The entire fleet of Stuttgart’s rapid railway S-Bahn will be converted to automatic train operation (ATO) over the next few years. Verband Region Stuttgart is ordering a total of 58 additional vehicles from DB Regio.
Hamburg – Following a bidding process lasting several months and attracting interest from both the private and public sector, the state government of Lower Saxony has decided to continue negotiations with the German Savings Banks Association (DSGV) and the other owners of NORD/LB regarding an agreement on joint capital strengthening and realignment of NORD/LB. On 28 January 2019, DSGV’s governing bodies also decided to enter into a related agreement with the current owners of the bank on joint capital strengthening and realignment of NORD/LB.
The Technology and Private Equity teams advised Webroot in its definitive agreement to be acquired by Carbonite for approximately $618.5 million. Carbonite will fund the transaction with existing cash on hand and funds secured under a new credit facility. The transaction is expected to be immediately accretive on an earnings and cash flow basis, following the close of the transaction which is expected in the first quarter of 2019.
Orrick Paris advised a consortium consisting of China State Construction Engineering and Egis Road Operation in the negotiation and conclusion of the national road concession contract, n°1 (Pointe Noire – Brazzaville), n°1 bis (Brazzaville – Mindouli) and n°2 (Brazzaville – Ouesso) in the Republic of the Congo.
On February 4, 2019, Metalla Royalty & Streaming Ltd. (TSXV: MTA) (OTCQX: MTAFF) (FRANKFURT: X9CP) announced that it had entered into a purchase and sale agreement to acquire from a third party a 1.0% NSR royalty on Atlantic Gold Corporation’s (TSXV: AGB) Fifteen Mile Stream project for US$4 million. The purchase price will be satisfied by an upfront payment of $2.2 million in cash and 2,619,000 common shares of Metalla.
International law firm Ashurst advised Petrochemical Industries Company K.S.C. (PIC) on definitive agreements with the Calgary-based transport and midstream provider Pembina Pipeline Corporation (Pembina) for the construction of a 550,000 metric tonnes per annum integrated propane dehydrogenation plant and polypropylene upgrading facility (Facilities) to be strategically located in Sturgeon County, Alberta, Canada (Project). The Project is being developed by Canada Kuwait Petrochemical Corporation (CKPC), a 50/50 joint venture between PIC and Pembina.
Shearman & Sterling advised Nexans on its €400 million Negotiable European Commercial Paper program- NEU CP.
The NEU CP will be domiciled with CACEIS Corporate Trust, as domiciliary agent for the program. The NEU CP will be placed mainly through financial intermediaries: BNP Paribas, Crédit Agricole Corporate and Investment Bank, Crédit Industriel et Commercial, Natixis and Société Générale.