Global law firm White & Case LLP has advised an investment consortium led by CVC Capital Partners, one of the world's leading private equity and investment advisory firms, and including PSP Investments and StepStone, on the acquisition from the Recordati family of the holding company that owns a 51.8 percent stake in the Italian pharmaceutical group Recordati.

The transaction is valued at approximately €3 billion (US$3.5 billion), representing a 100 percent equity value for Recordati of €5.86 billion, equivalent to €28.00 per share.

Leading global law firm Baker McKenzie advised UBS and the other syndicate banks on the refinancing of Implenia, Switzerland’s leading construction and construction services group headquartered in Dietlikon, Zurich. The financing consists of CHF 800 million credit facilities and was placed with a bank syndicate comprising 18 banks.

Ashurst advised UniCredit Bank AG (UniCredit) and HSBC Trinkaus & Burkhardt AG (HSBC) as coordinators of a banking consortium comprising eight banks in total in relation to the granting of a €750 million syndicated loan to Leoni AG.

Watson Farley & Williams (“WFW”) advised PB Vessels Holding Ltd, a wholly owned subsidiary of Hong Kong listed dry bulk shipping company Pacific Basin Shipping Ltd, on a US$325m secured revolving credit facility in relation to the refinancing of 50 vessels extended to it by a syndicate of international banks.

This long term facility will provide the company with access to committed funding to operate its handy-sized fleet with freedom, flexibility and ease.

Fried Frank acted as German counsel to funds managed by BlueBay Asset Management, one of Europe's largest specialist asset managers, as lender, in connection with a €77.5 million term loan facilities agreement for Naxicap's acquisition of Teufel, a leading European direct-to-consumer online brand for audio solutions, primarily active in German speaking countries. Naxicap is one of France's leading private equity companies operating in all sectors and focusing on leverage buyouts and growth capital.
 

Ropes & Gray has advised Altice Europe on the financing aspects of its sale of equity stakes in its telecommunication tower businesses in France and Portugal for a total cash consideration of €2.5bn.