On March 5, 2018, AXA announced that it has entered into an agreement to acquire 100% of XL Group Ltd, a leading global Property & Casualty commercial lines insurer and reinsurer, for a total consideration of 15.3 billion, to be fully paid in cash. Cravath is representing AXA in connection with the transaction.
On February 20, 2018, Yunfeng Fund signed the agreement with MicroPort Scientific Corporation ("MicroPort", HK:853), a medical company listed in Hong Kong, jointly acquiring cardiac rhythm management business (CRM business) of LivaNova PLC in the United Kingdom by funding MicroPort Cardiac Rhythm B.V. ("MicroPort Cardiac").
Willkie represented investor GoldenTree Asset Management in the transaction.
The German federal state owners of HSH Nordbank agreed to sell the bank for €1 billion to a consortium of private investors including independent affiliates of Cerberus European Investments, J. C. Flowers & Co., GoldenTree Asset Management, Centaurus Capital LP and BAWAG. The sale will transfer 94.9 percent of HSH to the investors and is the first successful privatization of a federal state bank in Germany.
Osborne Clarke has advised private equity firm, Alcuin Capital Partners, on the acquisition of Jigsaw24, a leading provider of IT solutions to the corporate, creative and education sectors. The sellers were NorthEdge Capital.
King & Wood Mallesons (KWM) advised the Commonwealth Government (Department of Finance) in relation to the purchase by the Commonwealth of the shareholdings of the States of NSW and Victoria in Snowy Hydro Limited (SHL).
SHL owns and operates the Snowy Mountains Hydro-Electric Scheme, and is presently owned 58% by NSW, 29% by Victoria, and 13% by the Commonwealth.
Shanghai & Sao Paulo- Paul Hastings, a leading global law firm, announced today that the firm advised Fosun Group (“Fosun”), China’s largest private-owned conglomerate, in its acquisition of Brazilian brokerage and wealth management firm Guide Investimentos. This marks Fosun’s third major acquisition in Brazil.
Global law firm White & Case LLP advised PFH on its acquisition of Uni Gasket Group.
PFH is an independent investment holding company which has been operating in Italy for more than 30 years. Uni Gasket is an Italian company active in the production of PTFE, rubber and silicone pipes and gaskets.
The transaction has been partially financed through a term and revolving facility agreement provided by Unione di Banche Italiane S.p.A. and Banco BPM S.p.A., which were also advised by White & Case.
International legal practice Osborne Clarke has advised UK lower mid-market investor, Tenzing Private Equity on its acquisition of CitNOW Video Limited, a leading global provider of video software solutions to the automotive industry.
Hogan Lovells advised TAV Airports (of which the ADP Group holds 46.12%) on the acquisition of 49% of ICF Antalya, the joint-venture managing the Antalya International Airport.
Antalya International Airport welcomed more than 26 million passengers in 2017 and is the gateway to Antalya area, one of the most popular and dynamic touristic destinations in Turkey, with 500km of coastal lines and more than 600.000 beds capacity.
TAV Airports and Fraport AG (which will still own 51% of the share capital once the deal is closed) will co-control ICF with equal rights.
DLA Piper has advised the Finnish company Framery, a manufacturer of soundproof office booths, and its shareholders in a transaction where the private equity investor Vaaka Partners’ Buyout Fund III has invested in Framery. After the investment, Vaaka Partners and its co-investors will own 60% of the company.
In 2017, Framery more than doubled its turnover from the previous year to EUR 40 million, of which more than 90 percent came from exports. Their products are exported to North America, Europe and Asia.