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M&A: Seller's Counsel

Advising CaixaBank and Hodefi in the sale of their equity share in Boursorama to Société Générale SA

07 Jul 2015

Advising CaixaBank and Hodefi in connection with the assignment of their equity stake in the share capital of Boursorama to Société Générale (representing 20.5% of the share capital and of the voting rights).

The price paid by Société Générale Group will be the same than the one offered to minority shareholders during last year’s simplified takeover offer and squeeze out procedure (retrait obligatoire), meaning €12 per share.

P+P advised the management of Verivox on the sale to ProSiebenSat.1 / 7Commerce

07 Jul 2015

The broadcasting group ProSiebenSat.1 is taking over 80 percent of the well-known comparison portal Verivox through its investment subsidiary 7Commerce. The seller is the private equity investor Oakley Capital. The purchase price is 170 million Euros.

In addition, there is a variable purchase price component, the amount of which is linked to the operative result of Verivox in 2015. It amounts to a maximum of 40 million Euros.

Setterwalls assists in the sale of Celsius

07 Jul 2015

Setterwalls assists the Gothenburg-based company ACMF Holding/Peoples Choice in the sale to the Finnish company Func Food Oy. Peoples Choice markets and distributes Celsius functional drinks in Sweden and the lifestile clothing brand Freddy. Peoples Choice has successfully established Celsius on the Swedish market and has presently a market share of 7 % for sports- and energy beverages.

Setterwalls assists in the sale of Eson Pac Group AB to Inter IKEA Investments AB

07 Jul 2015

Setterwalls assists Eson Pac Holding AB in the sale of the Swedish company Eson Pac Group AB to Inter IKEA Investments AB. Inter IKEA Investments AB has acquired PostNord AB:s shares equal to 48 percent of theforpackning shares and Eson Pac Holding AB will primarily remain as shareholder together with Inter IKEA Investments AB. Eson Pac Group AB has manufacturing plants in Sweden, Denmark and Switzerland and produces complete packaging solutions for the pharma industry (i.e. labels, packages and manuals). The transaction is scheduled to be completed in the end of August 2015.

Osborne Clarke advises Turtle Entertainment on its sale to Modern Times Group MTG AB (publ.)

07 Jul 2015

Osborne Clarke has advised Turtle Entertainment GmbH on its disposal to Modern Times Group MTG AB (publ.), an international entertainment group. Turtle Entertainment GmbH is the holding company for ESL - the world's largest e-sports company and global e-sports leader – and its international subsidiaries.

DLA Piper advises investor group around entrepreneur Klaus Gehrlicher on the sale of Gehrlicher Solar Services GmbH

03 Jul 2015

DLA Piper advised entrepreneur Klaus Gehrlicher, as well as six additional co-investors, on the sale of all shares in Gehrlicher Solar Services GmbH to GOLDBECK Solar GmbH.

Gehrlicher Solar Services GmbH was established at the beginning of 2014 in the course of a management buy-out of the service and maintenance division of Gehrlicher Solar AG; it has a managed portfolio of approximately 170 MW in existing facilities, which are spread throughout Europe.

Nabarro advises Phoenix IT on takeover offer delivering £135m valuation

03 Jul 2015

Nabarro has advised long-standing client, Phoenix IT Group, on a recommended offer by Daisy Intermediate Holdings and funds managed by Toscafund. The offer values Phoenix's share capital at approximately £135m.

Phoenix is an IT software and solutions company providing business continuity and other services to a broad range of customers. Daisy is a competitor to Phoenix which was taken private in 2014 by a consortium comprising Toscafund, Penta Capital and Matthew Riley.

Linklaters advises HgCapital on sale of SimonsVoss to Allegion

03 Jul 2015

Linklaters advised HgCapital on the sale of SimonsVoss Technologies AG to the American safety and security specialist Allegion. Incorporated in 1995, the company has become the European market and technology leader for digital locking and access control systems and generated sales of approximately 52 million euros in 2014. The purchase price amounts to approximately 210 million euros.

Baker & McKenzie advises Grundfos Group on sale of Hilge KG to GEA Group

02 Jul 2015

Baker & McKenzie advised the Danish pump manufacturer Grundfos on its sale of Hilge KG to the GEA Group. The transaction is subject to approval by the relevant antitrust authoritiesBaker & McKenzie advised Grundfos on all contract negotiations and on all legal aspects of the transaction. Part of the negotiations included the transition of long standing employees of Grundfos who were responsible for the Hilge production to the GEA Group. The Berdelle-Hilge Foundation will continue as minority owners of the Hilge KG also after the transaction.