Carlyle and GIC to acquire 100% of AkzoNobel's Specialty Chemicals business.

AkzoNobel has announced the sale of 100% of its Specialty Chemicals business to The Carlyle Group and GIC for an enterprise value of €10.1 billion. This transaction creates two focused and high performing businesses – Paints and Coatings, and Specialty Chemicals – as part of its strategy announced in April 2017. The transaction is subject to customary closing conditions and is expected to be completed before the end of 2018.

Reed Smith represented global investment servicing company Cortland Capital Market Services LLC, headquartered in Chicago, in connection with its successful sale to Luxembourg-based Alter Domus Group, a leading provider of fund administration and corporate services.
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Shearman & Sterling advised funds managed by Equistone Partners Europe on the financing of the acquisition of BOAL Group. BOAL Group was sold by Ronald Boers as well as founder Marinus Boers, both of whom will retain a minority shareholding. BOAL’s management team will also acquire a minority stake in the business. The financial terms of the deal are undisclosed and the acquisition remains subject to clearance from anti-trust authorities.

Leading global law firm Baker McKenzie is advising FTSE 250 company BGEO Group PLC on the demerger of its investment business from the banking business. This will involve the insertion of a new parent company by way of scheme of arrangement and premium listings of both banking and investment businesses. It is currently expected that both will be FTSE 250 companies. Announced yesterday and, subject to shareholder approval, expected to close in May 2018, this will be the first demerger by way of scheme of arrangement involving London premium listed companies since 2012.

Baker McKenzie Bangkok was mandated by RH International (Singapore) Corporation Pte. Ltd. (RHIS) and Ratchaburi Electricity Generating Holding Public Company Limited (RATCH) on their first-ever liability management exercise. The transaction involved a cash tender offer of the existing notes of RHIS and an issuance of new money notes by RHIS.  The new notes are guaranteed by RATCH.

Paris office represents the European Investment Bank (EIB) on its €20 million financing of MedinCell, an innovative French biotech company specializing in injectable medical treatments with controlled and extended action.

Willkie recently advised EIB on its €20 million financing of MedinCell. The financing will enable MedinCell to develop innovative injectable controlled-acting and prolonged treatments in order to replace daily medication with subcutaneous or localized injections and improve the quality of life of patients.

Global law firm White & Case LLP continues to grow its Houston office with the addition of new partner Steven Tredennick. Tredennick will be part of the Firm's Global Mergers & Acquisitions (M&A) Practice and will work closely with its Global Oil & Gas Industry Group.

Naiara Rodriguez-Escudero’s arrival will strongly complement the firm’s growing corporate practice in Spain and Europe.

TJ Graham is joining Cooley’s Palo Alto office as a partner in the firm’s technology transactions group. He arrives from Wilson Sonsini Goodrich & Rosati.

“TJ is a skilled and highly regarded practitioner whose extensive experience in a range of technology transactions spanning many industries will prove an invaluable asset to our clients,” said Keith Berets, who heads Cooley’s technology transactions group. “The demand for complex technology transactions work has been on the rise, and TJ’s talent will be a significant addition to our growing practice.”

Willkie Farr & Gallagher LLP is pleased to announcethat Mark Proctor has joined the fir m as a partner in the Asset Management Group in the New York office.