DLA Piper has advised the Bank of Moscow Group with regard to sale of its subsidiary bank in Ukraine, BM Bank to Smart Holding, one of the largest investment groups in Ukraine who focus on key industries of the economy.
Lawyers from both Kyiv and Moscow offices provided full legal support to the transaction, prepared the framework agreement and other documents. The transaction will be closed after obtaining the regulatory permits.
Slaughter and May is advising SVG Capital plc on an agreement to sell its public equities business, SVG Investment Managers to Hansa Aktiengesellschaft ('Hansa'), a Swiss based international investor with more than US$1.8 billion of assets.
The transaction, which was announced on 12 August 2013, is due to complete later this year and is subject to regulatory approval. Hansa will also acquire SVG Capital's stakes in certain funds managed by the SVG Investment Managers' team.
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Slaughter and May, Hong Kong, advised Ratnakar Bank Limited ('RBL'), one of India's fastest growing private sector banks, on English law aspects of their acquisition of RBS's business banking, credit cards and residential mortgage businesses in India. The acquisition is subject to approvals from the Competition Commission of India ('CCI').
RBL was established in 1943 and is a US$2.5 billion domestic commercial bank with 131 branches and 217 ATMs across 11 Indian States. It offers services across five business sectors and serves more than five hundred thousand customers.
Sydney: Leading international law firm Clifford Chance has advised the Waterhouse family on the sale of Australian online betting company tomwaterhouse.com to the UK's William Hill.
Tomwaterhouse.com was established in 2010 and is one of Australia’s fastest growing wagering and sports betting businesses, led by managing director Tom Waterhouse.
The Waterhouse name has been synonymous with betting and racing in Australia for more than a century. Tom Waterhouse himself is a fourth-generation bookmaker and a member of Australia’s most famous racing family.
Davis Polk advised San Antonio Internacional, Ltd., a portfolio company of GP Investments, Ltd., in connection with the $122.5 million sale of its subsidiary, San Antonio Internacional Colombia Inc., to Estrella International Energy Services Ltd., an affiliate of Southern Cross Group. The transaction closed on August 1, 2013.
Simpson Thacher is representing Emerson Electric Co. (NYSE: EMR) in connection with the sale of a majority interest in its Embedded Computing & Power business to an affiliate of Platinum Equity Advisors, LLC. Under the terms of the transaction, Emerson will receive aggregate consideration of approximately $300 million and retain a 49% equity stake in the business. The transaction is subject to regulatory approvals and other customary conditions to closing.
Shearman & Sterling advised Vector Capital and Teletrac, Inc. on the sale of Teletrac, Inc., a leading GPS tracking and fleet management software company, to Danaher Corporation. The financial terms of the transaction were not disclosed.
Teletrac provides advanced GPS asset location, diagnostics, fuel efficiency, safety, compliance, scorecarding and business intelligence in a single powerful web interface.
On August 5, 2013, The Washington Post Company announced that it has signed a contract to sell its newspaper publishing businesses, including The Washington Post newspaper, to Jeffrey P. Bezos for US$250 million, subject to normal working capital adjustments. Cravath represented The Washington Post Company in connection with this transaction, which is expected to close later this year.
The Cravath team included partner Eric L. Schiele and associate Ting S. Chen on corporate matters and partner Jennifer S. Conway on executive compensation and benefits matters.
Field Fisher Waterhouse has advised the majority sellers on the auction sale of the entire issued share capital of Xbridge Limited, trading as Simply Business, on a management buy out supported by AnaCap Financial Partners. Simply Business was among the first online brokers in the commercial insurance market, and focuses on the small business insurance market. The Field Fisher Waterhouse team, led by Andrew Blankfield, advised the majority sellers on the sale including Brit Investment Holdings Limited (part of the Brit Insurance group) and Xbridge's founder, Brad Liebmann.