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Finance & Banking

Ashurst advises RBS on sale of Colonial Group

17 Jan 2014

Ashurst has advised RBS on the sale of its 19.3% stake in Inmobilaria Colonial to Villar Mir Group. The stake represents 43,675,768 shares, valued at one Euro per share.

The Ashurst team was led by Real Estate Partner Cristina Calvo and assisted by Finance Partner Manuel López and associate Gema Fernández. Partner Javier Hernández Galante advised on tax issues.

Cristina Calvo commented: "We are very pleased with the outcome of the sale and the time in which we completed the deal, in order to satisfy the needs of the parties."

Allen & Overy advises Link Market Services on the acquisition of registrar services GmbH from Deutsche Bank

17 Jan 2014

Allen & Overy LLP has advised Link Market Services (Link) in connection with the (not yet completed) acquisition of registrar services GmbH, based in Eschborn near Frankfurt, from Deutsche Bank.

registrar services is part of Deutsche Bank’s Global Transaction Banking division. The company is a pioneer in share registry services in Germany and has long-standing relationships with large cap companies like Deutsche Bank.

Clifford Chance advises Development Bank of Japan on investment in UK Offshore Wind Farms

17 Jan 2014

Clifford Chance has advised the Development Bank of Japan Inc. ("DBJ") on an agreement with Marubeni Corporation ("Marubeni") for co-investment into the Gunfleet Sands 1 & 2 offshore wind farms in the United Kingdom. The agreement was signed in December 2013.

When the transaction is completed, Marubeni and DBJ will each have a 24.95% ownership share in the 172 MW Gunfleet Sands project, located about 7km off the Essex coast of the United Kingdom. DONG Energy retains its 50.1% share and will continue as operator of the wind farms.

Freshfields advises on US$748m China Oilfield Services share placing

17 Jan 2014

Freshfields Bruckhaus Deringer has advised a consortium of underwriters on a placement of H shares by China Oilfield Services Limited (COSL). COSL will raise around HK$5,819m (US$748m) through the placing of an aggregate of 276,272,000 new H shares.

Freshfields advised the underwriters, including CICC, Credit Suisse, JP Morgan, Goldman Sachs and Morgan Stanley, on both the Hong Kong and US law aspects of the placing.

The Freshfields team was led by China chairman Teresa Ko, corporate partner Richard Wang and US corporate partner Calvin Lai.

Sheffield Manufacturer Secures Funding With Support From Irwin Mitchell

16 Jan 2014

Based at Smithywood Business Park in Sheffield, EMSc specialises in manufacturing energy saving devices for a range of clients including Premier hotels, the Whitbread Group and Asda.

Following the latest investment, the business is looking to capitalise on domestic demand, as well as that from overseas-based companies. These currently include companies such as the Investec Bank in South Africa.

EMSc employs over 100 people and has a turnover of £12.8m.

Field Fisher Waterhouse advises Deutsche Börse on the acquisition of enterprise software firm Impendium Systems

16 Jan 2014

Field Fisher Waterhouse has advised Deutsche Börse Market Data + Services on its acquisition of enterprise software firm Impendium Systems.  The acquisition was completed on 10 January 2014 for an amount in the single digit million euro range.  The deal represents an important step in Deutsche Börse’s growth strategy of integrating technology and data offerings to better serve client needs.

Ashurst advises Barclays on their joint bespoke lending solution with BlueBay Asset Management's Direct Lending Fund

15 Jan 2014

Ashurst has advised Barclays on the documentation supporting their unique lending proposition with BlueBay Asset Management's Direct Lending Fund. Barclays and BlueBay have collaborated to offer this solution to medium-sized enterprises in the UK in specific deal situations. They are offering single "unitranche" loans to finance UK financial sponsor-backed mid-market companies. This initiative will provide unitranche loans of up to £120 million, alongside which Barclays can provide other banking services and will be complementary to Barclays' and the Fund's existing lending activities.

Ashurst advises Bank of Ireland on the prolongation and extension of a loan for Kalle Group

13 Jan 2014

Ashurst advised The Governor and Company of the Bank of Ireland ('Bank of Ireland') on the prolongation and extension of a loan granted in 2009 for Kalle GmbH. Kalle is one of the world leaders in the production of casings for processed meat products out of viscose, polymer or textile.

The Ashurst team was led by banking partner Dr Stephan Kock. He was supported by counsel Miriam Petri, associate Axel Walch and transaction manager Dominique Blaurock. Partner Heiko Penndorf and associate Felix Krüger (all Frankfurt) advised on the tax aspects of the transaction.