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M&A: Acquiror's Counsel

Clifford Chance advises Sime Darby on US$1.74 billion cash offer for New Britain Palm Oil Limited

29 Oct 2014

Clifford Chance has advised Sime Darby Plantation Sdn Bhd (Sime Darby Plantation), a wholly-owned subsidiary of Sime Darby Berhad, on its proposed acquisition of New Britain Palm Oil Limited (NBPOL). The cash offer of £7.15 per share to acquire all the voting shares in NBPOL valuing the company at £1.07 billion (approx. US$1.74 billion), is subject to satisfaction of a number of conditions including EU merger clearance and a minimum acceptance level which would provide Sime Darby Plantation with at least 51% of NBPOL's voting shares.

North Nottinghamshire College Acquires Hospitality Training Firm

29 Oct 2014

North Nottinghamshire College (NNC) has acquired catering and hospitality specialist Charnwood Training Group for an undisclosed sum. Irwin Mitchell’s Corporate team advises on the deal
 
Charnwood, which is based in Kirkby-in-Ashfield, had entered into a company voluntary arrangement (CVA) with its creditors after falling into financial difficulties earlier this year. Following the deal, the business will trade under its own name and operate as a separate company within the NNC Group.
 

Oaktree to Acquire Interest in Hess Energy Trading Company

29 Oct 2014

Hess Energy Trading Company LLC (HETCO), a leading global marketer and trader of energy commodities, announced that funds managed by Paul, Weiss client Oaktree Capital Management L.P. will acquire an interest in the firm held by Hess Corporation. HETCO, which will be renamed, is led by founding partners Stephen Hendel and Stephen Semlitz and partner Guy Merison, all of whom will remain in their current positions. Following the close of the transaction, Oaktree will be the only outside investor in HETCO.

Cutrale Group and Safra Group's $1.3 Billion Acquisition of Chiquita

29 Oct 2014

Chiquita Brands International Inc. (“Chiquita”) and the Cutrale Group and the Safra Group announced a definitive merger agreement under which Cutrale-Safra has agreed to acquire all the outstanding common shares of Chiquita for $14.50 per share in cash, or a total value of approximately $1.3 billion, including the assumption of Chiquita’s net debt.

Progress Software Announces Intent to Acquire Telerik

28 Oct 2014

WilmerHale client Progress Software Corporation has entered into a definitive agreement to acquire privately held Telerik AD, a leading provider of application development tools, for $262.5 million. Telerik enables its 1.4 million strong developer community to create compelling user experiences across cloud, web, mobile and desktop applications. Telerik's revenue for the last twelve months was more than $60 million, with annual bookings growth of more than 20%.

Simpson Thacher Represents KKR and Its Portfolio Group, The United Group, in Acquisition of Tusmobil

28 Oct 2014

Simpson Thacher is representing United Group, a portfolio company of funds advised by Kohlberg Kravis Roberts & Co. L.P., in connection with its acquisition of Tusmobil, a mobile telecommunications operator in Slovenia, from Tus Holding. The transaction is expected to complete around year-end 2014, subject to antitrust and regulatory approvals.

The Simpson Thacher team included Alvaro Membrillera, Anaïs Fritz and Tom Merrifield (Corporate); David Vann and Étienne Renaudeau (Competition); and Meredith Jones (Tax).