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M&A: Seller's Counsel

Macfarlanes advises The Royal Bank of Scotland plc on Global Treasury Funds transfer to Goldman Sachs Asset Management

22 Oct 2013

Goldman Sachs Asset Management (“GSAM”) announced today that it will acquire the Global Treasury Funds, which are a range of money market funds managed by RBS Asset Management (“RBSAM”).

James Dawson, corporate M&A partner at Macfarlanes added: "We are delighted to have assisted RBS and RBSAM on this transaction."

Dechert Advises MacDermid, Incorporated in $1.8 Billion Sale to Platform Acquisition Holdings Limited

22 Oct 2013

Platform Acquisition Holdings Limited (LSE: PAH) announced today that it has entered into a definitive agreement to acquire MacDermid, Incorporated, a global provider of high value-added specialty chemicals, for approximately $1.8 billion plus contingent consideration. Dechert LLP represented MacDermid and its stockholders in the transaction.

Dechert Advises on Sale of All Shares in DEV Systemtechnik to US based Quintech

21 Oct 2013

Dechert has advised the former owner of DEV Systemtechnik GmbH & Co. KG (DEV) Jörg Schmidt on the sale of his 100 per cent of shares in the company to a subsidiary of US-based Quintech Electronics & Communications Inc. (Quintech), Indiana, Pennsylvania, USA. The transaction includes a vendor loan which is secured by first ranked securities, and an earn-out aspect. The closing took place on 30 September 2013. DEV is located in Friedberg and will be a wholly owned subsidiary of Quintech. Jörg Schmidt will keep his position as managing director.

DLA Piper advises Vocalocity in US$130 million deal with Vonage

15 Oct 2013

DLA Piper advised Vocalocity, one of the fastest-growing providers in the SMB-hosted VoIP market, in the US$130 million sale of its business to New Jersey based telecommunications provider Vonage Holdings Corp. The transaction is expected to close in the fourth quarter of 2013, subject to customary closing conditions.

Under the terms of the deal, Vonage will acquire Vocalocity for $130 million, including $105 million in cash and $25 million in Vonage common stock.

Allen & Overy advises Lloyds Banking Group on the sale of select Australian businesses

15 Oct 2013

Lloyds Banking Group plc has agreed the sale of its Australian asset finance business, Capital Finance Australia Ltd (CFAL), and its corporate loan portfolio, BOS International Australia Ltd (BOSI) to Westpac Banking Corporation for approximately A$1.55 billion in total.

The consideration includes approximately A$1.45 billion for the shares in the operations and approximately A$0.1 billion for the market value of derivative contracts.

K&L Gates advises P-D Group on sale of P-D ChemiePark Bitterfeld Wolfen GmbH

14 Oct 2013

K&L Gates LLP has advised Preiss-Daimler P-D Group on the sale of P-D ChemiePark Bitterfeld-Wolfen GmbH to Gelsenwasser AG. After purchasing Chemiepark Bitterfeld-Wolfen during a privatization process in 2000, the P-D Group has successfully developed and continued its operations, with Chemiepark today providing an integrated network of infrastructure and value-added services for 360 national and international companies on a 1,200 hectares site.

The transaction was completed in September 2013 following the approval of the German Federal Cartel Office.

Dechert Advises ICG Group in $375M Sale of Procurian to Accenture

10 Oct 2013

Dechert is representing ICG Group, Inc. (“ICG”) in its sale of Procurian, Inc. (“Procurian”) to Accenture plc for $375 million in cash. Radnor, PA-based ICG announced today that it has executed a definitive agreement for the sale of Procurian, a specialist in procurement solutions, to Accenture plc. The transaction is subject to customary closing conditions, with completion expected to occur in the fourth quarter.

Dechert Advises Edgen Group in $1.2 Billion Sale to Sumitomo

10 Oct 2013

Dechert is representing Edgen Group Inc. in its sale to Sumitomo Corporation, which was disclosed today. The two companies have announced the signing of a definitive merger agreement whereby Sumitomo will acquire all outstanding shares of Edgen Group Inc. for US$12.00 per share in cash ("acquisition"). The acquisition, which is expected to close before the end of 2013, is subject to customary closing conditions and regulatory approvals and is estimated at $1.2 billion. Edgen is a leading global supplier of specialized products for worldwide energy and infrastructure markets.