Leading global law firm Herbert Smith Freehills has advised state-owned China Shipbuilding Industry Corporation (CSIC) on the issue of US$1 billion bonds exchangeable into shares of Hong Kong- listed Postal Savings Bank of China (PSBC).   

The zero coupon exchangeable bonds due 2025 are supported by a securities lending agreement and a keepwell deed, and will be listed on the Frankfurt Stock Exchange. It marks CSIC's first public transaction into the overseas capital markets.

Ambitious Midlands Business Targets Further UK Growth

Telford-based outsourced waste management services provider, Reconomy, has hit the acquisitions trail again and announced the purchase of Waste Check Limited.

Waste Check is based in Bromsgrove and was established in 2008 by Mark and Karl Jenkins. It offers a complete range of waste management services to commercial, domestic, industrial, demolition and construction companies, with a large presence in the private hospital and care centre sectors.

Global law firm Norton Rose Fulbright recently secured a major win in New Jersey Senator Robert Menendez’s alleged corruption case. On Wednesday, January 31, 2018, the Department of Justice (DOJ) abandoned and moved to dismiss the corruption case it pursued against the firm’s client, Senator Menendez, marking a complete reversal, on its part, of its prior decision to pursue a retrial in the case. A three-month trial in the fall of 2017 ended with a hung jury where news reports stated that the votes for acquittal were 10 to 2.

International law firm Pinsent Masons has advised sustainable energy systems developer Arenko Cleantech on its investment to build one of the world's largest energy storage facilities.

The new energy storage system, a 41MW battery storage project supplied by General Electric (GE) will provide affordable, on-demand power equivalent to the needs to 100,000 UK homes. Pinsent Masons worked to negotiate the strategic alliance between Arenko and GE.

Slaughter and May advised Ocado Group plc on a placing of approximately 4.9% of its existing ordinary share capital which raised gross proceeds of £143,158,925. The placing, which announced on 6 February 2018, was conducted as an accelerated bookbuild process. Goldman Sachs International and Numis Securities Limited acted as joint bookrunners and joint corporate brokers in connection with the transaction.

Slaughter and May advised Redrow plc on the amendment and extension of its existing unsecured revolving credit facility. The facility was extended to 31 December 2022. The participating banks are Barclays Bank Plc, Lloyds Bank plc, The Royal Bank of Scotland plc, Santander UK plc, Svenska Handelsbanken AB and HSBC Bank plc.

Contacts

Financing: Edward Fife (partner), Andrew Chaplin (associate), Kesten Laverty (trainee)

International law firm Taylor Wessing has advised Inflexion Private Equity on its backing of the management buyout of leading Dutch IT outsourcing training business Calco Group BV.

The cross-border deal brought together the private equity teams from Taylor Wessing UK and Taylor Wessing Netherlands.  The firm’s UK team was led by partner James Goold with senior counsel Matt Harrison and associate Catherine Williams, while the Dutch team was led by partners Edwin de Rooij, Evert-Jan Osnabrugge and Elmar Dijkstra with associate Willem Thijssen.

Travers Smith LLP has acted as special tax counsel to Gates Industrial Corporation group in respect of a US $731.5 million initial public offering of Gates' shares on the New York Stock Exchange, giving the group a market capitalisation in excess of $5 billion.

Gates, a portfolio company of The Blackstone Group L.P., is a global manufacturer of innovative, highly engineered power transmission and fluid power solutions. Gates offers a broad portfolio of products to diverse replacement channel customers and to original equipment manufacturers as specified components.

Watson Farley & Williams (“WFW“) advised Blue Elephant Energy AG (“BEE”), on its acquisition of a 22 MW solar portfolio in Italy, from Viridis Energia S.r.l. (“Viridis”).

The portfolio, located in the Marche and Abruzzo regions, comprises 15 operational plants.

Watson Farley & Williams (“WFW”) has advised insurance intermediary group Global Risk Partners Ltd (“GRP”) on its acquisition of a majority stake in Camberford Law Plc (“Camberford Law”), the Bromley-based specialist MGA. The deal has received regulatory approval and the consideration is undisclosed.