An Orrick Paris team advised Naturex on its combination with Givaudan, a Swiss flavor and fragrance maker. France-based Naturex is a global leader in natural specialty ingredients for the food, health and cosmetic industries. The deal aims to create a new global leader in natural extracts and ingredients.
Shearman & Sterling advised Citigroup, Deutsche Bank and Morgan Stanley as joint global coordinators in connection with the initial public offering and listing on Euronext Amsterdam of NIBC Holding N.V.
The offering comprised a secondary sale by NIBC’s largest shareholders, entities advised by the private investment firm J.C. Flowers & Co., at an offer price of €8.75, implying a market capitalization of over €1.2 billion for NIBC.
Shearman & Sterling advised ABG Sundal Collier and Morgan Stanley, as joint global coordinators and joint bookrunners, and Carnegie, Citigroup and Nordea, as joint bookrunners, in connection with the initial public offering (IPO) and listing on Oslo Børs of Elkem ASA. The IPO consisted of a primary offering of shares by Elkem ASA and the sale of a minority stake by the selling shareholder, Bluestar Elkem International Co., Ltd. S.A., which will continue to remain a significant shareholder.
Sidley advised Summit Partners on its acquisition of a majority stake in Elatec, one of the world’s leading suppliers of multi-standard RFID readers, from DPE Deutsche Private Equity. DPE Deutsche Private Equity and its co-investors will retain a minority stake in Elatec.
Global law firm White & Case LLP has advised AXA on its €2 billion issuance of fixed to floating subordinated notes due 2049.
The notes bear an initial interest at a fixed rate of 3.250% per annum, payable annually until the first call date in May 2029 and at a floating rate thereafter, with a margin including a 100 basis points step-up. They have been structured to be eligible as Tier 2 capital under Solvency II. They were issued on March 26, 2018 and are admitted to trading on the Luxembourg Stock Exchange.
Global law firm White & Case LLP has advised BNP Paribas, Natixis and Société Générale, as joint global coordinators, on the €700 million offering of 2.625% senior notes due 2025 by Faurecia, a French automotive parts manufacturer.
Law firm Stephenson Harwood has advised Aetna International Inc. (Aetna) on its acquisition of Hong Kong-based Canadian Insurance Company Limited (CICL).
The acquisition means that Aetna, the US headquartered healthcare benefits provider, is now licensed to offer health insurance in Hong Kong. The license allows Aetna to market its products and services solely under the Aetna brand. The transaction required both corporate and regulatory advice, and coincided with the restructuring of the insurance regulator in Hong Kong, which brought additional challenges.
Global law firm Norton Rose Fulbright has advised Marubeni Corporation on the sale of its 25% shareholding in the 210MW Westermost Rough Offshore Wind Farm, located in the North Sea. The sale shares were acquired by Green Investment Group.
In connection with the sale, Norton Rose Fulbright also advised Marubeni Corporation on the refinancing of the existing loan facilities to the project and the prepayment of Japan Bank for International Cooperation.
Chris Down, partner, comments:
Linklaters advised Panattoni Europe, a market leader in industrial real estate in Europe, on the construction of the largest parcel distribution centre for the courier company GLS Poland. It is the developer’s first project for this company. The 7,000-square-metre facility was built in Janki near Warsaw and will handle on average 80,000 parcels a day and employ approx. 150 people.
Freshfields Bruckhaus Deringer (‘Freshfields’) has advised China Zheshang Bank Co., Ltd. (‘China Zheshang Bank’) on its placing of 759m new H-shares on the Hong Kong Stock Exchange. The transaction closed today (29th March 2018) and raised approximately US$464m.
The placing shares represent around 4.05 per cent of the total issued share capital of China Zheshang Bank as enlarged by the allotment and issue of the placing shares. China Zheshang Bank plans to use the proceeds of the placement to replenish the core tier-one capital.