On March 7, 2019, Water Ways Technologies Inc. (formerly Sagittarius Capital Corporation) (TSXV: WWT) announced that it had closed its previously announced qualifying transaction with Irri-Al-Tal Ltd. ("IAT").
In addition, aggregate gross proceeds totalling approximately $3.1 million was raised in connection with the qualifying transaction via public offering of units of Water Ways and a concurrent private placement of units of IAT.
On March 4, 2019, LXRandCo, Inc. (TSX: LXR, LXR.WT), announced it had completed its previously announced non-brokered private placement to Toronto-based investment firm Gibraltar & Company, Inc., Gibraltar Brands, Inc. and Gibraltar Ventures Fund One Limited Partnership (which are insiders or affiliates of insiders of LXRandCo.) and Star Orange Enterprise Pte. Ltd., of an aggregate of 12,500,000 Class B Shares in the capital of the Company for gross proceeds of $5 million.
Clifford Chance Amsterdam acted as transaction counsel on the sale by majority shareholder J.C. Flowers & Co of approximately 11.7 million shares in the capital of Euronext listed financial institution NIBC Holding N.V. The sale was carried out through an accelerated bookbuild offering to institutional investors and settled on Friday 8 March 2019. The shares were sold at EUR 8.40 per share, resulting in gross proceeds of approx. EUR 98.3 million for the JC Flowers & Co affiliated funds selling the shares. In addition, Dutch investor Reggeborgh Invest B.V.
Linklaters has advised Vodafone as it raised £3.4bn in the largest mandatory convertible bond ever. The landmark transaction also represented the largest ever sterling convertible bond deal. Linklaters also advised Vodafone in relation to an associated hedging strategy, designed to give Vodafone the ability to mitigate any share price appreciation during the term of the bonds (should Vodafone decide to execute a share buyback).
International legal practice Osborne Clarke has advised the management team of the iconic 110 year old British Sports car manufacturer, Morgan Motor Company, on a majority stake investment by Investindustrial.
The investment is expected to complete in April 2019. The Morgan family will continue to act as stewards for the brand and retains a minority shareholding. Meanwhile, for the first time in its history, the management team and all employees will have a share of the business.
Sydney—Dentons has advised Canterbury Resources Limited (Canterbury Resources) on its initial public offering and listing on the Australian Stock Exchange (ASX).
An emerging resources company, Canterbury Resources generates and explores resources opportunities in Australia and the southwest Pacific, a region that hosts multiple large-scale (‘Tier 1’) copper and gold deposits. It currently holds a number of assets across the Pacific, including Australia, Papua New Guinea and Vanuatu.
Baker McKenzie recently advised West Knighton Limited ("West Knighton") in relation to the delisting and privatization of Cityneon Holdings Limited ("Cityneon") from the Singapore Exchange.
Davis Polk is advising A.P. Moller – Maersk A/S and Maersk Drilling on the proposed separation of A.P. Moller – Maersk’s offshore drilling activities through a demerger of Maersk Drilling. Pursuant to the demerger plan published today, shares in Maersk Drilling Holding A/S and its subsidiaries, as well as certain other assets and liabilities, will be contributed to a new company, The Drilling Company of 1972 A/S, that will issue new shares to the shareholders of A.P. Moller – Maersk.
Katherine Coates, William Winterton, Per Chilstrom, Chris Davies, Tessa Crook, Cameron Dwyer, Arielle Littles, Fergus Grady, Tracy Poon
London
KNT Holdings Limited (HKEX: 1025) (KNT Holdings) was successfully listed on the Main Board of the Stock Exchange of Hong Kong Limited. Sidley was the Hong Kong legal counsel to Innovax Capital Limited as sole sponsor and Innovax Securities Limited, Pacific Foundation Securities Limited, Quasar Securities Co., Limited, Guotai Junan Securities (Hong Kong) Limited, Central China International Capital Limited, ChaoShang Securities Limited, Fruit Tree Securities Limited, Merdeka Capital Limited and SSIF Securities Limited as underwriters in this transaction.