Clifford Chance has advised one of Asia's largest alternative investment management firms, PAG Asia Capital on its US$170 million investment as part of a combined US$225 million investment with existing investor Meridian Capital into Europe-based dairy and ice cream producer Food Union Group. The deal was led by Hong Kong partner Neeraj Budhwani, who was supported by associates Michelle Kwok and Xuling Ho.
Gleiss Lutz advised Beijing Jianguang Asset Management Co., Ltd (“JAC Capital”) and Wise Road Capital LTD (“Wise Road Capital”) on the takeover of the “Standard Products” division of NXP Semiconductors. The transaction is worth USD 2.75 billion. Now that it has been approved by the US Federal Trade Commission, the European Commission, the Chinese Ministry of Trade and other authorities, the transaction has now been executed as planned.
The board of directors of Lundin Petroleum AB (the “Lundin Petroleum”) has proposed to spin-off the company’s assets in Malaysia, France and the Netherlands into the newly formed company called International Petroleum Corporation (“IPC”) and to distribute the IPC shares to Lundin Petroleum’s shareholders by way of a Lex ASEA distribution.
The Goldman Sachs controlled entity New Energy Investment has sold 6.3% of its shares in Dong Energy equivalent to a total of 26,500,000 shares.
The shares have been sold to institutional investors in an accelerated bookbuild offering at a price of DKK 245 per share equaling gross proceeds of DKK 6.49 billion.
Upon the sale, New Energy Investment holds 29,444,742 shares in Dong Energy corresponding to 7% of the total share capital.
Sidley represented Sunac China Holdings Limited in its recent investment in three companies that are part of the Leshi Holding (Beijing) Co., Ltd. The aggregate RMB15 billion (approximately US$2.2 billion) investment consisted of an 8.61 percent equity interest in Leshi Internet Information & Technology Corp. (Beijing), a P.R.C.-listed company with a market capitalization of over RMB70 billion, as well as a 15 percent equity interest in Le Vision Pictures (Beijing) Co., Ltd. and an approximately 33.5 percent equity interest in Leshi Zhixin Electronic Technology (Tianjin) Co., Ltd.
Osborne Clarke has advised RM plc, a leading independent supplier of resources, IT software and IT services to the UK and international education market, on its proposed £56.5 million acquisition of the Education & Care business of Connect Group PLC.
The Class One transaction, which is conditional upon RM shareholder approval and the clearance of the UK Competition and Markets Authority, is expected to complete in the first half of 2017.
Osborne Clarke has advised Bigballs Media Limited (BBM) on an investment by Turner International.
The financing round saw Turner acquire a minority stake in the digital media sports company. Under its brand Copa90, BBM operates a digital network that produces football-related content for millions of fans in 55 countries.
The funding will be used to fuel BBM’s international expansion, content production and distribution while enhancing its data capabilities as it continues to grow.
Loyens & Loeff advised NavInfo Co., Ltd., a listed China-based company (together with Tencent Holdings Ltd., a listed China-based company and GIC Private Limited, a Singapore-based sovereign wealth fund of Government of Singapore), on the acquisition of a 10% stake in HERE, a US-based company.
Baker McKenzie advised a consortium led by Arab Bank Chairman Sabih al Masri, in acquiring a 20% stake in Arab Bank Group from Oger Middle East Holdings.
A consortium of investors bought a 20 percent stake in Arab Bank Group for $1.12 billion. These were led by Arab Bank Chairman Sabih al Masri, a businessman with stakes in other banks and the hotel industry, and owner of ASTRA, a diversified group of companies he founded with investments in a wide range of sectors that has 6,000 employees in 11 countries.
Eversheds Sutherland (International) LLP has advised Primary Capital Partners LLP (Primary) on their investment in Readypower Engineering Limited (Readypower).
Readypower is one of the foremost accredited suppliers of professionally-operated plant hire services to the regulated rail sector in England and Wales.