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M&A: Seller's Counsel

Squire Sanders Advises Nuverra Environmental Solutions in its Agreement to Sell Thermo Fluids Inc.

13 Mar 2014

Squire Sanders advised Nuverra Environmental Solutions, one of the largest companies in the US dedicated to providing comprehensive and full-cycle environmental solutions to customers in energy and industrial end-markets, in entering into a definitive agreement to sell its industrial solution division, Thermo Fluids Inc., to VeroLube, Inc. The deal is valued at US$175 million and expected to close in the second quarter of 2014.

Dechert Represents Lamprell in Sale of INSPEC to Intertek

11 Mar 2014

A Dubai-based team of Dechert LLP lawyers represented Lamprell Energy Ltd., a subsidiary of Lamprell plc (Lamprell), in its sale of International Inspection Services Ltd (Inspec), a UAE-based provider of non-destructive testing (NDT) and associated services to the oil and gas industry, to Intertek Group plc (Intertek), a leading quality solutions provider to industries worldwide.

Dechert partner John Podgore was assisted by associates Greg Nixon and Carly Jackson in the disposal for a total cash consideration of US$66 million.

Clyde & Co advises Whittington Group Pte. Limited on the sale of DirectAsia to Hiscox Ltd

10 Mar 2014

Clyde & Co advised Whittington Group, the Singapore-headquartered insurance services and investment business, on the sale of its direct-to-consumer online operation DirectAsia to Hiscox plc, a subsidiary of Hiscox Ltd., an international insurance specialist insurance group listed on the London Stock Exchange (LSE:HSX), for a consideration of USD 55 million plus earn out over a period of four years.

Advising Helbako on abandoning a joint venture

10 Mar 2014

Simmons & Simmons has advised automotive supplier Helbako on abandoning a joint venture and selling their shares in the joint venture company.

The company Helbako GmbH, based in Heiligenhaus near Düsseldorf, abandoned the joint venture with WET AG, which now belongs to US automotive group Gentherm. In this context, Helbako sold its shares in the joint venture holding company HeWe GmbH to WET/Gentherm.

DLA Piper advises on the sale of B2S Group to Q-Dance Partners

10 Mar 2014

DLA Piper has advised the shareholder of Amazing Holding B.V. on the sale of B2S Group to Q-Dance Partners, part of SFX/ID&T.

SFX/ID&T has acquired 50 per cent of the shares of B2S, a Dutch festival promoter. The other 50 per cent was already held by acquisition entity Q-Dance B.V. The deal will give SFX/ID&T a larger foothold on the Dutch dance music and festival industry as it builds a US $1 billion media empire focussed on dance. This acquisition is directly linked to SFX's 2013 acquisition of Dutch festival and dance behemoth ID&T.

CMS Hasche Sigle advises VR meine Raiffeisenbank eG on the sale of a majority shareholding in the RT / Raiffeisenbank Touristik Group

07 Mar 2014

VR meine Raiffeisenbank eG is selling 74.9% of RT / Raiffeisenbank Touristik Group GmbH to Samih Sawiris. The purchase price has not been disclosed.

A Berlin - based team led by corporate law partner Dr Eva Annett Grigoleit advised VR meine Raiffeisenbank eG on the legal aspects of the transaction.

DLA Piper advise on the sale of the entire issued share capital of DORC to Montagu Private Equity

28 Feb 2014

DLA Piper has advised Rabo Capital, Van Lanschot Participaties B.V., Oftavinci B.V., the management team and Stichting Personeelsparticipatie DORC Holding on the sale of the entire issued share capital in DORC to Montagu Private Equity.

The sale of DORC was a high-profile transaction in the Dutch M&A-market considering its size and large interest of potential bidders until the last phase of the auction.