Hill Dickinson's corporate team has recently advised its client Emmerson plc (Emmerson) on its reverse takeover acquisition of BVI company, Moroccan Salts Limited (MSL), completion of which was announced on 4 June 2018. The acquisition included a significantly over-subscribed placing which raised gross proceeds of £6 million.
International law firm Ashurst advised a consortium led by UK-based fund manager Dalmore Capital, and comprising Fiera Infrastructure, Semperian PPP Investment Partners and Swiss Life Asset Managers on the agreed 100% acquisition of Cory Riverside Energy from Strategic Value Partners and its affiliates, EQT Credit, Commerzbank, and other shareholders.
Dechert LLP served as legal advisor to long-time client SK hynix Inc., a Korean memory chip maker, on its role in the acquisition of Japan-based Toshiba Corporation's NAND flash memory and solid-state drive business, now known as Toshiba Memory Corp. SK hynix was part of the purchasing consortium led by US private equity firm Bain Capital that also included Apple Inc. and Dell Technologies. Valued at US$18 billion, this transaction closed on June 1, 2018. According to Thomson Reuters, it's the fourth largest private equity-backed M&A deal since the financial crisis of 2008.
Global law firm Ropes & Gray has advised long-term client Bain Capital on the sale by Toshiba Corp. of its semiconductor business to a group led by Bain Capital and includes Apple Inc., Seagate, Kingston, Hoya, Dell Technologies Inc. and SK Hynix. The transaction, which closed on June 1, is valued at two trillion yen (approximately $18 billion). It is the largest leveraged buyout and private equity deal ever in Asia, and also among the most complex M&A transactions globally in 2017 and 2018.
The international law firm BEITEN BURKHARDT advised GUS Holding GmbH, Cologne on two transactions:
Acquisition of 100 % of the shares in GUS Finanz AG with registered offices in St. Gallen, Switzerland from Mr Peter Imthurn and
Acquisition of all partnership interests and shares in K+H Software GmbH & Co. KG, Germering/Munich from the partners Arne Claßen, Reinhard Hahn and Wolfgang Ruf.
The parties have agreed to keep the transaction volume confidential.
Ashurst is advising Stafford Capital on its potential hostile takeover of Phaunos Timber Fund Limited, the possible terms of which were announced today. Under the terms of the possible offer, Phaunos shareholders would be entitled to receive US$0.49 per Phaunos share, which implies a total equity value for Phaunos of approximately US$244.2 million (on a fully diluted basis).
Under UK takeover rules, Stafford Capital has until 5.00 p.m. on 3 July 2018 to announce a firm intention to make an offer for Phaunos.
DLA Piper has advised the Swedish company Dustin Group AB (publ), one of the leading Nordic re-sellers of IT products and additional services, on its acquisition of the Finnish IT solutions company, ITaito Oy.
ITaito designs, implements and delivers heavy-duty IT solutions and expert services, and with this acquisition, Dustin Group will strengthen its position in Finland.
The Nottingham corporate team at Freeths law firm, has recently completed the 22nd acquisition for The Reflex Group.
Reflex was established by a team led by Ian Kendall, and Freeths advised on the initial funding and the first acquisition in 2002. The Company now employs 700 staff on 18 sites across the UK and sells over £100m of packaging a year.
Freshfields Bruckhaus Deringer LLP (‘Freshfields’) has advised JAB, a global investment firm, on its proposed acquisition of Pret A Manger (‘Pret’) from Bridgepoint, an international private equity firm and Pret’s majority owner, and other minority shareholders. The transaction is subject to regulatory approvals and is expected to complete during the second half of 2018.
Roto, an international residential and industrial construction group, which is the technology and market leader for window and door hardware systems, acquires Dachfenster Keller GmbH.