The Tokyo, Hong Kong, New York, and London offices of Debevoise & Plimpton has advised long term client American International Group (“AIG”) in the sale of its Japan life insurance business, AIG Fuji Life Insurance Company, Ltd. (AFLI), to FWD Group, the insurance arm of Pacific Century Group.
Charles Russell Speechlys acted for the shareholders of Mayfair Capital Investment Management Limited, a specialist UK real estate investment management company with around £1bn of assets under management, on its sale to Swiss Life.
The transaction completed on 1 November 2016 and brings together real estate teams in Switzerland, Germany, France and the UK creating a pan European business with some £55.3bn (CHF69.7bn) of real estate assets under management and administration.
A consortium consisting of IngaBritt och Arne Lundbergs Forskningsstiftelse, Postens Pensionsstiftelse 1996, Länsförsäkringar Kalmar län and P&E Persson AB acquires, through a transaction, the real estate properties where the Linnæus University’s expansion in Kalmar will take place.
LETT advised the sellers, Per Moesgaard and Indigo Invest AS, in connection with the sale of OnePark A/S to Per Lyngbak Nielsen.
OnePark A/S was founded in the summer of 2012 and has, since its foundation, gained large market shares of the parking-service market in Denmark. Today, OnePark A/S ranks among the leading providers of parking-facility management throughout Denmark.
In connection with the sale, Per Moesgaard retires from the general management of OnePark A/S but keeps a 10% ownership interest in the company.
Gleiss Lutz advised the British engineering group GKN plc on all German law aspects of the sale of its Stromag business. The purchaser is Altra Industrial Motion Corp. The purchase price is 184 million euros plus assumed debts of roughly 14 million euros.
Closing is subject to the satisfaction of consultation and notification duties vis-à-vis the works councils in France and Germany as well as approval by the German Federal Cartel Office, and is expected in the first quarter of 2017.
Simmons & Simmons has advised Dutch private equity investor Nimbus and ebu’s managing director Jörg Berger on the sale of ebu Umformtechnik GmbH to Chinese Xuzhou Metalforming Machine Group Co., Ltd (Xuduan).
Corporate/M&A partner Boris Schilmar commented: “The exceptional experience of our China Desk team in bridging cultural gaps in Sino-European SPA negotiations has clearly contributed to the success of this transaction."
Simmons & Simmons has advised Haus Cramer Group on the sale of its Welcome Hotels business to Terra Firma.
Travers Smith LLP has advised longstanding client Bridgepoint and other selling shareholders on the £130m sale of 1st Credit to European credit management services group Intrum Justitia. The transaction is subject only to regulatory consent and is expected to complete in the first quarter of 2017.
Simmons & Simmons advises Deutsche Beteiligungs AG and Klaus Grohmann on the sale of their equity interests in Grohmann Engineering GmbH to Tesla.
Grohmann Engineering is a pacesetter and a world leader in highly automated methods of manufacturing, including for electromobility, and has been owned by Klaus Grohmann (74.9%) and Deutsche Beteiligungs AG (25.1%).
Closing of the acquisition is conditional to the usual closing conditions (including merger clearance approval).
DLA Piper represented TubeMogul, an enterprise software company for digital branding that provides a video buying platform to advertisers, in its US$540 million sale to Adobe.
TubeMogul was founded in 2007 and is based in Emeryville, California. Mark Radcliffe and Peter Astiz, partners in DLA Piper's Silicon Valley office, have assisted TubeMogul and its founders at all stages of its life cycle, including its initial public offering in 2014.