A&O has advised BAE Systems plc, the corporate sponsor of the BAE Systems 2000 Pension Plan, on a transfer of longevity risk arising from the Pension Scheme to Legal & General Assurance Society (LGAS). This longevity swap is the single largest pensions insurance transaction in the UK to date.
International law firm Freshfields Bruckhaus Deringer worked alongside BT's legal function to advise BT Group, one of the world's leading communications services companies, on the acquisition of ESPN’s UK and Ireland television channels business. These primarily comprise the ESPN and ESPN America channels and their live sports rights portfolio, including the FA Cup, Clydesdale Bank Scottish Premier League, UEFA Europa League, and the German Bundesliga.
The transaction is expected to complete on July 31, 2013. Completion of the transaction is subject to regulatory clearance.
International legal practice Norton Rose has advised the shareholders of MOTION TM Vertriebs GmbH based in Troisdorf on the sale of a 51% interest of the company to mobilcom-debitel GmbH, a 100% subsidiary of freenet AG. The sale price remains confidential. The majority participation is still subject to the usual anti-trust approval.
The second largest French call centre has invested in Great Britain, by purchasing the English subsidiary HEROtsc from the Indian HERO group. One-third of the acquisition was financed by capital increases and the remainder by bank financing. As a result, Webhelp, set up in June 2000, continues to grow rapidly, with its workforce increasing from 10,500 to 16,500 employees and its call centres in continental Europe and Africa increasing from 24 to 33, including the addition of sites in Scotland, England and in India.
International law firm Freshfields Bruckhaus Deringer is advising BMG Rights Management, the music rights management group, in relation to the acquisitions of Sanctuary Records and Mute Records from Universal Music Group.
These acquisitions result from the European Commission's order for Universal Music to dispose of assets following its purchase of EMI Recorded Music. Completion is subject to regulatory clearances.
Field Fisher Waterhouse LLP has advised Azercosmos, Azerbaijan’s space agency and first satellite operator, on a project worth USD 230 million to successfully launch the Azerspace/Africasat 1a satellite.
The satellite blasted off from the Kourou Space Centre in French Guyana successfully on 7 February and is designed to provide high bandwidth communications capacity across Europe, Central Asia and Africa. The launch represented a new record for the weight of the satellites placed in orbit by an Ariane 5 launch vehicle.
Shoosmiths' Milton Keynes-based corporate team has helped secure a £2.5m investment for software company Celaton.
Celaton is a Milton Keynes-based business and the funding was received from the Business Growth Fund (BGF).
Shoosmiths acted for Celaton and its management team. The Shoosmiths team was led by corporate partner Sanjeev Sharma with assistance from corporate solicitor Claire Green and trainee solicitor Felicity Forward.
Olswang has advised long-standing client Warner Music Group Corp. (WMG), an Access Industries company, on its acquisition of Parlophone Label Group from Universal Music Group, a subsidiary of Vivendi, for £487 million (around $765 million) in an all-cash transaction.
A Travers Smith team led by Paris head, David Patient, has advised Sogeval, the leading French veterinary drug company, on its acquisition of Alstoe Animal Health, the independent UK supplier of animal healthcare products, for an undisclosed sum.
The acquisition of Alstoe Animal Health allows Sogeval to continue its international growth strategy in the UK market. The deal completed on 29 January.
DLA Piper has been advising the Gruner + Jahr publishing group on the acquisition of the Indian start-up Seventynine. Seventynine specializes in digital advertising for mobile devices. Its business is being purchased by the leading Indian digital marketing company NetworkPlay, in which Gruner + Jahr acquired a majority holding at the beginning of the year – also with the assistance of DLA Piper. Acquisition of the Seventynine business enables Gruner + Jahr to further reinforce its presence on the Indian advertising market.