Allen & Overy has advised the lead banks on a USD25bn acquisition loan facility, to back the USD49.4bn acquisition of the 57.8% stake British American Tobacco (“BAT”) does not already own in US peer Reynolds American Inc.
Noerr has advised Landesbank Baden-Württemberg (LBBW) and Siemens Bank GmbH on financing an investment by Deutsche Beteiligungs AG (DBAG). In this transaction the DBAG Fund VI advised by DBAG acquired the majority of the shares in the automotive supplier Dieter Braun by way of a buyout. The seller is the private equity firm Seafort Advisors. Besides DBAG, the management will also hold shares in Dieter Braun in future.
White & Case LLP has advised the bank syndicate comprising BNP Paribas, Crédit Agricole Corporate and Investment Bank, Deutsche Bank, HSBC and Société Générale on the financing of Elis' €510 million acquisition of Indusal (Spain) and Lavebras (Brazil).
The acquisitions, announced in December 2016, were financed through a bridge loan signed in November 2016, which will be refinanced by a €325 million capital increase launched on January 19, 2017, and a new €1,150 million senior syndicated loan signed on January 17, 2017.
Ashurst advised DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main (DZ Bank), Deutsche Apotheker- und Ärztebank (apoBank) and SEB AG (SEB) on the financing of the acquisition of the Margarethenhof Group by nursing home operator DOREA, a portfolio company of Quadriga Capital Private Equity Fund IV L.P.
The parties have agreed to maintain confidentiality regarding the purchase price. The transaction is subject to the approval of the relevant cartel authorities.
Ashurst advised an international bank consortium led by UniCredit Bank AG on granting a €800 million credit facility to Scout24 Group (Scout24), a leading operator of digital marketplaces across Europe including platforms ImmobilienScout24 and AutoScout24.
The new credit facility is inter alia intended to replace the Group's existing bank financing.
Ashurst advised NIBC Bank Deutschland AG (NIBC) and SEB AG (SEB) on financing the acquisition of think! project GmbH (think!), a Germany-based provider of cloud solutions for cross-enterprise collaboration on projects, by private equity firm TA Associates. think! was sold by its founder Thomas Bachmaier and SME-investor Walter Beteiligungen und Immobilien AG.
Slaughter and May advised Deutsche Bank as arranger on the financing of HC-One’s acquisition of Helen McArdle Care. The acquisition consists of 19 existing care homes and another care home currently under construction, as well as the ‘At Home’ business which offers homecare in the Newcastle upon Tyne area.
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Shearman & Sterling advised PINOVA Capital on the financing of the acquisition of the Wertheim-based WEETECH GmbH (“WEETECH”), a leading manufacturer of cable- and function-test systems. PINOVA Capital’s investment in WEETECH strengthens the company’s leading market position and advances its internationalization strategy, especially its expansion in the Asian market.
EQT, the private equity investment firm, completed in January 2017 an acquisition through fund EQT VII of AutoStore – a unique automated storage and retrieval system which uses robotics for collecting stored goods in a warehouse with more than 130 installations to date in 22 countries.
The acquisition was financed inter alia by a senior secured credit facility made available by five Nordic banks with DNB Bank ASA acting as agent. For further information, see press release by EQT here.
Gernandt & Danielsson advises Scandi Standard AB (publ) in its refinancing by two five-year credit facilities of in aggregate SEK 2,200 million which also allow for a future increase of the facilities of an additional SEK 1,250 million.
Scandi Standard is the largest producer of chicken-based food products in the Nordic region with leading positions in Sweden, Denmark, Norway and Finland. The company produces, markets and sells ready to eat, chilled and frozen products under the brands Kronfågel, Danpo, Den Stolte Hane and Naapurin Maalaiskana.