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M&A: Seller's Counsel

Roschier represented Elektrobit in the sale of its Automotive business to Continental

22 May 2015

Roschier represented Elektrobit Corporation in the EUR 600 million sale of Elektrobit's Automotive business to Continental AG.
 
Following the sale, Elektrobit cancels the ongoing demerger process, and it will carry on the Wireless business within existing Elektrobit Corporation. As the Elektrobit brand will be included as a part of the transaction, Elektrobit will change its name to Bittium Corporation and will continue to be listed on Nasdaq Helsinki with the new name.

Ashurst advises Brewin Dolphin on the sale of Stocktrade

20 May 2015

Ashurst advised Brewin Dolphin Ltd, one of the largest British investment management and financial planning firms, on the sale of £4.6 billion of assets under administration of its execution-only stock broking business Stocktrade to Scottish fund manager, Alliance Trust Savings ("ATS").

Completion is conditional upon regulatory conditions customary for this type of transaction and is expected to occur in autumn 2015.

Macfarlanes advises on New Look

18 May 2015

Macfarlanes has advised the family trusts of Tom Singh, the founder of clothing retail chain New Look, on the sale of the business by Apax and Permira to Brait SE, an investment company, for an enterprise value of £1.9bn.

Brait will acquire 90% of New Look, with the Singh family trusts and current management remaining as shareholders and acquiring the remaining 10%.

The Macfarlanes team was led by corporate M&A partner Harry Coghill and private client consultant Robin Vos.

DLA PIPER ADVISES MEANTIME BREWING COMPANY ON ITS SALE TO SABMILLER

18 May 2015

DLA Piper has advised Meantime Brewing Company on its sale to SABMiller, which marks the latter's entry into the UK craft beer market.

The transaction includes Meantime’s retail sites, including the Tasting Rooms and the brewery shop in Greenwich, the Greenwich Union pub, pop-up Beerbox pub, and the Brewery Fresh tank beer concept, which is now in 26 pubs across London.

Founded in 2000, Meantime is an award-winning brewery based in London. The brewer is considered to be at the forefront of the modern craft beer movement in the UK.

Clifford Chance advises New Look on its £1.9bn sale to Brait

18 May 2015

Clifford Chance has advised fashion retailer New Look, together with the major shareholders Apax and Permira, on its sale to Brait, a South African investment house.

New Look has more than 800 stores worldwide. Brait has acquired a c90% stake for c£780m in a transaction for which values New Look at an enterprise value of c£1.9bn

The acquisition, primarily from private equity houses Apax and Permira, follows an 11-year ownership of the retailer.

King & Wood Mallesons advises Astorg Partners and the other sellers on the proposed sale of Gras Savoye to Willis

15 May 2015

King & Wood Mallesons advised Astorg Partners and the other sellers (including historical shareholder families) on the proposed sale of Gras Savoye to international brokerage company Willis.

In 2009, Astorg Partners acquired 33.3% of the capital of Gras Savoye alongside the family shareholder of the group, of the Management and Willis.

Herbert Smith Freehills advises Severn Trent on its sale of Water Purification Business to Industrie De Nora

15 May 2015

Herbert Smith Freehills has advised Severn Trent Plc, a FTSE-100 company which provides and treats water and waste water in the UK and internationally, on the sale of its water purification business to its joint venture partner Industrie De Nora SpA, a private multinational company headquartered in Italy.

Clifford Chance advises Menulog Group on AUD$855 million acquisition by Just Eat

14 May 2015

Clifford Chance has advised the shareholders of Menulog Group on its proposed acquisition by Just Eat, the UK-based online takeaway ordering company for a total cash consideration of AUD$855 million (US$680 million). The transaction is subject to regulatory approval from Australia's Foreign Investment Review Board.

Menulog Group is a market leader in the Australian and New Zealand takeaway markets, formed through the merger of two businesses, Menulog and EatNow, in January 2015. Clifford Chance also acted for Menulog on its merger with EatNow.

P+P advised Equistone on the sale of CU Chemie UETIKON Group

14 May 2015

Funds managed by Equistone Partners Europe have sold their majority shareholding in CU CHEMIE UETIKON to the French pharmaceuticals and chemicals company Novacap.

Equistone had acquired a majority shareholding in Uetikon as part of a management buy-out in November 2011 and has now concluded the exit. The parties agreed not to disclose the selling price. The transaction is still subject to approval by the antitrust authorities.

Hengeler Mueller advises RTL Group on sale of UFA Sports to Lagardère Unlimited Germany

13 May 2015

RTL Group decided to sell its subsidiary UFA Sports to Lagardère Unlimited Germany. UFA Sports is an internationally active sports marketing agency with its headquarters based in Hamburg. Lagardère Unlimited Germany is a subsidiary of Lagardère Unlimited, the sports and entertainment division of the French media group Lagardère. The acquisition of UFA Sports is still subject to approval of the German antitrust authorities.