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M&A: Seller's Counsel

Milbank Advises Terra Firma on Disposal of Aircraft Lessor AWAS to Dubai Aerospace Enterprise

28 Apr 2017

Milbank, Tweed, Hadley & McCloy LLP has advised Terra Firma on an agreement to sell AWAS, a Dublin-based aircraft lessor, alongside its co-investor Canada Pension Plan Investment Board (CPPIB), to Dubai Aerospace Enterprise.

AWAS is one of the world’s leading aircraft leasing companies with 87 airline customers in more than 45 countries and with owned aircraft assets of c. US$7.5 billion as at November 2016. The company holds a diversified portfolio of 214 owned aircraft and a pipeline of 23 new aircraft on order.

Ashurst advises Oxford Instruments on sale of Industrial Analysis business to Hitachi High-Technologies

27 Apr 2017

Ashurst is advising Oxford Instruments plc, a leading provider of high technology solutions, information and services for industry and research, on the disposal of its Industrial Analysis business to Hitachi High-Technologies Corporation for a consideration of £80 million on a cash and debt free basis.

Kirkland & Ellis Advises Nord Anglia Education Special Committee on US$4.3 Billion Going-Private Transaction

25 Apr 2017

Kirkland & Ellis is advising the Special Committee of the Board of Directors of NYSE-listed Nord Anglia Education Inc., a leading global premium schools organization, in connection with its acquisition by a consortium led by funds affiliated with Canada Pension Plan Investment Board and Baring Private Equity Asia. The merger agreement, which values the transaction at approximately US$4.3 billion, was announced on April 25, 2017. More information about the transaction is available here.

The Kirkland team is led by Hong Kong corporate partners Jesse Sheley and Xiaoxi Lin.

Debevoise Advises Adveq in its Sale to Schroders

25 Apr 2017

The London and New York offices of Debevoise & Plimpton LLP have advised Adveq Holding AG (Adveq) and its shareholders in its acquisition by Schroders.

The acquisition is expected to complete in the second half of 2017, subject to usual closing conditions, including regulatory approvals.

The acquisition of Adveq accelerates the growth of Schroders’ private assets business and complements existing capabilities and expertise in the real estate and infrastructure finance sectors.

Mills & Reeve advises on £1.4bn acquisition of Weetabix

25 Apr 2017

We have advised the management team of Weetabix on its sale to US firm Post Holdings for £1.4 billion.

The sale follows on from the £1.2 billion deal in 2012 which saw Chinese company Bright Food acquire a 60 per cent stake in the iconic breakfast brand. In 2015 the Hong Kong based investment firm Baring Private Equity House invested in the company. Mills & Reeve advised the Weetabix management team on both deals.

Frasers Property agrees to acquire Geneba Properties through a block trade and a public offer

25 Apr 2017

On 15 April Geneba Properties, its controlling shareholder Catalyst and Frasers Property announced their agreement on the acquisition of Geneba Properties.

Frasers will acquire Catalyst's 86% stake in Geneba through a block trade and launch a public offer for the remaining 14% free float depositary receipts. The purchase price for Catalyst's stake is EUR 315.9 million subject to certain adjustments. NautaDutilh advised Geneba and Catalyst on the transaction.

Sidley Advises Mid Europa Partners on Largest Healthcare Deal in Central Europe Since 2008

24 Apr 2017

Sidley represented Mid Europa Partners, the leading private equity investor in Central and South Eastern Europe, in connection with its sale of Alpha Medical, the leading provider of laboratory testing services in the Czech Republic and Slovakia, to Unilabs, an Apax Partners portfolio company. The transaction represents the largest healthcare transaction in Central Europe since 2008.

Slaughter and May advised Green Investment Bank on the sale of the Bank to the Macquarie Group

24 Apr 2017

Slaughter and May is advising UK Green Investment Bank plc (GIB) as part of its sale by the Government to the Macquarie Group (Macquarie) which has been agreed. The transaction has a value of approximately £2.3bn, which covers the amounts already invested by GIB in green infrastructure projects (such funding received from the Government) as well as commitments by GIB in respect of future funding to such projects.

Combination of Kuoni's GTA Business with Hotelbeds Group

21 Apr 2017

Kuoni Travel Group Ltd agreed to sell its GTD business division (GTA) to Hotelbeds Group. The shareholders of Kuoni Group, private equity fund EQT and the Kuoni und Hugentobler-Stiftung, will rollover a large portion of their indirect participation in GTA into the combined Hotelbeds/GTA business. The transaction is subject to customary closing conditions.

Lenz & Staehelin advises the Kuoni und Hugentobler-Stiftung in this transaction. The team comprises Rudolf Tschäni, Tino Gaberthüel and Alexander Wille.