Managers
Law firm Noerr has advised Scout24 on the closing a new syndicated loan facility.
Noerr’s Frankfurt partners Andreas Naujoks and Dr Torsten Wehrhahn provided the team lead in this deal.
The Munich internet group Scout24, which had its IPO a year ago, is replacing its previous syndicated loan facility granted by an international banking consortium three years before expiry of its regular term and is with this refinancing deal securing new credit lines of EUR800 million at much more attractive conditions.
This unsecured syndicated loan facility also provides sufficient flexibility for further acquisitions, enabling Scout24 to further expand
The last six months of M&A activity across the US/UK M&A corridor reached USD126 billion, with US outbound deals to the UK rising 3.6 per cent and UK outbound deals to the US falling by 20.4 per cent.
According to the Deloitte US/UK M&A Deal Monitor, the final quarter of 2016 saw UK outbound M&A leap to USD86.4 billion in value, ensuring the US/UK deal corridor performed roughly in line with the global trend for M&A.
Cahal Dowds (pictured), partner and vice-chairman of Deloitte UK, says: “Two trends stand out in the second half of 2016, the strength of
The volume of European restructurings is expected to hit its next peak in 2017, according to a survey by Debtwire in conjunction with independent investment bank Greenhill and law firm Orrick.
The study, for Debtwire Europe’s 13th European Distressed Debt Market Outlook, canvassed the opinion of 130 European hedge fund managers, distressed debt investors and private equity professionals and provides insight into their expectations for the European distressed debt market in 2017 and beyond.
“2016 proved to be another challenging year for the restructuring community, mostly as a result of a continued slim pipeline of workouts and distressed opportunities,”
A management group led by Joseph M Limber, in partnership with Ampersand Capital Partners and 1315 Capital, has entered into a definitive agreement to acquire the commercial laboratory of Genoptix.
Genoptix is a Novartis company that specialises in oncology diagnostics and informatics services.
The transaction is expected to close in the first quarter of 2017 subject to certain closing conditions. The financial terms of the transaction have not been disclosed.
Headquartered in Carlsbad, California, Genoptix is one of the largest haematopathology centres in the US, providing thousands of oncologists and pathologists across the UStates with comprehensive testing solutions
Noerr has advised Novelis, a specialist in rolled aluminium products owned by India’s Hindalco Industries, on the refinancing of its USD1.8 billion term loan B line still existing after its acquisition by Hindalco.
The refinancing and restructuring transaction was handled by an international banking consortium under the lead of the British Standard Chartered Bank, for the first time with the involvement of numerous Asian, particularly Indian, banks.
The term of the refinancing transaction is five and a half years.
The Novelis Group was advised on German law by Noerr’s lawyers Sebastian Bock (partner) and Dr Ivan Zlatanov on
Catella has acted as exclusive financial adviser to Guy Hands in raising financing for the acquisition of McDonald’s Nordic operations.
The parties have signed a share sale and purchase agreement and agreed on the master franchise agreement.
Hands will become the development licensee (DL) for the Nordic markets.
The Nordic countries consist of approximately 435 restaurants, of which more than 95 per cent are franchised, and is the clear number one QSR (Quick Service Restaurant) operator in the region. Financial terms of the transaction are not being disclosed.
Under the DL structure, McDonald’s plans to transfer
Transcend Corporate has acted as lead adviser to the shareholders of AlwaysON Group (AOG) on its sale to Cloud Direct, for an undisclosed sum.
Bracknell, Berkshire- based AOG is a GBP5.5 million revenue provider of unified communications (UC), data communication and managed data services to UK headquartered organisations, primarily mid-sized enterprises.
Services include UC/voice services and managed Microsoft Exchange and security solutions management, using an in-house core MPLS network. AOG also provides network and connectivity services and application hosting services, including Skype for Business. Managed data services include net backup and recovery services (on-premise and cloud); data archiving; and
ARX Equity Partners together with food industry entrepreneur Keith Dilworth are to acquire Nutricia Deva from Danone Group.
Deva is a Czech Republic based producer of baby fruit desserts and fruit drinks, with total annual capacity of 24,000 tons. It also holds bio and organic certifications.
ARX and Dilworth committed to acquire Deva with the aim of expanding the existing business via further organic growth and using the company as a platform to acquire complementary add-on acquisitions. As part of the transaction, Deva will enter into a manufacturing contract and will continue to manufacture baby food desserts under the
Inflexion has supported CloserStill Media’s acquisition of iLearning Forum in France.
Recently ranked number 10 in The Sunday Times HSBC International FastTrack 200 for the UK’s fastest growing exporters, CloserStill operates content-led exhibitions throughout the UK, Europe and the Far East.
Its acquisition of iLearning Forum further expands the business’s international portfolio of exhibitions.
David Whileman, head of partnership capital, Inflexion, says: “We are delighted CloserStill Media continues to expand at such a successful rate. Our partnership capital investment solution continues to meet the unique needs of high growth businesses seeking flexible investment solutions; just recently we completed
Private equity Thoma Bravo has completed its acquisition of Planview, a specialist in work and resource management (WRM).
Insight Venture Partners, a prior investor in Planview, retains a minority shareholding in the company. Financial details have not been disclosed.
Planview is the market leader in WRM, an emerging category of software that provides a comprehensive approach across a broad range of work and resource types to increase innovation capacity, improve time-to-market, and accelerate digital transformation. Planview offers its customers a diverse portfolio of solutions designed for strategic planning, portfolio and resource management, new product development, work collaboration, and enterprise
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