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M&A: Seller's Counsel

Aquis Exchange - investment by Warsaw Stock Exchange

22 Aug 2013

Slaughter and May advised Aquis Exchange Limited ('Aquis Exchange') on its agreement with Warsaw Stock Exchange ('WSE') under which WSE will invest £5 million in Aquis Exchange for 30% of its entire issued share capital.

Aquis Exchange was established in October 2012 and has been created to operate a pan-European equities trading exchange and develop exchange software. Aquis Exchange has applied for regulatory approval from the Financial Conduct Authority and, subject to gaining that approval, is planning to go live in October 2013 with its innovative subscription pricing model.

Travers Smith advises management on the sale of Skrill Group to CVC Capital Partners

21 Aug 2013

A Travers Smith team lead by senior partner Chris Hale and private equity partner James Renahan has advised management on the agreement for sale of online payment services firm Skrill Group (formerly known as Moneybookers) to CVC Capital Partners for €600 million, which is subject to regulatory approvals.

As part of the agreement, Investcorp will keep a minority shareholding in Skrill, as well as retain a seat on the London-based firm's board.

Founded in 2001, Skrill is available in 200 countries and territories, offering 100 local payment options and 40 currencies.

Weil & Davis Polk advises Edwards Group on its takeover by Atlas Copco

21 Aug 2013

Peter King, partner at International law firm Weil, Gotshal & Manges has represented Edwards Group Limited, as co-counsel with Davis Polk & Wardwell London LLP, on its takeover by Atlas Copco. Edwards, the Crawley, UK-headquartered developer and manufacturer of vacuum products, abatement systems and related value-added services, has entered in to a definitive merger agreement with Swedish industrial group Atlas Copco AB, which has leading positions in compressors, expanders and air treatment systems, construction and mining equipment, power tools and assembly systems.

Shearman & Sterling Represents STMicroelectronics N.V. in Sale of Subsidiary to NVIDIA Corporation

16 Aug 2013

Shearman & Sterling advised STMicroelectronics N.V. (ST) and certain of its subsidiaries in its sale to NVIDIA Corporation of substantially all of the assets of ST’s subsidiary, The Portland Group, Inc., and certain related assets held by other ST subsidiaries. The transaction closed on July 29, and financial terms of the transaction were not disclosed.

ST is a global leader in the semiconductor market, serving customers across the spectrum of sense and power and automotive products and embedded processing solutions.

Simpson Thacher Represents the Sellers in the Sale of San Miguel Industrias PET S.A. to Nexus Group

15 Aug 2013

The Firm has represented the shareholders of San Miguel Industrias PET S.A. (“San Miguel”) in connection with the sale of 99.92% of the outstanding share capital of San Miguel to the Nexus Group, a Peruvian-based private equity firm, in the context of a bidding process involving multiple bidders.  San Miguel is a leading manufacturer and distributor of PET preforms and bottles for food and beverage and other retail markets in Peru, with operations in El Salvador, Panama, Ecuador and Colombia.

Bingham Represents Agero Inc. in $530M Sale of Connected-Vehicle Unit

15 Aug 2013

Bingham represented Agero Inc. in connection with the sale of its connected-vehicle division to satellite-radio broadcaster SiriusXM Radio Inc. for $530 million in cash. Agero’s connected-vehicle division provides vehicle telematics services, including security, safety, content and other technologies, to a blue-chip stable of clients including Acura, BMW, Honda and Hyundai.

Addleshaw Goddard advises practice plan on sale to Wesleyan Assurance Society

14 Aug 2013

A Manchester-based team from Addleshaw Goddard has advised Practice Plan Group on its acquisition by Wesleyan Assurance Society, for an undisclosed sum. Practice Plan is the leading provider of practice-branded dental membership plans, and Medenta, one of the leading providers of patient finance to UK dental practices.

The Addleshaw Goddard team was led by Corporate Partner Roger Hart, and included Rabia Burton, Cat Concannon, Sophie Cochrane, Paul Harris, Richard Oman and Carly Mather.

Freshfields advises Advent International on its sale of Domestic & General

14 Aug 2013

Leading international law firm, Freshfields Bruckhaus Deringer has acted for private equity group Advent International on the sale of its portfolio-firm Domestic & General to funds advised by CVC Capital Partners.

Freshfields acted for Advent when it acquired Domestic & General in 2007 through a public-to-private transaction. The Freshfields team acting on the sale was led by Adrian Maguire, partner, and senior associate James Scott.

Completion of the transaction is subject to customary regulatory clearances and is expected to take place during Q4 2013.