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M&A: Acquiror's Counsel

Burges Salmon advises GDF SUEZ on the acquisition of West Coast Energy

03 Apr 2014

Burges Salmon has advised GDF SUEZ on the acquisition of leading independent wind energy developer West Coast Energy (WCE). West Coast Energy has been operating in the UK for over 18 years and has successfully developed 650 MW of wind capacity, representing nine per cent of the installed onshore wind capacity in the UK. WCE has a significant pipeline of onshore wind development projects under evaluation with a capacity of 200 MW. GDF SUEZ has been working in partnership with West Coast Energy to develop wind projects since 2008.

Addleshaw Goddard advises on US$250 million Nigerian gas pipeline deal

03 Apr 2014

The Africa Business Group recently advised Seven Energy International Limited on its acquisition of the entire issued share capital of East Horizon Gas Company Limited from Oando PLC for total consideration of up to US$250 million. The deal closed on 31st March 2014 and will strengthen Seven Energy’s position as a leading independent gas marketing and distribution company in the south east Niger Delta region of Nigeria. Its gas pipeline network in the region now stands at over 260 km long.

Oversea-Chinese Banking Corp - cash offer to acquire Wing Hang Bank for US$4.95 billion

02 Apr 2014

Slaughter and May, Hong Kong, is advising Oversea-Chinese Banking Corporation Limited, the second largest financial services group in Southeast Asia by assets, on its pre-conditional voluntary general cash offer through its wholly owned subsidiary, OCBC Pearl Limited, to acquire the entire issued share capital of Wing Hang Bank, Limited (WHB).

The offer, which was announced on 1 April 2014, is for a total estimated value of HK$38,428 million (US$4.95 billion), or HK$125 per WHB share.

CONTACTS

Ashurst acts for AHG in A$116m acquisition

01 Apr 2014

Ashurst has acted for Automotive Holdings Group (AHG) in its A$116 million acquisition of Scott's Refrigerated Freightways (SRF) and JAT Refrigerated Road Services (JAT).

The purchase will be funded from existing facilities and the proceeds of a fully underwritten $115 million equity placement to institutional and sophisticated investors. Eligible shareholders will also be offered the opportunity to participate in a Share Placement Plan (SPP) and subscribe for new shares up to the value of A$15,000 at A$3.49 per new share. The SPP will be capped at A$10 million.

Ashurst advises Herstal on Manroy takeover

01 Apr 2014

Ashurst is advising FN Herstal on its recommended cash offer for AIM-listed Manroy plc. The offer values the entire issued and to be issued share capital of Manroy at approximately £16m.

FN Herstal is part of the Herstal Group, a Belgian based designer, manufacturer and distributor of firearms and related accessories for defence, law enforcement, hunting and marksmanship. Manroy is a UK based defence contractor specialising in the supply of weapons systems for land, air and maritime applications and is a long-term approved supplier to the UK Ministry of Defence.

Hogan Lovells advises Axway in connection with its potential acquisition of Systar

31 Mar 2014

Hogan Lovells assisted Axway in connection with its entering into exclusive negotiations with Systar's controlling shareholders for the acquisition of a block of shares representing 61% of Systar's capital for a total price of 34.3 million euros.

Axway is a market leader in governing the flow of data and Systar a leading provider of performance management software.

Herbert Smith Freehills advises Eldorado Gold on its successful recommended takeover of Glory Resources Limited

31 Mar 2014

Herbert Smith Freehills has advised Eldorado Gold Coöperatief UA (a wholly owned subsidiary of Eldorado Gold Corporation) (Eldorado Gold) on its successful A$30.5 million acquisition of all the outstanding shares of Glory Resources Limited (ASX: GLY) (Glory) via a recommended off-market cash takeover bid. Eldorado Gold owned 19.9% of the shares in Glory prior to the announcement of the transaction. All the issued options of Glory were also cancelled for a total consideration of approximately A$1.8 million.

Clifford Chance advises Nippon Steel & Sumikin Engineering on the acquisition of Fisia Babcock Environment

27 Mar 2014

Clifford Chance advised Nippon Steel & Sumikin Engineering Co., Ltd. (NSENGI) on the acquisition of 100% of the shares in Fisia Babcock Environment GmbH (FBE), Gummersbach (Germany), from Salini Impregilo S.p.A., Milan, for EUR 139 million. The transaction is subject to clearance from the cartel authorities.

Baker & McKenzie Advises on Private Equity Investment in Australian Healthcare Sector

27 Mar 2014

Baker & McKenzie is acting as M&A legal counsel for leading private equity firm EQT Mid Market on its acquisition of Australia’s largest medical imaging provider I-MED Network. EQT has entered into an agreement to acquire I-MED.

EQT invests in companies across the world and has four investment strategies: Equity, Mid Market, Infrastructure and Credit. This is the firm’s first investment in Australia.