Herbert Smith Freehills has advised one of the founders of PageUp People Limited on its acquisition by Battery Ventures, a global investment firm founded in 1983.
PageUp is a leading provider of talent management software and offers a fully integrated suite of products covering recruitment, employee on boarding, performance management, learning and career development and succession management.
Hogan Lovells advised initial purchasers BB Securities and BNP Paribas in the structuring, distribution and issuance of US$600 million in 144A/Regulation S notes issued by Rio Oil Finance Trust, an SPV created for purposes of issuing notes backed by oil royalties allocable to the State of Rio de Janeiro. The offerings are designed to assist the State of Rio de Janeiro and its pension fund RioPrevidência to monetize their future entitlements to national oil royalties.
Ruling Set To Trigger Changes To Employment Contracts
An NHS worker whose bosses attempted to make her redundant whilst she was on holiday has today won a landmark case in The Supreme Court. According to her lawyers at Irwin Mitchell, the ruling is significant as it could trigger changes to all employment contracts in the UK.
The case centres on Sandi Haywood who worked for the NHS for over 30 years as an Associate Director of Business Development for Newcastle and North Tyneside Primary Care Trusts.
Global law firm Norton Rose Fulbright has advised longstanding client, Emerging Africa Infrastructure Fund (EAIF), in relation to its latest round of debt fundraising, in which EAIF raised approximately US$385million in new long-term debt capital to invest in sub-Saharan African infrastructure projects. Norton Rose Fulbright has advised EAIF on its debt financings since 2013.
The new funds will be used by EAIF over the next five years in infrastructure projects across Africa enabling EAIF to mobilise private sector capital for investment in African infrastructure.
Osborne Clarke has advised QinetiQ Limited on the acquisition of E.I.S. Aircraft Operations from EQT Mid Market for EUR 70 million. The acquisition is subject to certain regulatory and legal approvals and is expected to close towards the end of the first half of QinetiQ’s 2019 financial year.
QinetiQ is a leading science and engineering company operating primarily in the defence, security and aerospace markets. The customers are predominantly government organisations, including defence departments as well as international customers in other targeted sectors.
Baker McKenzie has advised Atari, one of the world leaders in the publishing and production of interactive games, a company listed on Euronext Paris, in the framework of an increase in capital in the form of a private placement.
This 7.5 million euro private placement was made by means of an accelerated book building process.
This fundraising should enable Atari to accelerate its development plan and enhance the value of its portfolio of more than 200 games internationally.
Cooley advised Pizza Hut Restaurants UK and its senior leadership team, led by CEO Jens Hofma, on the management buyout of the business from Rutland Partners, a UK private equity firm. Cooley’s team was led by private equity partner Stephen Rosen and finance partner John Clark.
The MBO is backed by Pricoa Capital Group, the international private capital investment arm of PGIM.
Davis Polk is advising Comcast Corporation in connection with its £22 billion ($30 billion) pre-conditional cash offer to acquire the entire share capital of Sky plc. Under the terms of Comcast’s offer, the key terms of which were announced in a possible offer announcement on February 27 2018, Sky shareholders will receive £12.50 in cash for each share. The offer, intended to be implemented as a tender offer with a 50% plus one share acceptance condition, is subject to regulatory and antitrust approvals and other customary conditions.
Orrick advised leading private equity investor EQT Mid Market on the sale of airborne training services business E.I.S. Aircraft Operations, part of E.I.S. Aircraft Group, to UK-based QinetiQ Group.
EQT Mid Market remains invested in E.I.S. Aircraft Group’s light-weight aviation cabin interior products and maintenance services business E.I.S. Aircraft Products & Services.
Shearman & Sterling advised Silversea Cruise Holding Ltd. (“Silversea Cruises”) on the offering of $70 million aggregate principal amount of 7.250% senior secured notes due 2025 by its wholly owned subsidiary Silversea Cruise Finance Ltd. The offering, which was conducted pursuant to Rule 144A and Regulation S under the U.S. Securities Act, closed on April 16, 2018. The proceeds of the offering will be used to fund future capital expenditure on its current fleet and for general corporate purposes.