CMS Grau has helped UK extraction company Tullow Oil acquire a 35% share in an offshore oil block in Peru’s Tumbes Basin. The agreement includes the financing of 43.75% of the total cost of the first exploration.

The Z-38 Blocks includes the first deep-water prospects to be drilled in Peru, which has been delayed for several years due to the technical and economic challenges it represents.

As part of CMS Grau, the transaction was led by Carlos Hamann and Augusto Astorga, partners of Oil and Gas practice area.

King & Wood Mallesons (KWM) advised Paladin Energy Limited (Paladin) and its administrators KPMG, on Paladin’s complex balance sheet restructure. The 7 month administration culminated in a US$700m debt for equity swap through a Deed of Company Arrangement (DOCA) and a court approved s444GA share transfer.

Watson Farley & Williams (“WFW”) has advised long-standing client Frasers Centrepoint Ltd and its related entities (the “Frasers Group”) in concluding the share purchase agreement for the acquisition of Farnborough Business Park for £174.6m, hot on the heels of advising the Frasers Group on its £686m acquisition of a portfolio of four UK business parks in November 2017.

Watson Farley & Williams (“WFW”) advised a syndicate of lenders comprising Bankia, CaixaBank and Spanish government-owned SAREB on the financing granted to Redevco Iberian Ventures for its acquisition of a majority stake in the Parque Corredor shopping centre in Madrid. The buyer, a joint-venture between Redevco and Ares Management, closed the deal last week, acquiring a 70% stake in the third largest shopping centre in Madrid.

Watson Farley Williams LLP (“WFW”) advised NYK Nippon Yusen Kabushiki Kaisha  (”NYK”) on the execution on 26 January 2018 of its long-term charter contract with EDF LNG Shipping, a subsidiary of the electricity major, Electricité de France (“EDF”). The contract is for the chartering of a newly built liquefied natural gas (LNG) carrier for seven years, with optional extension periods for up to thirteen additional years.

Slaughter and May advised Just Group plc on its issuance of £230 million Subordinated Tier 3 Notes due 2025. The Notes bear interest at the rate of 3.500 per cent per annum and are listed on the Euro MTF Market of the Luxembourg Stock Exchange.

ABN AMRO, Barclays and NatWest Markets acted as Joint Lead Managers.
Contacts

Financing: Stephen Powell (partner), Caroline Phillips (partner), Andrew Chaplin (associate), Xian Wei Yeo (associate); Tax: William Watson (partner), Jamshed Bilimoria (associate)

Herbert Smith Freehills has advised the joint lead managers of Westpac Banking Corporation’s (Westpac) offer of new Additional Tier 1 capital securities known as Westpac Capital Notes 5 (Notes), which will seek to raise up to A$750 million, with the ability to raise more or less (Offer).

Westpac also announced a reinvestment offer under which eligible holders of Westpac CPS may apply to sell some or all of their Westpac CPS and reinvest the proceeds in the Notes (Reinvestment Offer).

DLA Piper represented SoftBank Vision Fund in connection with its US$300 million investment in Wag Labs, Inc., a Los Angeles-based startup that provides on-demand mobile dog care services.

Founded in 2014, Wag! is focused on providing dog walking, dog sitting and dog boarding services on an on-demand basis via its mobile app. Wag! currently serves millions of customers in more than 100 cities.

Ashurst advised SEB AG on financing the acquisition of Schroth Safety Products (Schroth), a global leader in the development and manufacturing of occupant protection systems for specialised applications in aerospace, motorsports, defense, and medical transport, by international private equity firm Perusa. The purchase was part of a management buyout (MBO) with Perusa Partners Fund 2, L.P. as majority shareholder as well as dedicated Schroth managers from both Germany and the United States of America. Schroth was sold by its parent company TransDigm Group Incorporated.

Addleshaw Goddard's North West Corporate team has advised J Murphy & Sons on the acquisition of Carillion's UK power framework business.

The transaction will see the transfer of 22 employees to Murphy, as the global infrastructure company takes over Carillion's position on National Grid’s electricity overhead lines, substation and underground cable framework contracts, following the liquidation of Carillion.