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M&A: Seller's Counsel

DLA Piper advises Weidenhammer Packaging Group on share sale

08 Sep 2014

DLA Piper has advised the shareholders of Weidenhammer Packaging Group on sale of all of their shares in Weidenhammer Packaging Group to US-listed Sonoco Products Company. The purchase price amounts to €286 million in cash, subject to net debt and working capital adjustments. The transaction is still pending regulatory approval by the relevant cartel offices.

Sonoco intends to create a global leadership within the rigid paper packaging through this transaction and to significantly increase its global annual sales, particularly within the European market.

Jobs Saved At Unisurf Engineering

05 Sep 2014

Twelve jobs have been saved at Unisurf Engineering Ltd after the Bradford-based business was bought out of Administration by WM Hardill Ltd of Batley.

Unisurf Engineering, established in 1972, specialises in the manufacture, production and renovation of components used in a range of sectors from Formula 1 to newspapers and sewage treatment.

Philip Deyes and Sean Williams of Leonard Curtis Business Solutions Group were the appointed Administrators.  The Administrators affected a sale of the business and assets on 13 August 2014.

Ashurst advises ICA Gruppen on the sale of Forma Publishing Group

04 Sep 2014

Ashurst is advising ICA Gruppen AB, the leading grocery retail company in Sweden and the Nordic region, in connection with the sale of Forma Publishing Group, a magazine publishing business, to the Danish media company Egmont. In a separate transaction, the business-o-business part of Forma will be sold to ICA-handlarnas Fobund, the association of ICA-etailers.

The sale is subject to approval from the Swedish Competition Authority and completion is expected to take place in the beginning of October 2014.

Clifford Chance advises Euro-Druckservice on the sale of its subsidiary Holzmann Druck

04 Sep 2014

Clifford Chance has advised Euro-Druckservices GmbH, Passau (Germany), on the sale of its subsidiary Holzmann Druck GmbH & Co. KG, Bad Wörishofen (Germany), to the long-standing management of Holzmann Druck GmbH & Co. KG. The sale forms part of a strategy to focus on defined core areas in Middle and Eastern Europe, which the Euro-Druckservice Group is implementing after its successful restructuring in spring 2013.

Macfarlanes advises office2office plc on recommended offer

01 Sep 2014

Macfarlanes is advising office2office plc in connection with the recommended offer by EVO Business Supplies Limited, a company owned by funds managed by Endless LLP, to acquire the entire issued and to be issued share capital of office2office plc.

The transaction is to be effected by means of a scheme of arrangement and is subject to regulatory, shareholder and Court approval.

The Macfarlanes team is led by corporate M&A partner Howard Corney.

DLA Piper advises Mobo Tap on investment transaction with Changyou

01 Sep 2014

DLA Piper has advised MoboTap Inc. ("Mobo Tap"), a Cayman Islands company and the Chinese developer of the Dolphin Browser, on an investment transaction with Changyou.com Ltd. ("Changyou"), a leading developer and operator of online games, for nearly US$ 100 million.

MoboTap developed the popular Dolphin Browser, designed for the Android operating system and iOS, and was one of the first alternative browsers for the Android platform. Changyou is an important investor in the online sector in China and now operates some of the most popular online games in China.

Weil Advises Lone Star on Sale of Dusseldorfer Hypothekenbank

28 Aug 2014

The Frankfurt office of the international law firm Weil, Gotshal & Manges LLP advised US financial investor Lone Star on the sale of German Dusseldorfer Hypothekenbank AG to an international group of buyers around a fund, managed by Attestor Capital LLP, and Dr. Patrick Bettscheider. The parties agreed not to disclose the purchase price. The transaction is subject to clearance by the relevant regulatory authorities and is expected to close in the near future.

Time Inc.'s Sale of Grupo Expansion to Southern Cross

28 Aug 2014

On June 26, 2014, Time Inc. announced the sale of its Mexico-based operation, Grupo Expansion (“GEx”), to the Latin American private equity firm Southern Cross. GEx is Mexico’s second largest magazine publisher with 16 titles and 10 websites. Cravath represented Time Inc. in connection with this transaction, which closed on August 1, 2014. The terms of the transaction were not disclosed.

Latham & Watkins Advises Twitch Interactive in $970 Million Acquisition by Amazon.com

28 Aug 2014

Amazon.com, Inc. (NASDAQ: AMZN) has announced that it has reached an agreement to acquire Twitch Interactive, Inc., the leading live video platform for gamers. Under the terms of the agreement, which has been approved by Twitch’s shareholders, Amazon will acquire all of the outstanding shares of Twitch for approximately $970 million in cash, as adjusted for the assumption of options and other items. Subject to customary closing conditions, the acquisition is expected to close in the second half of 2014.