Taylor Wessing has advised onefinestay, the global high-end hospitality business, on its ground-breaking sale to AccorHotels. The deal, which is worth significantly in excess of £100m, sees Accor acquire onefinestay, with an agreement to invest a further £50m in the business to support the company’s ambitious plans to scale to 40 new markets over the next five years.
Davis Polk is advising Shanda Investment Holdings Limited (“Shanda”) in connection with its going-private acquisition of Ku6 Media Company Limited (“Ku6 Media”) for a cash consideration of $0.0108 per ordinary share or $1.08 per American Depository Share. The transaction is subject to customary closing conditions, including approval by the shareholders of Ku6 Media, and is expected to close in the second half of 2016. Shanda currently owns approximately 69.9% of Ku6 Media’s issued and outstanding shares (including shares represented by ADSs).
Osborne Clarke has advised Hitmeister GmbH on its sale to Real Group Holding GmbH. The Internet marketplace Hitmeister has a 10 million-strong product range with both new and used goods. In the past year the company generated sales of EUR 43 million.
Real Group Holding GmbH acquires 100 per cent of the shares of the associated company. The acquisition enables Real to further expand its performance and competency in the digital sector. The transaction is subject to approval from the German Federal Cartel Office.
White & Case LLP has advised Yandex, one of the largest European internet companies and the leading search provider in Russia, on its proposed acquisition from Krasnaya Roza 1875 Limited (KR1875) of a newly created entity that will own the central Moscow office complex that houses the group's Russian headquarters.
Freshfields Bruckhaus Deringer has advised the Hellenic Republic Asset Development Fund (HRADF), a wholly owned subsidiary of the Hellenic Republic, on the landmark privatisation of the Port of Piraeus.
After a competitive two-stage international tender process in a challenging political landscape, HRADF has sold a stake of 67% in the ATHEX-listed port operator Piraeus Port Authority S.A. (PPA) to the Chinese shipping and logistics services supplier COSCO (Hong Kong) Group Limited (COSCO) for €368.5 million.
Dechert LLP advised the community of heirs of Dieter Haufe, the founder of Germany-based Haufe GmbH & Co. KG, on the sale of 100% of its shares to the German industrial holding Stemas AG, headquartered in Munich.
Dechert LLP advised Lazada, the largest eCommerce platform in Southeast Asia, on its agreement with Alibaba Group under which Alibaba will acquire a majority stake in Lazada for a total consideration of more than US$1 billion.
In their joint press release, the companies stated that the transaction will immediately make Alibaba the leading eCommerce service provider in the region by enabling the company to further assist global businesses and local merchants in accessing the Southeast Asian consumer market.
DLA Piper represented Magnum Semiconductor, Inc., a Milpitas, California-based provider of products, tools and technologies for video and content creation, in its acquisition by GigPeak, Inc., a leading supplier of advanced semiconductor communications components.
On April 10, 2016, HNA Group and gategroup announced that they signed a transaction agreement pursuant to which HNA Group will launch an all-cash public tender offer for all publicly held registered shares of gategroup Holding AG. The tender offer will be made at CHF 53 per share. In addition, the offer allows pay-out of the ordinary dividend of CHF 0.30 to be resolved by the shareholders' meeting of gategroup. The offer values the company at approx. CHF 1.4 bn. The board of directors of gategroup recommends the offer. The offer is subject to customary conditions.
Dentons has successfully completed a sale for Minmetco Limited (Minmetco) on the company's 75 per cent majority interest in Metdist Trading Limited, the UK metals trading firm, to CCB International Securities Limited (CCB). The sale was completed on 6 April 2016. Upon completion Metdist Trading Limited has been renamed CCBI Metdist Global Commodities (UK) Limited (CCBI Metdist).