Dentons advised Virgin Mobile Middle East and Africa (VMMEA), on the issuance of a US$30 million pre-IPO exchangeable senior secured sukuk, which was privately placed. The company plans to use the proceeds to fund growth and expansion.
Ward Yates advised as Jersey and BVI counsel, while VG acted as corporate services provider to the special purpose vehicle (SPV) issuer.
Hogan Lovells, in conjunction with several other law firms, secured a major Supreme Court victory today in Epic Systems Corp. v. Lewis, a landmark case preserving the right of employers to enter into individualized arbitration agreements with their employees. Ruling in favor of Hogan Lovells’ clients, the Court decisively rejected the assertion that class action waivers are forbidden by the National Labor Relations Act (NLRA).
Transaction represents the largest domestic European FinTech deal to date in 2018.
Worldline, European leader in the payments and transactional services industry, has announced its acquisition of SIX Payment Services, the payment services division of SIX, for a consideration of €2.303 billion (CHF 2.750 billion). The transaction represents the largest domestic European FinTech deal to date in 2018 and will create the leading and largest payments provider in Europe.
DLA Piper has advised StackPath, a leading secure edge services platform provider headquartered in Dallas, TX, on its cross-border acquisition of Server Density. StackPath is an investee company of Abry Partners, a private equity firm headquartered in Boston, Massachusetts.
The DLA Piper team included Southeast US Managing Partner Joe Alexander (Miami) and Atlanta-based partner Brian Gordon and was led by London-based partner Anu Balasubramanian and senior associate Simon Wright, with assistance from senior associate Nick Hinton and associate Suzanne Doogan.
Slaughter and May is advising Ascential plc on the proposed class 1 disposal of its Exhibitions and Events business to ITE Group plc for £300 million. The deal, announced on 15 May 2018, will complete in July 2018 pending satisfaction of conditions precedent, including shareholder approval and completion of ITE’s rights issue to fund the consideration.
Contacts
Corporate: Jeff Twentyman (partner), Eleanor Stubbs (associate)
Travers Smith LLP has advised Ascential on the sale of Ascential Exhibitions to ITE Group plc for £300 million, subject to shareholder approval.
The sale of Ascential's exhibitions business, which comprises Spring and Autumn Fair, Bett (including The Education Show), CWIEME, Pure, Glee and BVE, will allow these brands to prosper under the ownership of a specialised exhibitions organiser.
Travers Smith LLP has advised FE, a UK-based data, analytics and software vendor focussed on the UK and Australian retail investment funds markets, on the agreed investment to be made in it by HgCapital Trust Plc. Completion of the transaction is conditional upon regulatory approval.
Frankfurt/Main – Munich-based telephony provider NFON AG has made its debut on the public stage, with more than 4.1 million shares being placed with investors at EUR 12 per share during the IPO. The transaction generated proceeds of EUR 80.5 million, with the company receiving around EUR 50 million of this total. The company plans to use the funds to drive expansion of its business activities in Europe, as well as investing in research and development on new products. The initial listing on the Deutsche Börse’s Prime Standard took place on 11 May.
International law firm CMS is acting for main market listed ITE Group plc (“ITE”) on its proposed £300m (subject to adjustment) acquisition of Ascential plc’s Exhibitions Business. The consideration for the acquisition (including estimated costs) is intended to be funded through a £315m rights issue, which has been fully underwritten on a standby basis by Investec Bank plc. ITE is also seeking to increase its debt facilities by £50m with a view to reducing the amount required to be raised by the rights issue to £265m.
International legal business DWF has advised multinational technology outsourcer Equiniti on its acquisition of specialist shareholder engagement company Boudicca Proxy Limited.
The DWF Manchester corporate team provided legal services to Equiniti for the transaction which will expand the company's offering and enable their clients to access an expanded range of EQ Boardroom services.