Simpson Thacher is representing Spotify in connection with its announced equity investment transactions with Tencent Holdings Limited (“Tencent”) and its subsidiary, Tencent Music Entertainment Group (“TME”). Following these transactions, Spotify will hold a minority stake in TME, and both Tencent and TME will hold minority stakes in Spotify.
Taylor Wessing has acted as legal advisor to the biopharmaceutical company Allecra Therapeutics in a further staged financing round. With this financing, Allecra Therapeutics primarily intends to carry out a Phase III study on the candidate drug AAI101, an antibiotic to combat multi-resistant bacteria which predominantly appear in hospitals.
Willkie represented UK-based fund manager Blue Water Energy LLP, which provides capital to growing and established companies in the international energy sector, in the global fundraising for its second private equity fund.
Willkie client Blue Water Energy LLP announced the final closing of Blue Water Energy Fund II, (BWE Fund II), with total commitments in excess of $1.1 billion, surpassing its target of $1 billion after securing further commitments from a number of new limited partners.
Creapaper GmbH, headquartered in Hennef, Germany and developer of sustainable raw material solutions for the paper industry by using grass instead of wood pulp in the paper production process, has closed its first substantial financing round and received growth financing from eCAPITAL. Creapaper was advised by Bryan Cave’s M&A and venture capital team in Hamburg, led by Tonio Sadoni.
Leading international law firm Clifford Chance advised Kofu International Limited and Concord Greater China Limited, held by Taiwan-listed Ruentex Group, on their US$2.88 billion (HK$22.4 billion) sale of an aggregate 36.16% direct and indirect interest in Hong Kong-listed Sun Art Retail Group Limited, one of China's largest hypermarket retailers, to Taobao China Holding Limited, a subsidiary of Alibaba Group. The transaction completed on 7 December 2017.
Squire Patton Boggs in Leeds has advised Cairngorm Capital on its strategic partnership and investment in the building products ecommerce business Building Supplies Online Limited (BSO).
Cairngorm Capital is a specialist private investment firm providing equity capital and management expertise to leading mid-market growth companies in the UK, across the manufacturing, distribution and services industries.
Major national law firm, Mills & Reeve, has acted for leading technology investor, Mercia Technologies, on its investment into Warwick Audio Technologies
Mercia Technologies PLC, the national investment group focused on the funding and scaling of innovative technology businesses with high growth potential from the UK regions, has invested £1.9million as part of a £3.1million syndicated round into University of Warwick spinout, Warwick Audio Technologies.
Orrick advised content infrastructure company Contentful on its $28 million Series C financing round, led by U.S. investor General Catalyst Partners and with participation of existing investors Benchmark Capital, Balderton Capital and Point Nine Capital.
Contentful is the provider of a content management system (CMS) that makes the distribution of content across different platforms significantly easier. In addition to its headquarters in Berlin, this year Contentful opened an office in San Francisco. The rapidly growing company now employs more than 140 employees.
Gide advised Agence des Participations de l'État on the sale by the French State of 14 million Renault's shares, equivalent to 4.73% of Renault's share capital. This sale has been made through an institutional private placement by way of an accelerated bookbuilding.
Slaughter and May advised Naspers Limited (Naspers) on the increase of its limit to trade American depositary shares representing interests in the N ordinary shares of Naspers (the ADSs) on the Main Market of the London Stock Exchange (LSE). Up to 182,540,135 additional ADSs were admitted to the Official List of the Financial Conduct Authority and to trading on the LSE on 22 November 2017 and, following admission, Naspers is authorised to list and to trade up to 219,328,029 ADSs in total.