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M&A: Seller's Counsel

Hengeler Mueller advises Bain Capital on acquisition of Wittur

30 Dec 2014

Triton and Capvis announced the sale of Wittur, one of the world's largest independent suppliers of elevator components and systems, to a fund managed by Bain Capital Europe LLC ("Bain Capital"). Bain Capital will be the sole owner of Wittur on the completion of the acquisition.

The Wittur Group is one of the world's largest independent suppliers of elevator components and systems with sales companies in 21 countries and 11 production sites. Wittur's core products include doors, safety components and gearless drives, as well as cars, slings and, counterweight frames.

Oerlikon sells its Segment Advanced Technologies to Evatec

30 Dec 2014

Oerlikon has signed an agreement to sell its Advanced Technologies Segment to Swiss-based Evatec AG. The transaction is expected to close during the first quarter of 2015. VISCHER acts as Oerlikon's Lead and Swiss Counsel.

The VISCHER Team, led by partner Felix W. Egli, includes Thomas Krizaj (M&A), Manuel Ulrich (M&A), Sebastian Huber (M&A), Klaus Neff (Merger Control), Stefan Kohler (IP) and Christoph Niederer (Tax).

Vinge represented Verdane Capital in the divestment of Wireless Maingate

30 Dec 2014

Vinge represented Verdane Capital VI in the divestment of Wireless Maingate AB (”Maingate”) to the NASDAQ-listed Canadian company Sierra Wireless, Inc. for a purchase price of USD 90 million.

Maingate is a pioner within the M2M field, i.e. mobile communication between devices, and has a market leading position in the Nordic market. Sierra Wireless is a world leader within the field of equipment and services for M2M communication.

Stena divests its shares in Paradise Tankers Corp.

30 Dec 2014

Stena Maritime AG has sold its shares in Paradise Tankers Corp. to its Greek joint venture partner Paradise Group Holdings Inc. Paradise Tankers Corp. has in connection therewith sold the vessels Aspropyrgos, Stena Chiron and Stena Chronos.

Stena is one of the world’s leading tanker shipping companies and controls a fleet of around 100 tankers. The Stena Sphere has more than 20,000 employees and a turnover of SEK 60 billion.

DWF advises on £20million sale of Waterfall

24 Dec 2014

DWF has advised the Sellers, including YFM Equity Partners and co-investors Neptune Calculus and Kaye Enterprises, and the management team on the £20million sale of Waterfall, a leading independent contract caterer, to private equity firm LDC.

Warrington-based Waterfall operates the brands Caterplus and Taylor Shaw, and has a turnover of c£60million with over 3,000 employees. Caterplus services residential and care homes across the country, as well as welfare charities and shelters, and Taylor Shaw operates in the education sector.

Hogan Lovells Acts for Kingfisher plc on Sale of Controlling Stake in B&Q China Business

24 Dec 2014

Kingfisher plc, Europe's leading home improvement retailer, today announced a binding agreement to sell a controlling 70% stake in its B&Q China business to Wumei Holdings Inc for a total cash consideration of £140 million. The transaction is conditional on MOFCOM (Ministry of Commerce) approval.

Setterwalls advisor to SveaReal in connection with the largest property transaction in Scandinavia 2014

23 Dec 2014

Starwood Capital Group and SveaReal Fastigheter have announced that the two parties have signed an agreement whereby an affiliate of Starwood plans to acquire SveaReal. SveaReal is a property company owning 79 properties in Sweden with approx. 838,000 square meters of gross leasable area. The transaction is conditional upon approval by a shareholders' meeting in SveaReal and the approval by the Swedish Competition Authority.

Funds Advised by Apax Partners Agree to Sell Orange Communications SA to NJJ Capital

23 Dec 2014

Funds advised by Apax Partners announced that they have agreed to sell Orange Communications SA to NJJ Capital, Xavier Niel's private holding company, for a total transaction value of CHF 2.8 billion (EUR 2.3 billion). The transaction is subject to customary regulatory approval and expected to be completed by the end of the first quarter of 2015.

Funds Advised by Apax Partners LLP Agree to Sell Orange Communications SA to NJJ Capital SAS

22 Dec 2014

Simpson Thacher is representing funds advised by Apax Partners LLP in connection with the pending sale of Orange Communications SA ("Orange") to NJJ Capital SAS, a company controlled by Xavier Niel, for a total transaction value of CHF 2.8 billion (€2.3 billion). Orange is one of the leading mobile operators in Switzerland. The transaction is subject to customary regulatory approval and is expected to close by the end of the first quarter 2015.