DLA Piper in Casablanca has assisted Moroccan Salts Limited (MSL) in its reverse takeover acquisition by Emmerson Plc, paving the way to its listing in the London Stock Exchange.
Emmerson acquired the entire share capital and voting rights of MSL for a total price of £10 million, satisfied by the issuance of 333.3 new ordinary shares of a nominal value of £0.03. The oversubscribed placing raised £6 million.
Watson Farley & Williams (“WFW”) has advised German financial investor HQ Equita (“HQ Equita”) on the acquisition of a majority share in Steindl-Group, which comprises packaging machine manufacturers FAWEMA GmbH (“FAWEMA”) and HDG Verpackungsmaschinen GmbH (“HDG”). Going forward, the group will operate as The Packing Group (“TPG”). The parties have agreed not to disclose further details of the transaction.
DAC Beachcroft's Corporate Finance team has advised on a number of recent acquisitions for Elysium Healthcare.
Elysium Healthcare launched in December 2016 and has since built a prominent portfolio of more than 50 sites across mental health care, neurological care, education, children’s services and private patient services.
The latest acquisitions include Anne House and Gregory House from Health & Social Care Partnership, as well as the recent acquisition of London Care Partnerships from its existing owners.
Davis Polk is advising Warburg Pincus and Baring Asia as substantial selling shareholders participating in the partial offer by Xinjiang Xintai Natural Gas Co., Ltd. to acquire a maximum of 50.5% issued share capital of AAG Energy Holdings Limited for a total consideration of up to approximately HK$3,174 million.
Fried Frank acted as counsel to Francisco Partners, through its portfolio company, Bomgar Corporation, in its acquisition of UK-based Avecto Limited, a market-leading endpoint privilege management provider. The combination of Bomgar and Avecto's solutions will enable companies to defend against privileged access threats and improve compliance, productivity, and performance.
The Fried Frank team was led by corporate partner Dan Oates and included corporate associate Matthew Martindale.
Kirkland & Ellis advises FNZ Group on the acquisition of European Bank for Financial Services GmbH (ebase) from comdirect bank AG. The transaction is still subject to the approval by the banking supervisory and antitrust authorities.
ebase is a wholly owned subsidiary of comdirect bank AG since 2009 and provides financial services with a focus on B2B direct banking. Based in Aschheim near Munich, ebase employs 265 staff and manages client assets of around EUR 31 billion.
Eversheds Sutherland advises Cynergy Capital Limited on significant acquisition
Eversheds Sutherland has advised Cynergy Capital Limited (Cynergy) on its proposed acquisition of Bank of Cyprus’ UK banking operations, comprising Bank of Cyprus UK Limited (BOC UK) and its subsidiary Bank of Cyprus Financial Services Limited, for a headline consideration of £103m (subject to customary purchase price adjustments).
The acquisition is expected to complete by the end of 2018 and is subject to approval by the regulators of both Bank of Cyprus and BOC UK.
TLT has advised the Flofuel Group, which offers a wide range of airport and marine refuelling equipment, on its acquisition of Fluid Transfer International, a leading global provider of aviation refuelling solutions.
The Flofuel Group is supported by SME private equity investor Rockpool Investments.
We advised Boston Scientific Corp. on the Irish aspects of its acquisition of Cryterion Medical, Inc. a private company developing a single-shot cryoablation platform for the treatment of atrial fibrillation, the most common form of heart arrhythmia. Cryterion Medical Ireland, Limited, a manufacturing subsidiary of Cryterion Medical, Inc., was included in the merger.
Boston Scientific has been an investor in Cryterion since its inception in 2016 and the transaction price for the approximately 65% remaining stake was $202 million in up-front cash.
Clifford Chance has advised Indorama Ventures Public Company Limited (IVL), one of the world's leading producers in the intermediate petrochemicals industry and a leading global manufacturer of wool yarns, on the proposed acquisition of Kordarna Plus, a.s., a Czech-based industrial textile producer and a leading European producer of tire cord fabrics. The sellers are a group of shareholders led by Jet Investment, a private equity investment company based in Brno, Czech Republic.