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M&A: Seller's Counsel

Eversheds advises leading life sciences software firm on its sale to US company

06 Oct 2015

Eversheds has advised US private equity firm Accel-KKR and the principal shareholders of Zinc Ahead on its sale to Veeva Systems for cash consideration of $130 million.

Zinc Ahead is a portfolio company of Accel-KKR, it is headquartered in Oxford, UK and has approximately 180 employees. Zinc is a leading provider of marketing compliance and approval software-as-a-service solutions to the life sciences industry. More than 50,000 marketing, medical and legal professionals currently use Zinc’s products across 120 clients in 170 countries.

Eversheds advised Halmesvaara Oy in a share transaction

06 Oct 2015

Eversheds advised the sellers in the sale of Halmesvaara Oy’s shares. The sellers were, either directly or through the companies in their ownership, Vesa Lipsanen, Turo Levänen, Ariel Nemes, Poju Zabludovicz, Timo Savimäki, Peder Biese, Lauri Ratia, Heikki Lamminaho, Petri Nikula, and Matti, Timo and Ulla Halmesvaara. The shares were acquired by Bravida, a Nordic operator in the field of building services engineering, which expanded its Finnish operations through the acquisition.

Slaughter and May is advising Darty Plc - approach from Groupe Fnac SA regarding possible offer for Darty

05 Oct 2015

Slaughter and May is advising Darty plc in relation to a proposal received from Groupe Fnac SA (Fnac) regarding an all-share offer by Fnac for Darty on the basis of 1 Fnac share for every 39 Darty shares held. The proposal currently values Darty at 101p per share based on the closing prices on 29 September 2015. In addition, Darty shareholders would be entitled to retain the final dividend of 2.625 cents payable on 13 November 2015 to those shareholders on the record as at 23 October 2015.

Herbert Smith Freehills advises Russia's largest gold producer on US$9 billion takeover approach

05 Oct 2015

Herbert Smith Freehills is advising Russia’s largest gold producer Polyus Gold International Limited on a US$9 billion unsolicited takeover offer by Sacturino Limited, a wholly owned subsidiary of Wandle Holdings Limited (an existing 40.2% shareholder) which is ultimately controlled by Said Kerimov.

London-based corporate partners Greg Mulley and Mike Flockhart are leading the Herbert Smith Freehills team, along with the firm's global head of M&A Stephen Wilkinson. They are being assisted by associates Toby Usher, Laura Stuckey and Sarah Ries-Coward.

Allen & Overy is advising Exponent Private Equity and Intermediate Capital Group on the GBP550m sale of Quorn Foods

05 Oct 2015

Exponent Private Equity (Exponent) today announce that they have agreed the sale of Quorn Foods to Philippines-based Monde Nissin for an enterprise value of GBP550 million.

The sale attracted a wide range of potential PE and corporate bidders from around the world, demonstrating growing interest for assets in the consumer sector, which has seen a buoyant quarter for M&A.

Allen & Overy is advising Exponent on this transaction, with a team led by Corporate Private Equity partner Gordon Milne and associate Tom Jokelson.

Charles Russell Speechlys advise Clive Christian, OBE on his sale of a majority stake in the Clive Christian Group

02 Oct 2015

Charles Russell Speechlys has advised Clive Christian, OBE on his sale of a majority stake in the Clive Christian Group to EME Capital LLP and a consortium made up of its co-investors, which include Sir Brian Souter, Ann Gloag and Jon Moulton.

Clive Christian, famously known for producing "the world's most expensive perfume", trades from department stores such as Harrods, Fortnum & Mason and Selfridges in London, and Saks Fifth Avenue in the US.

P+P advises the management on the sale of TGE Marine AG to Mitsui Engineering & Shipbuilding

01 Oct 2015

Caledonia Investments plc and other shareholders of TGE Marine AG signed a legally binding agreement on the sale of shares in TGE Marine AG (TGE) to MES Germany Beteiligungs GmbH (MES), a subsidiary of Mitsui Engineering & Shipbuilding Co. Ltd., Japan.

In the course of the transaction, TGE was rated at a three-digit million amount.

P+P advised the management of TGE on the transaction with the following team:

Benedikt Hohaus (partner, M&A/PE)
Tim Kaufhold (counsel, M&A/PE)
Nico Fischer (counsel, tax law)

AAK acquires 51 percent of the shares in Kamani Oil Industries

29 Sep 2015

AAK AB (publ) has acquired 51 percent of the shares of Kamani Oil Industries Pvt Ltd., one of the leading speciality and semi-speciality oils and fats companies in India.

Kamini had revenues of approximately SEK 1 billion last year, with an annual volume of 100,000 MT. The company operates out of a modern and strategically located production plant in Khopoli, which is situated 70 km southeast of Mumbai where also the company’s head office is located.