Allen & Overy has advised GlaxoSmithKline (GSK) on the sale of its nutritional drinks brands Lucozade and Ribena, to Suntory Beverage and Food Ltd (Suntory), the Japanese consumer goods company, for GBP1.35bn.
It is expected that the transaction will be completed by the end of the year, subject to regulatory approvals.
CMS has advised Norwegian oil & gas giant Statoil on the UK aspects of its US$2.65 billion sale of interests in a number of its UK and Norwegian Continental Shelf assets to Austria’s OMV. Statoil’s in-house legal team had overall responsibility for the transaction and advised on all aspects of the Norwegian part of the deal.
Paul, Weiss client SL Green Realty Corp., a NYSE listed REIT and the largest owner of office space in Manhattan, completed the sale of 333 West 34th Street, a 350,000-square foot office building located between Eighth and Ninth Avenues, to American Realty Capital.
The Paul, Weiss team representing SL Green included real estate partner Peter Fisch.
International law firm DAC Beachcroft has advised an offshore investor client and its property manager, Arab Investments Limited, on the £94 million disposal of 40 Gracechurch Street in the City of London to Cornerstone Real Estate Advisers.
40 Gracechurch Street comprises 122,850 sq ft of Grade A office space across eight floors, as well as a restaurant on the ground and lower ground floors. It was developed in 2010 with Arab Investments, a longstanding client of DAC Beachcroft, acting as project manager.
Global law firm Eversheds has advised UK Asset Resolution (UKAR) on the £400m sale of unsecured personal loans to OneSavings Bank and Marlin Financial Group.
Following a competitive sales process, UKAR, the holding company for the government owned businesses of Bradford & Bingley plc (B&B) and Northern Rock (Asset Management) plc (NRAM), has sold NRAM's portfolio of unsecured personal loans.
Singapore: Leading international law firm Clifford Chance has advised HSBC Insurance (Singapore) Pte. Limited, a wholly-owned subsidiary of HSBC Holdings plc, on the sale of its group term life and employee benefits business in Singapore to AXA Life Insurance Singapore Private Limited and The Hongkong and Shanghai Banking Corporation Limited (HSBC), another wholly-owned subsidiary of HSBC Holdings plc, on the related distribution agreement.
On August 12, 2013, Unilever announced that it has signed an agreement for the sale of its Wish-Bone and Western dressings brands to Pinnacle Foods Inc. for a total cash consideration of approximately US$580 million, subject to regulatory approval. Cravath represented Unilever in connection with this transaction, which is expected to close later in the third quarter, or early in the fourth quarter, of 2013.
The Dentons team advising AIG/Lincoln was led by Stewart M. Middleman, Head of Cross-Border Transactions for Dentons’ European Real Estate Group. He was supported by a team of Dentons cross-border property lawyers and worked with Domenico Tulli and his team at the law firm of Gianni, Origoni, Grippo, Cappelli & Partners, a leading Italian law firm, in advising AIG/Lincoln. Stewart commented: "We are pleased to again support our long term client, AIG/Lincoln."