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M&A: Seller's Counsel

Osborne Clarke advises on sale of West Coast Energy to GDF SUEZ

03 Apr 2014

International law firm, Osborne Clarke advised the shareholders of West Coast Energy Ltd (WCE) on its sale to GDF SUEZ, the French power group.

West Coast Energy has been operating in the UK for over 18 years and has successfully developed 650 MW of wind capacity, representing nine per cent of the installed onshore wind capacity in the UK. WCE has a significant pipeline of onshore wind development projects under evaluation with a capacity of 200 MW.

Partner and Head of the Energy Sector of Osborne Clarke, David Ferris led the team.

Freshfields advises Wing Hang Bank on proposed takeover offer from OCBC

02 Apr 2014

International law firm Freshfields Bruckhaus Deringer is advising Wing Hang Bank (Wing Hang) on the proposed takeover offer by Oversea-Chinese Banking Corporation (OCBC), which was jointly announced today by Wing Hang and OCBC.

The proposed offer has a total value of approximately US$5bn and remains subject to satisfaction of various regulatory approvals and other conditions.

Wing Hang is one of Hong Kong’s largest local banks and is listed on the Hong Kong Stock Exchange.

Environmental Engineering Announces Acquisition Of MSS Clean Technology

02 Apr 2014

York-based MSS Clean Technology has been purchased by Environmental Engineering, securing the jobs of all 12 staff including the management team.

MSS Clean Technology, established in 1982, specialises in the design, manufacture, installation and commissioning of laboratories, cleanrooms and controlled environments.  It operates worldwide and has a blue chip client base within the pharmaceutical, biotech, healthcare and electronics sectors.

Hogan Lovells Advises Investindustrial on Disposal of Avincis

01 Apr 2014

Hogan Lovells has advised Investindustrial Group on the disposal by Investindustrial Group and KKR of the Avincis Group to Babcock International Group PLC for an enterprise value of approximately €2 billion.

The Avincis Group is a leading supplier of mission-critical helicopter and fixed-wing services, and a leading supplier of critical offshore crew-change helicopter services to the oil and gas industry in the North Sea and Australia.

Allen & Overy advises Old Mutual plc on the sale of Skandia Germany and Skandia Austria

01 Apr 2014

Allen & Overy LLP has advised Old Mutual plc on the sale of Skandia Germany and Skandia Austria, part of Old Mutual Wealth, to a Cinven and Hannover Re acquisition vehicle (shortly to be renamed Heidelberger Leben Group). The transaction volume is €220 million in cash, plus interest to completion. The transaction is still subject to regulatory approvals and other customary conditions and is expected to complete by the end of the third quarter of 2014. With this sale, Old Mutual Wealth intends to simplify its operations in Europa and focus on a select number of core growth markets.

Hogan Lovells Advises on Carcraft MBO

01 Apr 2014

Hogan Lovells has advised the shareholders of Carcraft on its management buyout (MBO) led by CEO Robin Bridge, for an undisclosed sum.

Carcraft is the UK's only national independent car supermarket, bought by the McKee brothers from their father in 1998. Since then, together with Robin, they have grown the business from one site to eleven.

The Hogan Lovells team advising Carcraft on the MBO was led by London private equity partners Alan Greenough and Keith Woodhouse with associates Monika Przygoda and Laurence Dace.

Mayer Brown represents Vidara Therapeutics International Ltd. in its acquisition by Horizon Pharma, Inc. for approximately $660 million

27 Mar 2014

Mayer Brown is representing Vidara Therapeutics International Ltd., a specialty pharmaceutical company organized in Ireland, in connection with its acquisition by Horizon Pharma, Inc. through a reverse merger for stock and cash valued at approximately $660 million at the time of announcement. The surviving company, to be named Horizon Pharma plc, will be listed on NASDAQ.

Travers Smith advises on Banner Homes sale

26 Mar 2014

Travers Smith has advised the shareholders of Banner Homes, Prowting Family Trust and Management, on its sale to Cala Homes for an undisclosed sum.

The combined Cala and Banner Homes business will directly employ more than 600 people and have a turnover of more than £500m in its first full year, with net assets of £200m.  In the longer term, the company expect to deliver about 2,000 homes annually by 2017.