Dynamic market environment: Poland's largest IT enterprise sells German supplier for workplace management – Matrix42 AG plans expansion in growing markets
Munich – Luther advised the IT company Asseco Poland regarding the sale of Matrix42 AG – a supplier of IT workplace management solutions. Buyers are funds advised by the Munich investment company Emeram Capital Partners LLC.
The closing of the transaction took place on Wednesday October 14, 2015 following approval from the French Competition Authority granted on October 7, 2015.
The signing of an exclusive agreement was announced on June 22, 2015 and the transaction was completed on August 31, 2015, subject to customary closing conditions including regulatory approvals and information and consultation of employee representative bodies.
The transaction amounts to approximately EUR 220m.
Archer Daniels Midland Company (ADM) announced the sale of its global cocoa business to Singapore-based Olam International Limited for USD 1.2 billion. The agreement was signed and announced on 15 December 2014 and closed on 15 October 2015.
On October 7, 2015 Allianz SE (DAX: ALV) signed an agreement to sell Allianz Suisse Rückversicherungs-Gesellschaft AG to Glacier Reinsurance AG, a wholly owned Swiss subsidiary of Catalina Holdings (Bermuda) Ltd. The terms of the transaction have not been published.
Allianz Suisse Rückversicherungs-Gesellschaft AG is a Swiss regulated reinsurer. On June 30, 2015 - adjusted for pre-transaction dividends - Allianz Suisse Re had total assets of CHF 87 million, gross reserves of CHF 41 million, and shareholder equity of CHF 42 million.
A cross-border team at Herbert Smith Freehills, spanning the firm's London, Paris and Madrid offices, has advised Photobox Group on its proposed sale to Exponent Private Equity and Electra Partners.
Photobox Group, parent of such well-known brands as PhotoBox, Moonpig, PaperShaker, Sticky9, Hofmann, Posterjack and posterXXL, is Europe’s leading digital consumer service for personalised products and gifts, with market leading positions in the UK, France, Spain and Germany.
A Travers Smith team led by private equity partners Ian Shawyer and James Renahan have advised management on the buyout of the Lowell Group ("Lowell") by a newco backed by Permira funds ("Permira") from TDR Capital ("TDR") and its subsequent merger with GFKL, an existing portfolio company of Permira. As part of the transaction, management (along with Ontario Teachers' Pension Plan ("OTTP"), an existing investor in Lowell) will continue as shareholders in the combined business.
Dentons has advised Minmetco Limited on its sale of a 75 per cent majority interest in UK metals trading firm Metdist Trading Limited (Metdist) to China Construction Bank (CCB), the country's second largest state-owned lender. Minmetco has retained a 25 per cent interest in the company.
Taylor Wessing advised Tech City icon Unruly on its sale to News Corp, in a deal worth up to £114m.
Unruly joins Wahanda, Prozone and Alertme amongst many others who have recently been advised by Taylor Wessing through significant liquidity events.
Ashurst advised existing shareholders Kinnevik, Accel Partners, Baring Vostok Capital Partners, Northzone and the founders, Filip Engelbert and Jonas Nordlander, on the sale of shares in Avito, the leading online classifieds platform in Russia, to Naspers Ltd, the owner of Africa's biggest pay-TV service.
Ashurst advised Gala Coral, one of Europe's largest betting and gaming groups, on the £241 million sale of its Gala Bingo retail division to Caledonia Investments. The deal includes Gala's 130 bingo clubs across the UK, with 1.1 million active members, representing 38% of the UK's retail bingo market. The sale is conditional upon approval from the Gambling Commission and the net proceeds will be applied in partial redemption of Gala Coral's 2018 Senior Secured Notes.