Slaughter and May acted for SLA on the sale of its capital-intensive insurance business to Phoenix. The total consideration upon completion will be £3.24 billion, including £2.28 billion in cash and a 19.99% shareholding in Phoenix. The sale is conditional upon the approval of SLA’s shareholders at a General Meeting, and certain other conditions.
Travers Smith LLP has acted for Investec Bank plc in its capacity as nominated adviser and broker on the £50.0 million placing (the "Placing") of new ordinary shares by easyHotel plc (easyHotel).
The Placing remains conditional on, amongst other things, the passing of shareholder resolutions at a general meeting of easyHotel.
easyHotel is the owner, developer, operator and franchisor of branded hotels. The proceeds of the Placing will be utilised primarily to fund the group's owned hotel roll-out strategy.
Multi-disciplinary team at Weightmans secures results for Leeds business
A corporate team at national law firm Weightmans has advised Leeds chartered accountants Hentons on its strategic merger with York and Thirsk-based Forster Scott & Co as part of a multi-million pound expansion plan.
Hentons’ position throughout Yorkshire and beyond has been strengthened by the acquisition of the accountancy practice with 110 years of history.
Taylor Wessing and Holland & Knight have jointly advised the The Cadmus Group LLC (Cadmus), a leading consultancy in the USA, on the purchase of the consultancies IFOK GmbH (IFOK) and Meister Consultants Group Inc. (MCG).
Cadmus provides strategic and technical expertise in energy, climate, all-hazard preparedness, the natural and built environments, sustainable transportation, public health, and international development. With more than 500 consultants, Cadmus advises government, commercial, and nongovernmental organizations in the USA and worldwide.
Cleary Gottlieb is representing Fidessa group plc (Fidessa) in relation to the recommended all cash offer from Temenos Group AG (Temenos) to acquire the entire issued and to be issued share capital of Fidessa.
The offer is expected to be effected by means of a scheme of arrangement under Part 26 of the UK Companies Act 2006.
Fidessa is a global provider of multi-asset trading and investment software and infrastructure solutions to the world’s financial markets. Temenos is a global provider of integrated software to banks and other financial institutions.
Hunton & Williams LLP advised Darden Restaurants, Inc. (Darden), in connection with its tender offer (and related consent solicitation) for up to up $450,000,000 of its outstanding senior notes and an SEC-Registered offering of $300,000,000 aggregate principal amount of 4.550% senior notes due 2048. The proceeds of the senior notes offering were used to fund a portion of Darden’s tender offer.
Kirkland & Ellis advised IK Investment Partners, a leading Pan-European private equity firm, which recently closed its second small-cap fund, IK Small Cap II Fund. The fund was closed at its hard cap with aggregate capital commitments of €550 million. The fund, which will make majority investments in companies with enterprise values up to €100 million in Benelux, DACH, France and the Nordics, accepted commitments from a broad mix of global institutional investors. More information is available here.
The international law firm Milbank, Tweed, Hadley & McCloy LLP has advised ProSiebenSat.1 Media SE on entering into a long-term partnership with growth investor General Atlantic. General Atlantic’s investment will give it a 25.1 percent stake in NuCom Group, based on an enterprise value of EUR 1.8 billion. ProSiebenSat.1 Group formed NCG – NuCom Group on January 1, 2018, which will unite ten strategic investments from its Commerce business – including Verivox, Parship Elite Group and Jochen Schweizer mydays Group.
Sidley advised TowerBrook Capital Partners L.P. on its investment in Aernnova Aerospace Corporation, S.A., a leading Spanish aerostructures company specializing in the design and manufacturing of aerostructures and component parts. Torreal, SCR, S.A., Península S.a.r.l. and TowerBrook will become part of Aernnova’s shareholder structure alongside members of the executive committee of Aernnova and its management team. The transaction represents TowerBrook’s first investment in a Spanish-based company.
The international law firm BEITEN BURKHARDT has advised ING DiBa on the acquisition of the Berlin online credit market place Lendico. The takeover is still subject to approval by the antitrust authorities and the parties have agreed not to disclose the transaction volume.