Eversheds Sutherland has advised GuarantCo Ltd on the provision of a re-guarantee facility, worth up to $74 million, to the guarantors of a number of financial institutions who provide loans to small and medium sized enterprises in Africa.

The facility, provided to the African Guarantee Fund for Small and Medium Sized Enterprises and the African Guarantee Fund pour les petites et moyennes enterprises (AGF West Africa), was signed yesterday (1 March 2018).

Freshfields Bruckhaus Deringer LLP (‘Freshfields’) has advised Interoute, the owner-operator of one of Europe’s largest networks and a global cloud services platform, on its acquisition by the leading global cloud networking provider GTT Communications, Inc. (‘GTT’) for €1.9bn.
 

Herbert Smith Freehills has advised New South Wales Treasury on the sale of New South Wales’ 58% shareholding in Snowy Hydro Limited, the owner and operator of the iconic Snowy Mountains hydro scheme, the Laverton North, Valley Power and Colongra gas peaker power stations and the Red and Lumo energy retail businesses. 

New South Wales’ shares in Snowy Hydro Limited will be sold to the Commonwealth for A$4.154 billion. The Commonwealth will also acquire Victoria’s 29% shareholding in Snowy Hydro Limited for A$2.077 billion.

In January 2018, Shanda Games Limited ("Shanda Games") has officially introduced in strategic investor Tencent . Following this transaction, Tencent will hold 11.83% equity of Shanda Games, becoming its second largest shareholder.

BEITEN BURKHARDT has advised Media Group Medweth on the sale of the monthly women's magazine “JOLIE” and also on the sale of the digital offerings “Jolie.de” and “Mädchen.de” to Media Group KLAMBT. The Asset Purchase Agreement was concluded and signed on 28 February 2018 but the transaction is still subject to clearance by the competent antitrust authorities of Germany and Austria.

With this sale Jolie, one of the most prominent and successful women's lifestyle magazines, changes its publishing house.

BEITEN BURKHARDT has advised audio marketing provider SpotCom on the sale of the online audio portfolio. The purchaser is RMSi, the digital marketing subsidiary of the national radio marketing company RMS. The parties have agreed not to disclose the transaction volume.

Loyens & Loeff Luxembourg acted as Luxembourg legal counsel of IK Investment Partners in the establishment of its second small cap investment fund, IK Small Cap II Fund, which focuses on making control investments in small cap companies with strong growth potential in Northern Continental Europe.

The IK Small Cap II Fund closed at its hard cap of EUR 550 million. IK Small Cap II was substantially oversubscribed and allocated to existing IK platform investors.

WARSAW - March 2, 2018 - Greenberg Traurig is representing Abris Capital Partners, a leading CEE private equity fund, in the acquisition of Velvet CARE sp. z o.o., one of the largest manufacturers of hygiene products in Poland.

As a result of the transaction, VLET Holdings s. a r. l., an Abris Capital Partners entity, signed an agreement with Avallon MBO II B.V. regarding the acquisition of a majority stake in Velvet CARE Sp. z o. o. The closing of the transaction will be subject to, inter alia, obtaining certain standard regulatory approvals.

Ashurst is acting as the legal adviser to the Victorian Government in the A$2.077 billion sale of its 29% share in Snowy Hydro Limited (Snowy Hydro or The Company) to the Commonwealth Government (the Commonwealth).

The New South Wales Government will also sell its 58% share in The Company to the Commonwealth for A$4.154 billion. Following the completion, the Commonwealth will wholly own Snowy Hydro, increasing from its current 13% ownership.

WARSAW - March 2, 2018 - Greenberg Traurig advised Cyfrowy Polsat Group in connection with a signing of the Second Amendment and Restatement Deed to the loan agreements signed in September 2015 with a consortium of Polish and foreign financial institutions for a term loan of up to PLN 11.5 billion and a revolving loan of up to PLN 1 billion. These loans remain the largest and most innovative corporate loans made in the Polish currency.