RPC has acted for DMG Media, the consumer media arm of the Daily Mail and General Trust plc (DGMT), on the sale of its job board business, Jobsite to StepStone, an Axel Springer business. Deal sees the sale of Jobsite and completes the divestment of the Evenbase portfolio
Debevoise & Plimpton LLP is advising Protective Life Corporation (“Protective”) in a definitive agreement under which Dai-ichi Life Insurance Company, Limited (“Dai-ichi Life”) will acquire all outstanding shares of Protective for $70.00 per share in cash, or a total transaction value of approximately $5.7 billion.
DLA Piper advised Royal Bank of Scotland in its agreement to sell ALM Media, owned by RBS and Apax Partners, to Wasserstein & Co.
ALM, based in New York, has a portfolio of more than 350 print and legal and publications, including The American Lawyer, The National Law Journal, New York Law Journal, and Law.com.
The deal is expected to close in the third quarter of 2014.
The DLA Piper team was led by Sidney Burke in New York, with Sarah Coucher and Joseph McHale in London.
Baker & McKenzie advised Wicor Group on the sale of its Automotive & Industrial division. Buyer is the American Techniplas Group, which supplies mainly US American vehicle manufacturers with plastic components.
The acquisition was completed by means of a multinational share deal, which included all production, sales and service locations of the division sold. Baker & McKenzie advised on all legal matters in all concerned jurisdictions and accompanied the contract drafting and negotiations. The purchase price is not disclosed.
Allen & Overy has advised the Rwanda Development Board on its disposal of a 77% stake in the Development Bank of Rwanda (BRD) to Atlas Mara Co-Nvest Limited (Atlas Mara).
Paris/London : Subject to the satisfaction of certain regulatory and other conditions, Atlas Mara has agreed to acquire the Government of Rwanda’s 77% shareholding in the commercial arm of the Development Bank of Rwanda. This follows the announcement in April 2014 that the Company and Government had signed a Memorandum of Understanding to privatise BRD.
Eversheds has advised the sellers of Dutch aircraft fleet management company, AerData Group, on their sale of the group to Boeing. Based in the Netherlands, AerData provides integrated software solutions for lease management, fleet planning and technical services for aircraft and engine operators, lessors, and maintenance, repair and overhaul companies.
AerData has approximately 120 employees across the Netherlands, UK and Ireland. Managing directors, Mark Nieuwendijk and Paul van Tol, will continue to lead the business under Boeing’s ownership.
Simmons & Simmons has advised longstanding client Anite plc on the sale of Anite Travel Limited, for a total cash consideration of £45m to LDC, the UK mid-market private equity house.
LDC will acquire the entire share capital of Anite Travel Limited from Anite plc. The cash consideration is subject to customary completion adjustments and £1.7m will be held in escrow at completion. The disposal reflects Anite plc’s stated strategy to focus on its wireless test solutions business.
Lockton has acquired the specialist motorsport insurance broker, MIS Motorsport, based in Guiseley, near Leeds. Lockton and MIS Motorsport completed the transaction on 1 June 2014 after receiving regulatory approval. Irwin Mitchell Leeds Advise On The Deal
Law firm Eversheds has advised the shareholders of Aimia Foods (Holdings) Limited (“Aimia”) on the sale of the entire share capital of Aimia to Cott Ventures Limited, a subsidiary of Cott Corporation .
The purchase price includes the payment of approximately USD$79 million at closing, $33 million in deferred payments in September 2014, and on target earnout consideration of USD $21 million, with a minimum earnout consideration of USD $14 million and a maximum earnout consideration of USD$28 million.
Simpson Thacher is representing Sheridan Healthcare and its controlling equityholders, investment funds affiliated with Hellman & Friedman LLC, in connection with Sheridan Healthcare’s pending sale to AmSurg Corp. (NASDAQ: AMSG) in a cash and stock transaction valued at $2.35 billion. The transaction is subject to customary closing conditions and regulatory approvals and is expected to close in the third quarter of 2014.