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Joe Truelove (pictured), Head of Fund Services at Carey Group explores the uses of offshore stock exchanges, such as the Channel Islands Securities Exchange…
The key reasons for listing a company on an offshore stock exchange are in principle the same as those of listing a company on an onshore exchange – to raise capital or to give existing shareholders an opportunity to sell their shares to unknown third parties in a transparent manner.
Both the Channel Islands Securities Exchange (CISE) and the Cayman Stock Exchange (CSX) are exchanges recognised by HMRC. Under the Individual Savings Account (ISA) rules, investors
Ogier has advised Sky on the sale of an 80% stake in its online betting and gaming business, Sky Betting & Gaming (Sky Bet), to funds advised by CVC Capital Partners and members of the Sky Bet management team.
The deal valued Sky Bet at GBP800 million.
Ogier teams provided advice on Jersey law issues and laws within the Bailiwick of Guernsey. Ogier group partner Simon Dinning led the Jersey aspects with Alex Curry in Jersey, while Frances Watson and James Cooke covered the Bailiwick of Guernsey laws.
Simon Dinning, says: “We were delighted to assist Sky and
Kinetics Energy Services has closed a private equity financing with Natural Gas Partners, through its affiliate, NGP Natural Resources XI (NGP).
Kinetics is focused on acquiring, integrating and growing North American energy services & equipment companies providing well completions and production enhancement.
Chaden Lassoued, Chief Executive Officer of Kinetics, previously spent two decades in key leadership roles with Schlumberger Limited, undertaking assignments in the Middle East, North America, Latin America, Europe, Africa and Asia. Most recently, Lassoued served as President of Well Intervention where he led more than 9,000 employees and had responsibility for approximately USD3 billion in global revenue.
idverde, a French provider of landscape construction and grounds maintenance services, has acquired The Landscape Group (TLG), a leading ‘green service’ provider in the UK.
idverde was advised on the transaction by Livingstone’s Business Services sector team.
idverde was created in February 2014 following the buy-out of the French landscape construction and grounds maintenance activities of international service group ISS, backed by Paris-based investor Chequers Capital. Chequers has supported idverde’s acquisition of TLG from London-based mid-market investor Elysian Capital, consolidating the group’s position as the first green services specialist operating in several European countries.
idverde is the largest landscape construction
GO Scale Capital, an investment fund sponsored by GSR Ventures and Oak Investment Partners, is to acquire an 80.1% interest in Philips' combined LED components and Automotive lighting business, Limiteds.
Philips will retaining the remaining 19.9% interest. The transaction values the business at an enterprise value of approximately USD3.3 billion. The transaction is expected to be completed in the third quarter of 2015, subject to closing conditions, including customary regulatory approvals.
Following the transaction, the new company will continue under the name Lumileds, led by CEO Pierre-Yves Lesaicherre. Philips will remain an important customer of Lumileds and will continue the
ARYZTA is to make a strategic investment with Lion Capital in Picard, a speciality premium French food business.
ARYZTA values the enterprise at EUR2.25bn, based on estimated Fiscal Year End March 2015 run-rate revenues and adjusted run-rate EBITDA of EUR1.37 billion and EUR192 million respectively. Under the terms of the investment, ARYZTA would acquire a 49% shareholding in Picard for a consideration of EUR446.6 million, largely funded with the net proceeds from the Origin placement (EUR400m net of fees and taxes). Picard would be treated as an Associate and expected to make a net contribution of 3 per cent to
Affiliates of Vector Capital have successfully completed the acquisition of Saba, a specialist in cloud-based intelligent talent management solutions.
Under the terms of the merger agreement adopted by Saba stockholders on 26 March, 2015, Saba stockholders will receive USD9.00 per share in cash, which equates to an enterprise value of approximately USD400 million.
“We are very pleased to announce the completion of the acquisition of Saba,” says David Fishman, Managing Director and Head of the Private Equity Team at Vector Capital. “We are excited to deliver value to Saba’s impressive customer base and further invest in the leading cloud talent
Private equity firm Permira has selected iLEVEL to manage its portfolio data.
Established in 1985, the Permira funds have made over 200 private equity investments internationally, with total committed capital of approx. EUR25 billion. The Permira funds invest primarily in consumer, financial services, healthcare, industrials, and technology sectors.
“Given the complex nature of our funds’ investments, we needed a system that was both flexible and easy to manage,” says Jörg Rockenhäuser, Partner at Permira. “iLEVEL will enable us to centralize data across a diverse portfolio and maintain high levels of confidence in the numbers we use internally to drive decision making
Global valuation and corporate finance advisor Duff & Phelps has promoted eight new managing directors.
“These eight professionals personify Duff & Phelps’ commitment to best-in-class expertise and superior client service,” says Noah Gottdiener, CEO of Duff & Phelps. “I welcome the diversity of skill they bring to our already talented team of managing directors and wish them ongoing success at our firm.”
Ann Gittleman is based in New York and is part of the Disputes and Investigations practice, having joined the firm with the recent Kinetic Partners acquisition. Gittleman acts as a consulting and testifying expert to her clients in
Macquarie Mexican Infrastructure Trust has agreed to make a follow-on investment in Mexico Tower Partners (MTP) to fund the acquisition of a significant portfolio of wireless and broadcast telecommunication sites in Mexico.
Scotiabank is the agent and bookrunner for the debt financing of the acquisition. Scotiabank Inverlat, SA Institucion be Banca Multiple, Grupo Financiero Scotiabank is the agent and bookrunner for the debt financing of the acquisition.
“We continue to believe the wireless tower industry in Mexico presents attractive opportunities for independent operators such as MTP and are pleased to announce this additional investment,” says Jonathan Davis Arzac, Chairman, MMIF.
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