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M&A: Seller's Counsel

Corporate team completes Hyder Consulting's £300million takeover in cross-border bidding war

04 Nov 2014

Wragge Lawrence Graham & Co's corporate team has advised main market client Hyder Consulting plc on its £300 million recommended takeover by Dutch peer ARCADIS.  The takeover - effected by way of a scheme of arrangement - saw two different companies vying to buy the multinational design and engineering consultancy company, renowned for its work on some of the world's most iconic structures and buildings.

Baker & McKenzie Advises Clariant on the Sale of Energy Storage to Johnson Matthey

04 Nov 2014

Baker & McKenzie advised Clariant on the sale of its Energy Storage business to Johnson Matthey Plc. The purchase price of USD75 million is payable upon completion of the transaction expected in early 2015.

Clariant's Energy Storage business is the world's largest producer of hydrothermal lithium iron phosphate (LFP). The lithium ion cathode material is used in electric vehicles and in stationary battery applications.

P+P advised the insolvency trustee of Technische Glaswerke Ilmenau

03 Nov 2014

Kavalier has acquired the insolvent Technische Glaswerke Ilmenau GmbH (TGI). A respective purchase contract was notarized upon approval by TGI's committee of creditors on October 23, 2014.

Shortly before, on October 15, 2014, a contract was concluded on the sale of the business unit 'Technical Sight Glass' ("Technische Schaugläser") to the company Auer Lighting GmbH in Bad Gandersheim. TGI has been involved in insolvency proceedings since May 9, 2014 under the direction of the insolvency trustee and attorney Klaus Siemon.

Wiersholm assisted Hurtigruten ASA

03 Nov 2014

Hurtigruten ASA has entered into a transaction agreement with Silk Bidco AS regarding launch of a voluntary offer to acquire all the shares in Hurtigruten. The offer price values the total share capital of Hurtigruten at about NOK 2,940 million. Wiersholm has assisted Hurtigruten in the process.

Wiersholm's team was headed by partner Simen Mejlaender.

TASC to Be Acquired by Engility

31 Oct 2014

Simpson Thacher is representing TASC, Inc., a portfolio company of KKR and General Atlantic, in connection with its proposed sale to Engility Holdings, Inc. (NYSE: EGL) in an all-stock transaction valued at $1.1 billion, including the assumption of net debt.  Upon consummation of the transaction, TASC’s stockholders will own approximately 51% of the combined company.  The transaction, which is expected to close in the first quarter of 2015, is subject to shareholder and regulatory approval and other customary closing conditions.

Kirkland Advises GTCR in Acquisition of Portfolio Company Devicor Medical Products by Danaher Corporation

31 Oct 2014

Kirkland & Ellis LLP represented private equity firm GTCR, which announced today that its portfolio company Devicor Medical Products has signed an agreement to be acquired by Danaher Corporation’s (NYSE: DHR) Leica Biosystems, a leading provider of anatomical pathology solutions and automation used to advance cancer diagnostics. Terms of the transaction were not disclosed.

The Kirkland team includes corporate partners Sanford Perl, Michael Weed and Seth Pritikin and associate Adam Israelov.

Olswang advises Graphite Capital on sale of The Third Space

31 Oct 2014

Olswang has advised leading private equity institution Graphite Capital on the sale of The Third Space, one of London's premier health and fitness club chains, to Encore Capital, which also owns the Reebok Sports Club, situated in Canary Wharf.

Olswang is a long-standing adviser to Graphite and worked on the management buy-out of The Third Space in 2007. Originally based in Soho, the high-end gym chain has 5,000 members on its books and opened its second branch in Marylebone in 2011.

Vinge Advises Atria In Connection With Sale Of Falbygdens Ost

30 Oct 2014

Vinge has advised Atria Sverige in connection with the sale of Falbygdens Ost to Arla Foods. Falbygdens Ost does not have its own cheese production facilities but, rather, buys cheese from other producers. Falbygdens Ost has approximately 100 employees and a turnover of approximately SEK 470 million. The transaction is subject to approval by the Swedish Competition Authority.

Vinge Advises Litorina In Connection With Sale Of Textilia

30 Oct 2014

Vinge has advised Litorina in connection with the sale of its shareholding in Textilia to the investment fund Accent Equity. Textilia is Sweden’s leading supplier of textile services to the healthcare sector. Members of management and the board of directors will retain their shares and thus continue as major shareholders following completion of the transaction. Completion of the transaction is conditional upon, among other things, approval by the Swedish Competition Authority. Closing is expected to occur at the end of 2014.