Clifford Chance is advising the international energy company Statoil ASA (Statoil) on the disposal of Statoil's interest in the Shah Deniz field, off shore Azerbaijan, to the Malaysian oil and gas company PETRONAS. The transaction value is US$2.25 billion. Closing is expected in early 2015 following approvals from the relevant authorities.
King & Wood Mallesons has advised Fiducia & GAD IT AG (Fiducia & GAD) on the sale of shares in ELAXY Group to CREALOGIX Group. CREALOGIX acquired shares of two subsidiaries of Fiducia & GAD as part of a long-term cooperation.
From 1 January 2016, 80 percent of shares in ELAXY Financial Software and Solutions and 20 percent of shares in ELAXY Business Solutions and Services, will go over to CREALOGIX. Aside from this share transfer, the parties agreed on a long-term cooperation.
Reed Smith has advised Videoplaza on its acquisition by video streaming company Ooyala. Videoplaza operates one of the world’s largest premium video ad serving platforms, working for half of Europe’s broadcasters and several tier-one media owners in the Asia-Pacific region.
The cross-border Reed Smith team included: partner Michael Young and associate Andrew Clark in London; partner Yvan-Claude Pierre in New York; and partner Brian Miner in Philadelphia.
Michael Young, Reed Smith corporate partner, commented:
Irwin Mitchell has advised on the sale of Bolton-based Acodent Dental Laboratory to Swift Dental Laboratory for an undisclosed sum.
Manchester-based Swift is the UK’s largest privately-owned group of Dental laboratories and operates from six sites across the UK. Swift currently employs 170 people across the Group, and supplies a full range of crowns, bridges, implants, prosthetics and orthodontics to private and NHS Dental practices.
Eversheds has advised its long-standing client, AIM-quoted Daisy Group plc, a leading provider of IT services and unified communications to businesses, on a £494m buyout by a consortium of Matthew Riley (Daisy’s chief executive), Toscafund and Penta Capital. Mr Riley received advice from a separate Eversheds team on the terms of his equity investment.
An Eversheds team led by Danny Hall and Stephen Nash acted for Daisy and a separate Eversheds team led by Keith Froud and Mark Beardmore acted for Matthew Riley on his equity investment in the bidding vehicle.
White & Case LLP has advised Norilsk Nickel on the US$337 million sale of its operations in Africa to BCL Limited of Botswana.
The sale includes Norilsk Nickel’s 50 percent participation interest in the Nkomati Nickel and Chrome Mine in South Africa and 85 percent stake in Tati Nickel Mining Company in Botswana.
Paul Hastings LLP are representing bubba brands, inc. ("bubba"), a leading designer and marketer of durable beverage containers, in the sale of its business to Newell Rubbermaid (NYSE:NWL), a global marketer of consumer and commercial products.
bubba brands, inc. is a wholly owned subsidiary of In Zone Holdings, Inc. The price of the transaction is undisclosed.
M&A partner Reinaldo Pascual led the Paul Hastings team, which also included associates Erin East, Mariana Faircloth, and Tax partner Philip Marzetti
Irwin Mitchell has advised HD Sports on its sale to a US-based private investment group. The business, which made the figure skate blades used by every single medallist at the Winter Olympics in Sochi, has been acquired by the investor group of Robert Donahoe and Paul Harrity for a significant undisclosed sum.
For the past three years, operating as HD Sports NA, the business has been the exclusive distributor of MK and John Wilson ice skate blades in North America.
Taylor Wessing has advised its client Rutland Partners, the UK private equity fund, on the disposal of the CeDo group of companies to Straco Comm VA.
CeDo is one of Europe’s leading suppliers of household disposables, manufacturing both own-label and proprietary products such as refuse sacks, cling film and aluminium foil. It manufactures in UK, Poland and Vietnam and holds strong supply relationships with the majority of Europe’s largest supermarkets and discounters.
Ashurst has advised New Britain Palm Oil Limited (NBPOL) in a GBP£1.073 billion or PGK$4.319 billion (approximately A$1.97 billion) cash takeover offer for all shares by Sime Darby Plantation Sdn Bhd (Sime Darby), a wholly-owned subsidiary of Sime Darby Berhard.