmark Holdings plc  to acquire all the shares in the capital of INVE Aquaculture Holding B.V. for a total consideration of USD 342 million. The acquisition of INVE will enable Benchmark to expand its global operations in the aquaculture technology market.