740 Jobs Saved As Liberty Acquires British Automotive Supplier
Leading law firm Irwin Mitchell has advised on a deal which has seen vehicle pressings and assemblies manufacturer, CovPress, being acquired by fast-growing industrial group, Liberty House.
CovPress, a professional metal stamping and robotic assembly specialist, is a Tier 1 supplier to, among others, Jaguar Land Rover, Renault and GM and Landis+Gyr.
Dentons assisted Valle Aurelia Mall in negotiating €46 million in medium-long term financing from Natixis. The financing, split into three credit facilities, will be used to cover project costs associated with the development of Valle Aurelia Mall, a 20.000 sq.m. shopping center, which is being built on Via Ubaldo degli Ubaldi in the Monte Ciocci district of Rome. The shopping center will include a supermarket and approximately 60 shops. The opening is scheduled within 2017. Valle Aurelia Mall is indirectly controlled by Orion European Real Estate Fund IV.
Watson Farley and Williams LLP (“WFW”) advised Nordea Bank AB (publ), filial i Norge (“Nordea”) in relation to a US$409.5m revolving credit loan facility for Euronav. The loan will refinance a US$500m facility signed in 2014 on which WFW also acted for Nordea and will provide Euronav with funds for general corporate and working capital purposes. Mandated lead arrangers are ABN AMRO Bank NV, Danish Ship Finance, DNB (UK) Limited, ING Bank, Nordea Bank AB (publ), filial i Norge and Skandinaviska Enskilda Banken AB (publ). The facility refinances 11 VL
Shearman & Sterling advised BayernLB on the financing of the acquisition of HOFFMANN Fördertechnik GmbH (“HOFFMANN“), one of the leading manufacturers of lifting gear, by AFINUM Siebte Beteiligungsgesellschaft mbH & Co. KG as part of a succession regulation.
The acquisition of HOFFMANN Fördertechnik is the seventh deal from its latest buyout fund AFINUM Siebte Beteiligungsgesellschaft mbH & Co. KG, initiated on October 2013.
Dentons has advised Cathay Investments Limited, the UK-based chemical and distribution industries investment company, and its wider group Cathay on its senior term and revolving credit facilities with HSBC Bank plc. The facilities are primarily being used for Cathay's acquisition of Lantor, the well-known Dutch and German producer of nonwovens for the cable and composites industry.
White & Case LLP has advised SPIE, a leading European multi-technical services company, on the financing of the acquisition of SAG, the German leader in high-growth energy infrastructure services, announced at the end of December 2016. The transaction, estimated at approximately €850 million, will enable SPIE and SAG to create a German leader in multi-technical services.
NEW YORK/SINGAPORE, December 23, 2016 - Milbank, Tweed, Hadley & McCloy LLP represented a group of lenders including Goldman Sachs Australia Pty Ltd, UBS Securities LLC, HSBC Bank Australia Limited (as first lien lenders) and Partners Group Limited and its affiliates (as second lien lenders) in the take-private of ASX-listed SAI Global, a Baring Private Equity Asia portfolio company. The transaction, valued at AUS $1 billion, closed on December 23, 2016.
New York, 22 December 2016 – Hogan Lovells has advised Banco Cuscatlán in El Salvador in creating and sponsoring a new diversified payment rights securitization program (DPR). Titularizadora de DPRs Limited, a special purpose vehicle organized in the Cayman Islands, borrowed US$100 million of Series 2016-1 Loans. Credit Suisse was the sole lender.
The transaction closed on December 9, 2016.
The Hogan Lovells team included New York partners Emil Arca and Oscar Stephens, and associate Rebecca Francus.
The Freshfields team advising on the transaction was drawn from across Freshfields’ global network and was led by partner Ward McKimm
Stallergenes Group, a global healthcare group specializing in the diagnosis and treatment of respiratory allergies, has successfully raised a revolving credit facility amounting to EUR 50 million. The facility takes the form of a revolving credit line composed of one single tranche and is provided by UBS Switzerland AG. The new revolving credit facility, which is subject to customary closing conditions, is for general corporate and working capital purposes and the refinancing of an existing facility of Stallergenes Group.