International law firm Clifford Chance advised J.P. Morgan Securities plc acting in its capacity as provider of acquisition financing in relation to Vonovia SE’s tender offer to the shareholders of Swedish housing company Victoria Park AB.
Vonovia is the largest German housing company and would further extend its international expansion with the takeover.
Global law firm White & Case LLP has advised J.P. Morgan and BNP Paribas, as Joint Global Coordinators, on the offering of €600 million Senior Notes by France-based leading global engineering services company Novafives.
The transaction was divided in two tranches – €325 million 5.00% Fixed Rate Senior Secured Notes due 2025, and €275 million Floating Rate Senior Secured Notes due 2025.
Ashurst has advised Downer EDI Limited (Downer) and Spotless Group Holdings Limited (Spotless) on the refinancing of their syndicated corporate debt facilities to the value of A$1.3 billion, which compromised A$400 million for Downer and $900 million for Spotless.
The new facilities are available for general corporate purposes.
Freshfields Bruckhaus Deringer LLP (‘Freshfields’) has advised First Reserve, a leading global private equity investment firm exclusively focused on energy, on its agreement to sell M Group Services. The buyers are leading European private equity firm PAI Partners.
Gide has advised group Teyliom (investment holding controlled by Yerim Habib Sow), partner of NJJ (personal holding of Xavier Niel) and Axian Group (conglomerate owned by the Hiridjee family), on their acquisition of Tigo Sénégal, second telecoms operator in Senegal, from Millicom International Cellular S.A., an international telecommunications group listed on the Stockholm stock exchange. Gide also acted as counsel to the banks on the financing of this acquisition.
Global law firm White & Case LLP has advised Mediobanca – Banca di Credito Finanziario S.p.A., as original lender and agent, on a term loan facility granted to Kryalos SGR S.p.A., acting as managing company of the close-ended real estate alternative investment fund 'Tyre' – Fondo di Investimento Alternativo Immobiliare di Tipo Chiuso Riservato.
The term facility will be used to finance the acquisition of the HQ1 building in Milan, the headquarters of Pirelli & C. S.p.A.
Ashurst advised the Mandated Lead Arranger on the financing of the acquisition of the Prefere Resins Group (Prefere) by Silverfleet Capital. Seller of the leading manufacturer of phenolic resins is the German private equity firm Capiton AG and the Prefere management. The parties have agreed not to disclose the financial terms of the transaction.
Capiton acquired a majority stake in Prefere from international chemicals group Dynea Chemicals Oy in February 2014 as part of a buy-out.
Shearman & Sterling advised frostkrone Group, a portfolio company of Emeram Capital Partners and one of Europe’s leading manufacturers of frozen convenience food, on the financing of the acquisition of Piz’Wich, a specialist manufacturer of on-the-go frozen snack products. Sellers are, inter alia, Piz’Wich’s management as well as the France-based private equity investment company Ardian.
Hill Dickinson's corporate team has recently advised AIM-listed client Minds + Machines Group Limited (MMX) on its conditional acquisition of ICM Registry LLC (ICM).
Travers Smith LLP Corporate Partner Richard Spedding and Head of Finance Matthew Ayre have advised Robey Warshaw in its capacity as financial adviser to Comcast on its cash offer for Sky plc, formally announced on 25 April 2018.
The cash consideration payable under the offer is being financed by an unsecured bridge credit agreement of up to £16bn and an unsecured term loan credit agreement of up to £7bn. The transaction is the latest in a line of cash confirmation mandates for Travers Smith over the last 12 months.