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Finance & Banking

Thommessen acted for Skandiabanken ASA

09 Nov 2015

Thommessen acted in the establishment and IPO of Skandiabanken ASA.

Skandiabanken ASA is a Norwegian pure digital bank that offers a comprehensive range of financial products and services to individuals and households in Norway within payments and card services, deposit-based savings, investment products, long-term loans and short-term loans. The bank has no branches and all products and services are offered directly through the digital platform which is available on a broad range of user devices.

Kirkland & Ellis Advising J.P. Morgan on Youku Tudou’s Acquisition by Alibaba Group

06 Nov 2015

Kirkland & Ellis is advising J.P. Morgan Securities (Asia Pacific) Limited as financial advisor to the Special Committee of Youku Tudou Inc. (NYSE: YOKU), a leading multi-screen entertainment and media company in China, in connection with its acquisition by Alibaba Group Holding Limited (NYSE: BABA) in an all-cash transaction. The transaction was announced on November 6, 2015.

The Kirkland team on the transaction is being led by Hong Kong corporate partner Jesse Sheley.

Ashurst advises pbb Deutsche Pfandbriefbank on refinancing the Phoenix retail portfolio

06 Nov 2015

Ashurst advised pbb Deutsche Pfandbriefbank (pbb) on the partial refinancing of the real estate portfolio "Phoenix". The portfolio comprises three shopping centres in the whole of Germany which were acquired by affiliated companies of Cerberus Capital Management, L.P. in August 2013. Existing loans are redeemed through the new financing. Beyond refinancing, pbb is furthermore granting a loan for reconstruction and maintenance measures of individual Phoenix real estate properties.

Freshfields advises Siemens Financial Services on the acquisition of a stake in the £1.5 bn Galloper wind farm

06 Nov 2015

Freshfields Bruckhaus Deringer has advised Siemens Financial Services (SFS) on its acquisition of a 25% stake in the Galloper offshore wind farm, which is to be built off the coast of Suffolk.
The project is now owned in equal shares by the joint equity partners RWE Innogy, Siemens Financial Services, Macquarie and the Green Investment Bank, having previously been jointly developed by RWE Innogy and SSE. Financial Close was achieved on Thursday 29 October.

White & Case Advises Bank Syndicate on Wendel's €300 Million Bonds Issuance

05 Nov 2015

White & Case LLP has advised BNP Paribas, Natixis and Société Générale Corporate & Investment Banking as Joint Lead Managers on the issue by Wendel of its €300 million 1.875 percent Bonds due 2020 issued on October 12, 2015.

The White & Case team in Paris was led by partner Cenzi Gargaro with support from associate Petya Georgieva. Partner Alexandre Ippolito advised on tax issues. The issuer was advised by its internal legal team headed by Sébastien Willerval, Head of Legal and Sébastien Metzger.

Reed Smith advises ICG on £155 million unitranche financing to support acquisition of Gala Bingo

05 Nov 2015

Reed Smith has advised Intermediate Capital Group plc (ICG) on its £155 million financing to support the £241 million acquisition of Britain’s biggest bingo chain, Gala Bingo, by listed private equity house, Caledonia Investments plc. The vendor, Gala Coral Group Limited, is divesting the asset in connection with its £2.3 billion merger with Ladbrokes. The transaction is subject to the approval of the UK Gambling Commission.

The senior debt facility is fully underwritten by ICG.

KWM advised China Huarong on its successful listing on the main board of HKSE

04 Nov 2015

King & Wood Mallesons (KWM) has advised China Huarong Asset Management Co., Ltd. (China Huarong), the largest financial assets management company in China by assets, on its successful listing on the main board of Hong Kong Stock Exchange (Stock Code: 2799). The listing saw China Huarong issue approximately  5.77 billion H shares (before exercising the over-allotment option). Pricing its shares at HK$3.09 per share, the company raised approximately HK$17.9 billion.

Slaughter and May is advising Atlas Mara - latest transaction in Rwanda

04 Nov 2015

Slaughter and May is advising Atlas Mara on its subscription for shares in Banque Populaire du Rwanda (BPR), and the subsequent merger of Atlas Mara’s wholly owned subsidiary BRD Commercial Bank Ltd (BRDC) with BPR. The transaction is subject to customary conditions and local regulatory approval and is expected to complete by the end of the year.

Following completion of the transaction, it is intended that BRDC will be merged with BPR to create Rwanda’s second largest bank by assets, with Atlas Mara retaining a majority interest in the enlarged BPR entity.

Freshfields advises China Huarong on US$2.3bn IPO

04 Nov 2015

Freshfields Bruckhaus Deringer has advised China Huarong Asset Management Co., Ltd. (China Huarong) on its HK$17.8bn (US$2.3bn) IPO.

Freshfields advised China Huarong on both the Hong Kong and US aspects of the listing, which commenced trading on the Hong Kong Stock Exchange on 30 October 2015.

China Huarong, a state-owned enterprise, is one of China’s largest distressed debt management companies.