Slaughter and May is advising GlaxoSmithKline plc (GSK) on its conditional agreement to buy out Novartis AG’s (Novartis) 36.5% stake in their Consumer Healthcare Joint Venture (the JV) for cash consideration of $13 billion.

GSK has also entered into a committed facilities agreement to support the funding of the buyout.

The buyout is subject to shareholder approval and is expected to complete in the summer of 2018.

Slaughter and May is supporting GSK’s internal legal team, led by Chip Cale and Antony Braithwaite.

Contacts

The firm represented Thornton Hall Hotel, claimants in a case against Wirral Metropolitan Borough Council..

A team of planning experts from national law firm Weightmans have secured a High Court victory, resulting in the quashing of planning permission for a major marquee development in the green belt.

The firm represented Thornton Hall Hotel, claimants in a case against Wirral Metropolitan Borough Council, who granted a wedding and events venue permission for marquees on greenbelt land within the Thornton Manor Estate, at Thornton Hough on the Wirral.

Today, on 23 March 2018, Green Landscaping was listed on Nasdaq First North. The price per share in the IPO was SEK 21, corresponding to a total market value of approximately SEK 745 million.

FSN Capital III is the largest shareholder and will hold approximately 18.6 percent of the shares in Green Landscaping immediately after the IPO. Other shareholders include both Swedish and international institutional investors, there among the Salén family, as well as investors among the general public in Sweden.

Baker McKenzie advised Sundance Energy Australia Limited on its A$331 million capital raising of new equity comprised of A$257 million of commitments that have been received for two tranche placements plus a fully underwritten entitlement offer to raise A$74 million.

Baker McKenzie assisted Natuzzi S.p.A. on the joint venture agreement with Jason Furniture (Hangzhou) Co., Ltd, a company belonging to the Kuka Group, listed on the Shanghai stock exchange. Natuzzi will confer the exclusive trademark license and all the sell and distribution activities of Natuzzi Italia and Natuzzi Editions in China to a joint venture formed by the entrance of Kuka into Natuzzi Trading (Shanghai) Co., Ltd. The completion of the transaction is subject to obtaining any applicable authorizations.

Cleary Gottlieb represented the Republic of Senegal in an international sovereign bond offering of $1 billion 6.750 percent amortizing notes due 2048 and €1 billion 4.750 percent amortizing notes due 2028 as well as a related €250 million bridge-to-bond loan entered into with Citibank, Standard Chartered Bank, and Société Générale in January 2018 (the “Bridge Loan”).

Global law firm White & Case LLP has advised global investor PPF Group on its acquisition of Telenor’s telecommunications assets in Central & Eastern Europe for €2.8 billion on an enterprise value basis.

It is the largest M&A transaction in the CEE telecoms sector, and the largest loan syndication in the region, since 2011. The deal includes Telenor's wholly owned leading mobile operations in Hungary, Bulgaria, Montenegro and Serbia, and the technology service provider Telenor Common Operation.

Global law firm, Reed Smith has advised new client Catella AB (Catella) on the acquisition of a majority stake in APAM Ltd.

Through Catella’s property fund, Catella Property Fund Management AB (CPFM), the organisation signed a share purchase agreement to acquire a majority stake in the leading UK real estate investment and asset management company, APAM Ltd.

With operations in 14 countries, Catella is a leading pan-European organisation specialising in property investments, fund management and banking.

Global law firm White & Case LLP has advised Commerzbank Aktiengesellschaft, Deutsche Bank AG, London Branch, HSBC Bank plc, DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main, Lloyds Bank plc and UniCredit Bank AG, as joint lead managers, on a €600 million bond issue by Deutsche Börse Aktiengesellschaft.

The notes have a term of ten years, a fixed coupon of 1.125% and will be admitted to trading on the regulated markets of the Frankfurt Stock Exchange and the Luxembourg Exchange.

Fried Frank acted as counsel to a private debt fund of Bright Capital on the financing to support the strategic development of Wolfensberger AG, in connection with its succession planning and acquisition by Fidelium Partners. Fidelium Partners, located in Munich, Germany, is an investor specializing in industrial holdings. Wolfensberger AG, based in Bauma, Switzerland and founded in 1924, operates as a foundry for high-quality and ready-to-install cast products, supplying customers in the commercial transportation, shipbuilding, mechanical engineering, mining, and energy sectors.