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M&A: Seller's Counsel

Dentons advises Adris grupa on €550 million sale of its tobacco business to British American Tobacco

02 Jun 2015

Dentons has advised Adris grupa in connection with sale of TDR and other entities within Adris Strategic Business Units Tobacco and Retail, including among others Istragrafika, Hrvatski duhani and the iNovine and Opresa retail chains, for a total enterprise value of €550 million. The transaction, which is subject to the approval of the Shareholders’ Assembly of Adris as well as customary competition clearances, is expected to close in September 2015.

Herbert Smith Freehills advises Toll Group on its A$8 billion scheme of arrangement with Japan Post

29 May 2015

Herbert Smith Freehills is pleased to have advised leading Australian transport and logistics provider Toll Group on its acquisition by Japan Post, in one of the largest ever public company acquisitions in Australia.

Toll Holdings Limited (Toll Group) is the Asia Pacific Region’s leading provider of transport and logistics, employing approximately 40,000 people across some 1,200 locations in more than 50 countries.

DLA Piper advises longtime client Virtustream in US$1.2 billion sale

29 May 2015

DLA Piper supported Virtustream, an enterprise-class cloud software and services provider, in its US$1.2 billion sale to EMC Corp., a provider of IT storage hardware solutions.

Virtustream was founded in 2009 and is based in Bethesda, Maryland. Eric Grossman, a partner in DLA Piper’s Corporate practice, has assisted Virtustream and its founders in the raising of US$129 million since its inception.

The Northern Virginia-based DLA Piper team representing Virtustream included Grossman and Catherine Le Regulski.

Travers Smith advises Carlyle on the £200m sale of The Foundry

29 May 2015

A Travers Smith team led by private equity partner Ian Shawyer has advised its long standing client The Carlyle Group on the sale of The Foundry for £200 million, in a secondary buy-out backed by Hg Capital.

The Travers Smith team advising The Carlyle Group also included corporate associates Joanna Roberts and Sarah Butler. Tax advice was provided by tax partner Simon Skinner and tax associate Richard Wild.  

Shoosmiths advises shareholders on the sale of BM TRADA Group

28 May 2015

Shoosmiths has advised the shareholders of BM TRADA Group on the sale of the company and its subsidiaries to London Stock Exchange listed company Exova Group Plc for approximately £22 million.

Shoosmiths' corporate partner Adam Dowdney led a team of corporate specialists, comprising solicitors Kiran Virk and Tom Potts. Additional specialist legal advice was also given by Tom Wilde (tax partner), Jamie Chambers (tax solicitor) Matthew Walker (real estate partner), Suzanne Burrell (pension partner) and Paula Rome (employment partner).

Clifford Chance advises IK Investment Partners on disposal of Vistra Group

27 May 2015

Clifford Chance has advised IK Investment Partners, through its IK 2007 Fund, on the disposal of Vistra Group, one of the world’s leading providers of company formations, trust, corporate and fund administration services to Baring Private Equity Asia. The deal was announced on 22 May 2015 and its completion is subject to regulatory approvals in a number of jurisdictions.

Herbert Smith Freehills advises PanAust on takeover bid from GRAM

27 May 2015

Herbert Smith Freehills is advising PanAust Limited (PanAust) on its takeover by Guangdong Rising Assets Management Co., Ltd (GRAM) which values PanAust at approximately A$1.2 billion.

Following the announcement of the off-market takeover bid for PanAust at A$1.71 cash per share on 30 March 2015, PanAust entered into a bid implementation agreement with GRAM under which GRAM agreed to increase the offer price for PanAust to A$1.85 cash per share.

White & Case Advises Aixtron on Takeover Bid by Grand Chip Investment

26 May 2015

Global law firm White & Case LLP has advised Aixtron SE (Aixtron) on the agreement that it will be taken over by Chinese financial investor Fujian Grand Chip Investment (Grand Chip).

Grand Chip plans a voluntary public takeover bid to acquire all outstanding shares in Aixtron, including common stock represented by American Depositary Shares. The transaction is valued at around €670 million and is subject to reaching an acceptance threshold of 60 percent and approval by regulatory authorities.

DLA Piper advises Daybrook Fisheries on its acquisition by Oceana Group

22 May 2015

DLA Piper represented Louisiana-based Daybrook Fisheries, Inc. in connection with the pending acquisition of Daybrook by Oceana Group Ltd., South Africa's largest fishing company, for approximately $382 million. The transaction is subject to direct approval from the Financial Surveillance Department of the South African Reserve Bank.