NautaDutilh together with Sidley Austin LLP successfully assisted Kempen & Co, KBC Securities, and Peel Hunt in their role as underwriters in the initial public offering of Kiadis Pharma N.V. and the listing of its shares on the Amsterdam and Brussels market of Euronext.
King & Wood Mallesons (“KWM”) advised Huatai Securities Company Limited (“Huatai Securities”) on its successful Hong Kong IPO and H-share issuance (Company Name: HTSC; Stock Code: 06886). Huatai issued 1.4 billion shares priced at HK$24.80 per share and raised approximately HK$34.72 billion, among which 162,768,800 H-shares were under the overallotment option, which was exercised by the joint global coordinator of Huatai Securities on June 24.
Nabarro has advised Investec on the main market IPO of Kainos Group plc, the UK-based provider of IT services, consulting and software solutions. Investec was acting as sponsor in relation to the transaction which gives Kainos a market capitalisation of £161.3 million.
Kainos operates through three divisions: digital consulting (providing full system development mainly to UK government); Evolve (the market leader for the digitisation of patient records in the UK); and Workday implementation (the implementation of Workday human capital management systems).
Hogan Lovells has advised BMW Finance as transaction counsel on its first ever French auto lease ABS. This transaction is a market first for BMW in France and has been lauded as a "landmark" transaction.
The transaction was arranged by Crédit Agricole Corporate and Investment Bank with BNP Paribas and Crédit Agricole Corporate and Investment Bank as Joint Lead Managers.
Clifford Chance advised GIB Capital LLC as Coordinator and BNP Paribas Investment Company KSA and GIB Capital LLC as joint lead managers and bookrunners on the issuance by SBG Sukuk Limited of its fifth short-term sukuk al-murabaha, guaranteed by Saudi Binladin Group Limited. The financing will be used to re-finance one of the phases of the on-going construction and development of the King Abdulaziz International Airport in Jeddah, Kingdom of Saudi Arabia.
In a challenging business environment Commerzbank AG managed to sell a portfolio of mainly non-perfoming loans of its subsidiary Hypothekenbank Frankfurt AG (formerly Eurohypo AG). In the transaction the bank once again put its trust in Ashurst. The portfolio of German commercial real estate loans with a nominal value of €700 million was acquired by Oaktree.
We advised the European Investment Bank (EIB) in the financial arrangements for the bioproduct mill to be constructed by Metsä Fibre in Äänekoski, Finland. Valued in total at EUR 1.2 billion, the investment project is the largest ever carried out by the forest industry in Finland. In addition to the EIB, six commercial banks, Finnvera plc, the Swedish Export Credits Guarantee Board (EKN) and the Swedish Export Credit Corporation are also participating in the financial arrangements.
Slaughter and May is advising Non-Standard Finance plc (NSF) in connection with its proposed acquisition of Loansathome4u, the home credit division of S&U plc, for cash consideration of £82.5 million. The acquisition is subject to approval by S&U plc's shareholders and customary closing conditions. If completed, the acquisition will be NSF's first acquisition since it listed on the London Stock Exchange in February 2015 with the aim of acquiring and operating one or more non-standard consumer finance businesses.
Watson Farley & Williams (“WFW”), has advised Intesa Sanpaolo S.p.A. and MPS Capital Services S.p.A. on the transfer to BNL S.p.A. of their loans and ancillary rights deriving from an original project finance facility agreement of €23.8 million. The purpose of the original loans was for the construction and maintenance of a 16 MW wind farm in the Apulia Region of Southern Italy.
Dufry AG (Dufry), a Swiss corporation listed on the SIX Swiss Exchange, announced that it has entered into a binding agreement with Edizione S.r.l. to acquire Edizione's 50.1% stake in Italian based World Duty Free S.p.A. (WDF) for EUR 10.25 per share in cash, implying an enterprise value of WDF of EUR 3.6 billion (CHF 3.8 billion). Following completion of the acquisition of Edizione's stake in WDF, Dufry will launch a mandatory tender offer for the remaining 49.9% of WDF's outstanding shares for EUR 10.25 per share in cash.