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Scandinavian-German dairy group Arla plans to merge with Milch-Union Hocheifel and the UK’s Milk Link. The transaction is currently awaiting approval from the EU competition authorities and the consent of the membership meetings of the companies involved.
A team from CMS Hasche Sigle led by Dr Malte Bruhns advised Milch-Union on all legal and tax aspects of this complex transaction.
The merger will see Arla expand its worldwide sales by around EUR1.5 billion to a total of EUR9 billion. It also creates the third-largest dairy in Germany. At its headquarters in Pronsfeld in the Eifel region, Milch-Union operates Europe’s most
Oaktree Capital Management is to recapitalize Diamond Foods’ balance sheet with an investment of USD225 million in the branded, packaged food company.
Concurrent with the closing of this investment, Diamond will amend its credit agreement with its existing lenders. The recapitalization will result in a capital structure that supports the Company’s long term strategy as well as the execution of its current business plan. The recapitalization will allow Diamond to further strengthen the Company’s leadership position in the walnut industry, continue the growth of its snack business and reduce the amount of existing bank debt. The transactions are expected to
SEI has extended its relationship with Key Capital Investment Management Limited to include an operational outsourcing solution for the firm’s private equity business.
Key Capital’s private equity offering is designed to provide family offices and high-net-worth private clients with exposure to a pre-identified list of Europe’s leading private equity firms including Apax, Cinven, CVC, Equistone, and Permira. The extension of SEI’s services is in recognition of the company’s cutting-edge technology, strong service model, and global reputation and presence.
Under the agreement, SEI will provide a full range of services for Key Capital’s private equity business including accounting, administration services, treasury,
Legislation, such as Basel III and the Volcker Rule – part of the Dodd-Frank Act in the US – coupled with liquidity concerns and a fall in client appetite, has resulted in a decline in banks’ involvement in the private equity asset class, a Preqin study reveals.
Banks accounted for 11% of all private equity capital in 2008 but this figure fell to 8% in 2011. Despite this, 74% of banks interviewed by Preqin stated that their private equity investment programs had not been affected by regulatory changes, and 55% felt it unlikely that such changes would impact their level
Pangaea Ventures Ltd has held a first close of Pangaea Ventures Fund III, LP, having attracted the initial USD50 million into the target USD100 million USD fund.
Limited Partners in the new fund include world-leading industrials Asahi Glass Co Ltd, Asahi Kasei Innovation Partners, Inc, nv Bekaert sa, 9th Street Investments (a CoorsTek affiliate), JSR Corporation, Mitsubishi Chemical Holdings Corporation, Murata Manufacturing Co Ltd, Nitto Denko Corporation and SABIC Ventures BV. The fund exclusively invests in early stage cleantech companies with compelling advanced materials technologies.
Chris Erickson, General Partner of Pangaea Ventures, says: "We are pleased that our proprietary deal flow
Munich-based venture capital firm Target Partners has led a seven-figure financing round for adeven GmbH, a technology company headquartered in Berlin and London, that verifies and optimizes mobile advertising campaigns for publishers and advertisers in real time.
The financing will support the company’s international growth.
Adeven GmbH analyzes the overall context of mobile advertising campaigns, including the number of screen inserts. The company focuses on apps and mobile websites. "We process over 20 GB of data from Apple’s app store alone, and extract more than 100 billion individual data points, which we analyze, evaluate, and prepare", stated Paul H Müller,
The Private Equity investment company sector was hit hard by the credit crunch, with the average discount widening out to 51% at the end of 2008. Whilst this has affected the Private Equity sector’s previously strong longer-term performance figures, over the shorter-term the sector has bounced back and is up 62% over the last three years to 30 April 2012 compared to 43% for the wider investment company sector.
Tim Spence, Finance Director at Graphite believes that the listed Private Equity sector has come a long way since then, and balance sheets are in general much more robust. He does
The Taipei office of global law firm K&L Gates LLP has appointed Paul J Cassingham as a senior legal consultant in its corporate practice. He joins K&L Gates from Yangming Partners.
Cassingham advises clients in the electronics, chemicals, industrial equipment, and other sectors on an array of corporate matters, including joint ventures, mergers and acquisitions, infrastructure projects, cross-border investment, and taxation. He regularly counsels and speaks on topics related to foreign investment in Taiwan and U.S./Taiwan political and economic relations.
“We are happy to have Paul join us and his practice adds on to the platform of services that
As Denmark prepares to issue its first ever inflation-linked bond at auction on 24 May, David Dyer, Senior Fixed Income Portfolio Manager at AXA Investment Managers, discusses the size of the inflation-linked bond market and looks at why institutional investors should consider going global in their allocations…
Today, the Danish government will become the newest entrant to the global inflation-linked bond market. They propose to issue an inflation linked 2023 government bond at auction, to the value of up to 6 billion Danish crowns (or USD1.06 billion) and have already had strong indications of interest.
The Danes will join a
Some 30 emerging markets private equity funds raised USD7.8 billion in the three months ended 31 March 2012, compared to 46 funds that raised USD9.9 billion in the first quarter of 2011, according to figures released by the Emerging Markets Private Equty Association (EMPEA).
On the investment side, 198 deals were completed for USD4.8 billion through 31 March 2012, compared to 217 deals completed for USD8.5 billion in the first quarter of last year.
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