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M&A: Seller's Counsel

DLA Piper represents Triton Pacific Capital Partners in sale of Alegis Care

16 Sep 2013

DLA Piper represented private equity firm Triton Pacific Capital Partners in its sale of Alegis Care (previously known as Home Physicians), to NewQuest, LLC, a wholly owned subsidiary of Cigna.

Purchased by Triton Pacific in 2006, Alegis Care focuses on providing in-home care for Medicare and Medicaid patients. The medical health services organization will continue to focus on chronic care management, servicing almost 31,000 seniors across 10 states in 2013 under Cigna’s leadership.

Davis Polk Advises Morgan Stanley Capital Partners on American Family Insurance’s Acquisition of Homesite Group

12 Sep 2013

Davis Polk is advising Morgan Stanley Capital Partners as selling shareholder in connection with the $616 million acquisition by American Family Mutual Insurance Company of Homesite Group, Inc. The acquisition, which is expected to close by the end of the year, is subject to customary closing conditions and regulatory approvals.

Bingham lead in Acton Pharmaceuticals Deal

12 Sep 2013

Bingham, led by partner Jack Concannon, served as legal adviser to Acton Pharmaceuticals, Inc., a specialty respiratory pharmaceutical company, in a definitive agreement to be acquired by Meda in an all cash transaction. Under the terms of the agreement, Meda will acquire 100 percent of Acton’s shares for $135 million, plus $10 million in a contingent, near-term development milestone. The Bingham team also included partners Amy Mugherini, Don Abrams, Russ Isaia, Thane Scott and Jenny Cooper; counsel Rachel Smith; and associate Gaurav Singh.

Weil Advises Apache in $3.1 Billion Sale of Egypt Energy Stake to Sinopec

11 Sep 2013

International law firm Weil, Gotshal & Manges is representing Houston-based oil and gas producer Apache Corporation in the sale of a 33 percent stake in its Egyptian oil and gas business to China’s Sinopec International Petroleum Exploration and Production Corporation (Sinopec). Apache’s Egyptian production in 2012 totaled an average of 100,000 barrels of oil and 354 million cubic feet of natural gas per day, while providing employment for about 9,000 people in Egypt, where the company has two decades of industry experience.

DLA Piper advises on David Lloyd Leisure sale

10 Sep 2013

DLA Piper has advised David Lloyd Leisure Operations Holdings Limited, the holding company owned by private equity firm Caird Capital LLP and London & Regional Holdings Limited, on the sale of the David Lloyd Leisure Group to TDR Capital LLP for an undisclosed sum.

The David Lloyd Leisure Group operates 83 clubs in the UK and a further 10 sites across Europe. The Group, which is Europe's largest racquets, health and fitness operator.

The DLA Piper team was led by partner Ed Griffiths assisted by associates Jess Hogan and Laura Campbell.

Travers Smith acts on the acquisition of David Lloyd Leisure

09 Sep 2013

A Travers Smith team led by private equity partner Paul Dolman and senior corporate associate Adam Orr has advised management on the acquisition of David Lloyd Leisure ("DLL") by investment funds managed by TDR Capital LLP ("TDR").

David Lloyd Leisure is Europe's leading premium, health, sport and leisure group with 81 clubs in the UK alone. DLL has recently diversified its portfolio with the launch of a new personal and group training fitness concept, DL Studios.

Squire Sanders Acts in Sale of UK Retailer to French Group Damartex

09 Sep 2013

Squire Sanders has advised the owners of well-known UK retailer Coopers of Stortford on the sale of the business to the France-based group Damartex SA. The acquisition has a headline enterprise value of £25 million. Corporate partner David Hull in London led the Squire Sanders team on the transaction, assisted by associate Mark Yeo.