Ashurst is advising Dar Group on its acquisition of a 13.35% stake in the share capital of WorleyParsons Limited, the Australian Stock Exchange listed engineering, procurement and construction consultancy and advisory group, and on its indicative proposal to acquire 100% of the share capital submitted in November 2016.
Osborne Clarke has advised Mitie Group PLC on the disposal of the group’s UK social care division consisting of domiciliary care and homecare businesses, Enara Group Limited and Complete Care Holdings Limited to Apposite Capital LLP, the specialist healthcare investor, for a cash consideration of £2. The disposal forms part of Mitie’s previously announced strategy to withdraw from the domiciliary healthcare market.
Squire Patton Boggs has acted as co-counsel to an affiliate of Veritas Capital Fund Management LLC, a leading New York private equity fund, on the acquisition of the capital services business of Chicago Bridge & Iron Company NV (CB&I), an engineering, procurement and construction corporation. The US$755 million deal is expected to close in the second quarter of 2017. The capital services business will be renamed and operated as an independent company upon closing.
Vinge has advised Adapta Fastigheter in connection with its sale of half of the issued shares in Adapta Kongahälla AB, owner of the project Kongahälla Shopping, to the service pension company Alecta. The parties shall jointly develop and manage Kungälv’s new shopping centre with space for 100 stores, other businesses and service. The project is the largest ongoing enterprise investment in the Gothenburg region over the last ten years and includes approximately 37 000 square meters of lettable area. The shopping centre is planned to be opened in March 2019.
Simpson Thacher represented EQT in connection with the formation and raising of EQT Infrastructure III. The fund was significantly oversubscribed and held a first and final close at its hard cap of €4 billion after less than six months of fundraising, making it the fastest fundraise in EQT’s history to date.
On September 21, 2016, ABB signed an agreement with NKT Cables for the sale of ABB Group's global high-voltage cable system business with a total enterprise value of EUR 836 m. The transaction is expected to close in the first quarter of 2017.
Homburger advised ABB Asea Brown Boveri Ltd with respect to the Swiss law aspects of the transaction. The Homburger team was led by partner Claude Lambert (Corporate | M&A) and included partner Gregor Bühler (IP | IT), associates Kevin M. Hubacher and Karin Mattle (both Corporate | M&A) as well as Roman Perrig (IP | IT).
The 20% investment will allow the digital sports media company to open up new media channels and expand its workforce.
The corporate team from independent UK law firm Burges Salmon has advised Play Sports Group, the digital sports media company behind market-leading cycling brands Global Cycling Network (GCN) and Global Mountain Bike Network (GMBN), in securing investment from Discovery Communications the global media and entertainment group that acquired Eurosport in 2015.
Shoosmiths has advised Downing LLP (Downing) on the £3m investment secured by the family-owned luxury e-commerce business, Xupes, from Downing managed funds
Founded in 2009 by Joe and Frank McKenzie, Xupes restores and retails pre-owned luxury goods including watches, jewellery, handbags, art and antiques and is an accredited Cartier and Omega servicing centre.
Clifford Chance and Abuhimed Abuhimed Al-Sheikh Alhagbani Law Firm (AS&H), Clifford Chance's cooperation firm in Saudi Arabia, have advised National Titanium Dioxide Company (Cristal) in relation to the sale of its domestic and international titanium dioxide (TiO2) to Tronox Limited (Tronox), in return for US$1.673 billion cash and 24% of the shareholding in Tronox. Cristal is a subsidiary of Saudi Arabia's National Industrialization Co. (Tasnee), one of Saudi Arabia's largest industrial companies, and Tronox is an American chemical company.
Norton Rose Fulbright has advised DPI, a leading Africa-focused private equity firm with US$1.1 billion in assets under management, on the sale by its ADP I Fund of a 27.7% shareholding in CAL Bank, which is listed on the Ghana Stock Exchange.
Settlement of the trade is to be effected on 14 February 2017 and the trade is believed to represent the largest ever single trade on the Ghana Stock Exchange.