PARIS (30 April 2018) – McDermott Will & Emery has represented Ardian, the private equity fund, in connection with the sale of its minority stake in Piz'Wich, the French frozen snacks manufacturer, to German group Frostkrone, one of the European leaders in frozen appetizers and snacks.

The McDermott team was led by Diana Hund (Partner) and included Louis Leroy on corporate aspects.


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Dechert LLP is advising Coveris Holdings S.A., a premier global packaging manufacturer, in connection with the sale of its Global Rigid Business (“Global Rigid”) to Lindsay Goldberg LLC for a total consideration of €700 million. The proposed sale is subject to customary regulatory approvals. 

Coveris is a portfolio company of Sun Capital Partners. Upon a completion of the proposed sale, Coveris will be fully focused on the flexibles markets with 25 strategically located manufacturing facilities across five countries and over 3,800 employees. 

Covington advised Elbit Systems Ltd. in its $120 million acquisition of the assets and operations of the privately owned U.S. company, Universal Avionics Systems.

Elbit Systems is an international high technology company engaged in a wide range of defense, homeland security, and commercial programs throughout the world.

Universal Avionics is a developer and manufacturer of commercial avionics systems for the retrofit and forward-fit market, for a wide range of fixed and rotary aircraft types.

Leading global law firm Baker McKenzie has advised Mövenpick Group ("Mövenpick") and Kingdom Holding Company ("Kingdom") on their sale of Mövenpick Hotels & Resorts to AccorHotels.

Mövenpick Hotels & Resorts is one of the world’s most reputable upscale hotel management companies with more than 20’000 rooms. It has plans to open an additional 42 hotels by 2021, adding a further 11,000 rooms to its portfolio.

Global law firm White & Case LLP has advised ETF Securities Limited on the sale of its specialist commodity Exchange Traded Product (ETP) US business to Aberdeen Standard Investments (ASI).

The acquired business has US$2.7 billion of assets under management, and it will further broaden ASI’s suite of investment capabilities. It also provides the platform and expertise to enable ASI to grow its existing Smart Beta capability by launching strategies within the acquired platforms.

Linklaters advises as UK Asset Resolution announces sale of Bradford & Bingley assets for £5.3 billion.

Following an open and competitive process, Bradford & Bingley plc (“B&B”), part of UK Asset Resolution Limited (“UKAR”), confirmed that it has agreed to sell two separate portfolios of buy-to-let and residential owner-occupied mortgages to an investor group led by Barclays Bank PLC for a total of £5.3 billion. Pursuant to the sale, the purchasers will acquire approximately 45,000 B&B and Mortgage Express mortgages.

Ashurst has advised Newcrest Mining Limited (Newcrest) on the sale of its 89.89% interest in the Bonikro gold mine in Cote d'Ivoire to a consortium consisting of subsidiaries of Forbes and Manhattan and Africa Finance Corporation in a deal worth US$81 million.

The consideration for the transaction comprises a total of US$72 million in cash consideration, and a net smelter royalty on the first 560,000 ounces of gold production from the next pushback of the Bonikro pit with an estimated value of US$9 million.

Slaughter and May is advising UK Asset Resolution Limited (UKAR) and Bradford & Bingley plc (B&B), working closely with the UKAR legal team, HM Treasury and Treasury Legal Advisers in relation to the disposal, by way of auction, of legacy owner occupied and buy-to-let mortgage assets originated by B&B, its subsidiary, Mortgage Express, GMAC-RFC Limited, Kensington Mortgage Company Limited and Close Brothers Limited to an investor group led by Barclays Bank PLC for a total consideration of £5.3bn.
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A team led by the two Düsseldorf-based partners Dr. Peter Vocke and Dr. Michael Sörgel advised Lange Objektgesellschaft mbH & Co. KG and KILA I GmbH & Co. KG on the sale of an inner-city logistics park comprising about 26,000 square meters of usable space in Essen. The buyer is Schroder Real Estate Kapitalverwaltungsgesellschaft mbH.
 

Orrick advised leading private equity investor EQT Mid Market on the sale of airborne training services business E.I.S. Aircraft Operations, part of E.I.S. Aircraft Group, to UK-based QinetiQ Group.

EQT Mid Market remains invested in E.I.S. Aircraft Group’s light-weight aviation cabin interior products and maintenance services business E.I.S. Aircraft Products & Services.