In a deal stretching across the US, England, Ireland and Australia, Herbert Smith Freehills has advised Xtralis Group Holdings Ltd (XGHL), which is majority owned by funds advised by Pacific Equity Partners (PEP) and Blum Capital Partners (Blum Capital), on their A$683 million (US$480 million) sale to Honeywell International Inc.
Stora Enso, SCA, Smurfit Kappa and Fiskeby Board have agreed to divest their ownership in IL Recycling, a Swedish recycled materials company, to Stena Metall. The transaction is subject to customary competition approvals.
Stora Enso, SCA, Smurfit Kappa and Fiskeby Board are advised by Mannheimer Swartling in the transaction. The firm’s team includes Isabella Ramsay, Jonas Lagerroos and Johan Grape (M&A), with Johan Carle, Jens Agö and Sofia Thelin advising on competition law matters.
Pegroco Invest AB (publ) divests its shareholdings in Priority Aero Maintenance (Scandinavia) AB in order to create Scandinavia’s leading independent aircraft maintenance provider. Following the transaction, Pegroco is the owner of 25 percent of the shares in a new group, which will operate under a new company name within short.
Advised ASR on the sale of ASR Vastgoed Ontwikkeling N.V. to Meijer Realty Partners (MRP). The sale of real estate development division fits within ASR's strategy to focus on insurance activities and real estate investment management. The transaction is expected to be completed in late April 2016.
Houthoff Buruma team included: Michiel Pannekoek , Johan Kasper , Lucas Louwerier
Simpson Thacher represents KKR in its proposed sale of SMCP, a French fashion group operating under the Sandro, Maje and Claudie Pierlot brands. On March 31, 2016, KKR announced the signing of an exclusivity agreement with Shandong Ruyi Technology Group in relation to the sale. The transaction remains subject to works council consultation and regulatory approvals. Following the sale, KKR is expected to retain a minority interest in SMCP.
Kirkland & Ellis is representing the group of sellers including Actera Group, the largest private equity firm dedicated to investments in Turkey, in connection with the sale of Mars Entertainment Group, Turkey’s biggest cinema chain, to an investment group led by South Korean cinema chain operator CJ CGV, at an enterprise value of USD 800 million.
Portigon AG (“Portigon”) transfers all shares in its service subsidiary, Portigon Financial Services GmbH (“PFS”), to Erste Abwicklungsanstalt (“EAA”). The IT service provider PFS manages the financial portfolio of EAA and currently employs some 550 people in Düsseldorf, New York and London.
The transfer of PFS to EAA is a further step towards winding down the former WestLB in accordance with the conditions imposed by the EU Commission and will secure the
Slaughter and May is advising Towry, and its major shareholder Palamon Capital Partners, on the sale of Towry to Tilney Bestinvest in a transaction which values Towry at £600 million. Tilney Bestinvest is owned by Permira funds and its employees.
The combination creates one of the leading UK wealth management firms offering both financial planning and investment management services, with responsibility for over £20 billion of assets.
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Allen & Overy has advised private equity firm The Riverside Company (“Riverside”), headquartered in New York and Cleveland, on the sale of the hematology system specialist Diatron to a subsidiary of Stratec Biomedical AG. The parties have agreed not to disclose the purchase price.
Diatron designs and manufactures system solutions for hematology applications, as well as related consumables. In the past financial year, the company generated sales equivalent to around 34 million euro.
Axcel IV buys 100% of the Lessor Group from the founding Fich family. Plesner has advised the Fich family and the Lessor Group for more than 35 years and has assisted the family in connection with the transaction.
The Lessor Group that specialises in IT-based payroll and human resources management systems through their proprietary brands, LESSOR and Danløn, holds a particularly strong position in the payroll system market especially for private undertakings.