Allocations
Mourant Ozannes BVI has advised MegaFon, a Russian telecommunications company, on its USD740 million acquisition of a controlling stake in Mail.Ru Group, the internet and social media group.
Mail.Ru was acquired from USM Holdings, MegaFon's controlling shareholder.
Cleary Gottlieb acted as onshore counsel to MegaFon.
MegaFon has acquired 11.5 million class A shares and 21.9 million ordinary shares representing approximately a 63.8 per cent voting stake in Mail.Ru from New Media and Technology Investment, New Media Technologies Capital Partners and Ardoe Finance (each a subsidiary of USM).
MegaFon paid USD640 million for the shares on completion and
Africa-focused private equity firm DPI’s ADP I Fund has sold its 27.7 per cent shareholding in CAL Bank in Ghana to Arise, a financial services investment company whose major shareholders are Norfund, Rabobank and FMO.
The deal is due to complete on 14 February 2017.
CAL Bank is one of Ghana’s leading independent banks and is active in corporate, retail and investment banking. CAL Bank is listed on the Ghana Stock Exchange and is the third largest bank in Ghana based on loans advanced. With the support of Arise, CAL Bank is well-positioned to deliver future growth in Ghana,
Sovereign Capital is to back the management buy-out of Arachas Corporate Brokers, an insurance brokerage operating in Ireland.
Sovereign will work with the management team to further grow and develop the business through a strategy of buy and build.
The transaction is subject to approval from the Central Bank of Ireland.
Established in 2004, Arachas is a corporate, SME and affinity scheme brokerage delivering exclusive insurance facilities and financial planning services to the Irish business community.
The business, which employs over 130 people in its offices in Dublin, Cork and Waterford, will continue to be led by
Middle market private equity firm Calera Capital has acquired a majority stake in the Evans Network of Companies, a provider of intermodal and other trucking services through a non-asset based agency model.
Bo Bates, Evans’ CEO, the Evans family and management will retain a significant equity interest in the business. Terms of the transaction were not disclosed.
James Halow, managing director of Calera Capital, says: “Evans has a long and successful track record of supporting and growing its agent network and servicing agents, drivers and shippers with a comprehensive and highly value-additive offering. We are excited to be partnering
Mourant Ozannes has acted as Cayman Islands counsel for the buyer group in connection with the take-private of China Nepstar Chain Drugstore, a Cayman Islands exempted company formerly listed on the New York Stock Exchange.
The take-private was effected by way of a Cayman Islands statutory merger, pursuant to which China Nepstar ceased to be a publicly traded company and became a wholly-owned subsidiary of the buyer group.
China Nepstar Chain Drugstore is a retail drugstore chain in China. As of 30 September 2015, the company had 1,965 directly operated stores across 71 cities, one headquarter distribution centre and
Palatine Private Equity-backed holiday park group Verdant Leisure has acquired its seventh leisure park.
Crosslaw Caravan Park in the Scottish Borders is the third holiday park purchase in the last nine months for the bespoke leisure park operator.
The park will be renamed Coldingham Bay Leisure Park with immediate effect and it brings Verdant Leisure’s portfolio to seven parks across southern Scotland and North East England.
This latest acquisition continues the company’s growth strategy to create a strong regional group with significant scale. Verdant Leisure is keen to add further parks to its offering during 2017.
Located
Shard Capital Partners has held the first closing of the Suir Valley Venture Fund of Suir Valley Funds ICAV, the first Irish focused venture capital fund in Ireland that uses a regulated fund with a fully regulated Alternative Investment Fund Manager (AIFM).
The fund invests in early stage software companies in the financial technology, augmented reality, virtual reality and internet of things sectors.
The fund’s first close has been funded via commitments of up to EUR20 million from Enterprise Ireland, the Irish Government Agency, and Shard Capital.
UK based Shard Capital will be managing the fund in Ireland
Cloud solutions provider (CSP) Cloud Direct has acquired Connect Support Services, following hot on the heels of its January acquisition of AOG Group, a Microsoft gold partner for hosting and communications.
In previous months, Cloud Direct acquired Redblade in July 2016, ihotdesk in December 2015 and Datel Business Systems in June 2015.
The acquisition of Connect Support Services further strengthens Cloud Direct’s customer services and technical support capabilities. As a gold Microsoft CSP partner, the acquisition bolsters Cloud Direct’s offerings around Microsoft Azure, Office 365 and hosted desktop.
Brett Raynes, founder and CEO of Cloud Direct, says: “Connect Support Services brings great people with a
One of First Allied Securities’ affiliated independent financial advisory firms, Lifestyle Financial Advisors, has completed the merger of the Laura A Nagle independent advisory practice into its organisation.
Nagle, a 35-year industry veteran, has joined Lifestyle with more than USD167 million in client assets, as of 31 October 2016.
First Allied, an affiliate of Cetera Financial Group, a network of independent firms, assisted in facilitating the transaction in support of Michael A Wegner, CWS, founder, president and CEO of Lifestyle.
Kevin Keefe, president and chief executive officer of First Allied, says: “First Allied is very pleased to have
Palamon Capital Partners has completed the sale of SARquavitae, an elderly care provider in Spain for EUR550 million.
Palamon sold SARquavitae’s operating business to GeriaVi, which holds Geriatros, another leading player in the Spanish elderly care market, and is a subsidiary of DomusVi (a PAI Partners portfolio company) for EUR440 million.
SARquavitae’s property companies were sold to Eurosic Lagune, a third party real estate investor, in a separate transaction prior to the sale. Both sales have together generated a combined investment return of 3.0x for Palamon.
SARquavitae is the largest elderly care services provider in Spain, operating 88 facilities
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12 November, 2026 – 8:00 am
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