Cadwalader, Wickersham & Taft LLP, a leading law firm to global corporations and financial institutions, has successfully advised Ports Design Limited, a fashion garments manufacturer and retailer listed on the Hong Kong Stock Exchange, in connection with the conditional mandatory general cash offer made by Somerley Capital Limited on behalf of Bluestone Global Holdings Limited to acquire all of the issued shares of Ports Design Limited at a consideration of up to US$119 million (HK$923 million). 

Davis Polk is advising Shanda Games Limited (“Shanda Games”) in connection with its going-private acquisition for $3.55 per ordinary share or $7.10 per American Depository Share by a consortium consisting of Ningxia Yilida Capital Investment Limited Partnership, Ningxia Zhongyincashmere International Group Co., Ltd., Orient Hongtai (Hong Kong) Limited, Hao Ding International Limited and their respective affiliates.

King & Wood Mallesons has advised the management team of UK-based international women’s clothing and accessories chain, Phase Eight, on the acquisition of the company by The Foschini Group (TFG), a leading independent chain-store group in South Africa. The transaction values Phase Eight at £238 million.

Noerr has comprehensively advised the shareholders of audibene GmbH on the sale of all shares. The purchaser is the Sivantos Group, a majority-owned subsidiary of the Swedish private equity investor EQT.

Clifford Chance has advised Actis on the sale of Teknicast Sdn. Bhd. and its shareholding in PT Teknicast Indonesia by its portfolio company, Teknicast Holdings Sdn Bhd, to a leading investment management firm based in Asia.

Teknicast, based in Malaysia, is a leading manufacturer of complex, premium aluminium die-cast components for the flow control, textile machinery and specialised industrial automation sectors. With a 30 year history, the company exports to global blue chip customers in key locations across the globe.

A Travers Smith team led by senior partner Chris Hale and senior associate Adam Orr has advised management on the proposed sale of British Car Auction ("BCA"), Europe's largest used-vehicle marketplace, to Haversham Holdings ("Haversham"), the publicly listed investment vehicle, in a transaction valued at approximately £1.2 billion. Shareholders of BCA will receive £701 million in cash and £104 million in stock. The transaction is conditional on, amongst other things, Haversham's share placing becoming unconditional and is expected to close in early April.

CMS Kyiv is pleased to announce that it has successfully acted for Horizon Capital and Zubr Capital in relation to the sale of MTBank, the largest private bank in Belarus and one of the fastest growing banks in the country. Horizon Capital and Zubr Capital sold their stake to a local investor.

The CMS team was led by Graham Conlon, an English-qualified Partner, the Global Co-Head of International Private Equity and Head of our Corporate and M&A practice at CMS in Ukraine, and included Tetyana Dovgan and Olga Belyakova.

Herbert Smith Freehills' London and Madrid offices have teamed up to advise Telefónica SA on its agreement to sell O2 to Hutchison Whampoa, parent company of UK telecom operator Three, for an initial amount of £9.25 billion and an additional deferred payment of £1 billion to be paid once the cumulative cash flow of the combined company in the UK has reached an agreed threshold.

The combination of Three and UK will create the UK's largest mobile operator, with almost 33 million customers.

Olgar Group, Turkey's leading retailer of sports clothing and equipment, and Kuwait-based private equity investor Global Investment House agree to a partnership through share sale.

Squire Patton Boggs has advised AIM-listed client Accumuli plc on a recommended takeover by Manchester-based IT security company NCC Group plc, which was announced this morning. Accumuli is a leading, rapidly growing, UK-based independent specialist, with offices in Basingstoke, Cambridge and Leeds, that advises on IT security and risk management, including issues such as cybercrime, consumerisation of IT, and Big Data. The transaction sees Main Market-listed NCC pay approximately £55m for the Accumuli business in a cash and shares deal.