Deals

Asia Pacific

Lyreco Group announces the acquisition of DeskRight

Lyreco Group today announced the acquisition of DeskRight, a leading office supplies business on the Singapore market. The move puts Lyreco, European leader and number three worldwide in the distribution of workplace supplies solutions to businesses, in a leadership position on the Singapore market and represents the first step in its new development...

HSA Advocates advised a consortium of four ports in relation to strategic sale of Dredging Corporation of India by Government of India

HSA Advocates represented a consortium of four ports Vishakapatnam Port Trust, Paradeep Port Trust, Jawaharlal Nehru Port Trust and Deendayal Port Trust in relation to strategic sale of Dredging Corporation of India concluded by Government of India (GoI). The four ports have acquired 100% of GoI's shares in Dredging Corporation of India (i.e. 73.47%...

Duff & Phelps enhances restructuring and dispute offering with acquisition of Zolfo Cooper Asia

Expands Footprint in Greater China Region Duff & Phelps, the global advisor that protects, restores and maximizes value for clients, today announced the acquisition of Zolfo Cooper Asia, a leading independent provider of restructuring, insolvency, litigation support and forensic accounting services. The combination of Duff & Phelps and Zolfo...

Investcorp launches in India with acquisition of IDFC Alternative’s Private Equity and Realty Businesses

Entry in to India expands footprint of direct investments into Asia Investcorp a leading global provider and manager of alternative investment products, today announced the launch of its operations in India with the imminent completion of its first deal, the acquisition of the Private Equity and Real Estate investment management businesses of IDFC...

China, Japan overseas M&A push to extend in 2019

China’s economic growth slowdown to drive dealmaking abroadJapanese companies may continue to seek large foreign dealsCompanies in China and Japan will continue their pursuit of overseas acquisitions this year amid the economic growth slowdown and geopolitical uncertainty, according to JPMorgan Chase & Co. Ready availability of capital will...

Europe

Boohoo buying Debenhams: a changing of the guard in retail

Deal by 15-year-old online upstart shows how Covid crisis has further shifted sales away from high streetDebenhams to close all stores with 12,000 jobs at riskThe symbolism is stark: a venerable 243-year-old department store chain acquired by a 15-year-old online upstart. Debenhams will disappear from British high streets after its sale to Boohoo, swallowed...

Shell agrees deal to buy electric car-charging company ubitricity

Acquisition expected to be finalised by end of year as race gathers pace to corner marketShell has agreed to buy one of Europe’s largest on-street electric car-charging companies to accelerate its move into low-carbon transport.The oil company, which faces growing pressure to cut its carbon emissions, expects the deal to buy German car-charger ubitricity...

Asos emerges as contender in Topshop bidding war following Arcadia breakup

Potential purchase could spell bad news for store staff as retailer operates only onlineAsos has emerged as a serious contender in the bidding war for Topshop as a narrowing field of bidders vies for control of one of the high street’s best-known fashion brands.The brand is part of Sir Philip Green’s fashion empire Arcadia which collapsed into administration...

Wetherspoon moves to buy up property on the cheap amid Covid crisis

Pub chain seeks new London sites, as ex-Greene King boss leads separate buying spreeCoronavirus – latest updatesSee all our coronavirus coverageWetherspoon has unveiled plans to expand by buying up property after prices plunged due to the pandemic, while a new venture fronted by the former boss of Greene King is looking to purchase small pubs and...

Next drops bid to buy Topshop after Arcadia's breakup

Firm says it couldn’t meet the asking price for flagship of Philip Green’s former fashion empireNext has pulled out of the race to acquire Topshop, the jewel in the crown of Sir Philip Green’s collapsed fashion empire Arcadia, after rival bidders trumped its offer.Arcadia, which employed 13,000 people across 500 outlets when it fell into administration...

Mena

ÜNLÜ & Co advised on transfer of Anadolu Restoran shares to Birlesik Holding

ÜNLÜ & Co advised on transfer of Anadolu Restoran shares to Birlesik Holding Share purchase agreement has been signed for the sale 100% shares of Anadolu Restoran İşletmeleri Ltd. Şti. (“Anadolu Restoran”), (one of the leading pioneers in the QSR market) to Birlesik Holding Limited. Turkey’s leading investment services and asset management...

Israel’s Magenta Venture Partners announces first closing of a new $100M fund focused on early stage Israeli startups

Israeli VC firm Magenta Venture Partners announced today a new venture capital fund targeting $100 million. The new fund had its initial closing in October 2018 and is planning its final closing in 2019. Magenta Venture Partners is an equal partnership between Mitsui & Co. Ltd., one of the largest trading and investment companies in Japan,...

Roquette invests in Israeli seed breeding company Equinom

The companies signed an agreement to develop high-protein pea varieties for food markets Roquette, a global leader in plant-based ingredients for Food, Nutrition and Health markets and a pioneer in new vegetal proteins, and Equinom Ltd., an innovative Israel based breeding technology company, have signed a partnership agreement for the development...

Maitland acquires Talaria, launches Maitland Family Office

Cross-border specialist wealth service likely to appeal to those needing offshore estate planning Maitland, the global advisory and administration firm, has announced the formation of Maitland Family Office, a multi-family office to service high net worth families, individuals and entrepreneurs in South Africa. The new entity will be one of the...

MENA drops 57.6% in value of M&A

The value of mergers and acquisitions in the Middle East and North Africa region declined by 57.6 per cent in 2017, despite the deal count maintaining almost the same level as the previous year, according to Mergermarket, a provider of M&A data and intelligence. For full year 2017, 126 deals worth approximately $16 billion (Dh58.76 billion) were recorded...

International

M&A Projections: Safe Harbor? Don’t Count On It

Anne Lipton has an interesting blog that addresses the lengths to which judges will go to avoid providing liability protection to projections that look to be. . . well . . . a little on the “shady” side.  She focuses on two recent cases involving alleged “lowballing” of a seller’s projections in order to make […]Read...

M&A Finance: A Look Back At 2020 & Issues For 2021

Financing markets nearly shut down when the pandemic hit, but in contrast to the experience following the onset of the 2008 financial crisis, they didn’t stay that way for long.  This Wachtell memo reviews the acquisition finance market during 2020 and raises some issues that will be on the radar screen in 2021. Here’s the […]Read...

When M&A Goes Wrong: Lessons From Divestitures

This recent Deal Law Wire blog from Norton Rose reviews a 2020 study addressing why companies divest businesses. The study found that a staggering 77% of divestitures are attributable to M&A failures. The blog says that the study identified two driving forces behind these “corporate divorces” – post-acquisition industry shocks...

January-February Issue: Deal Lawyers Print Newsletter

This January-February Issue of the Deal Lawyers print newsletter was just posted – & also sent to the printer (try a no-risk trial). It includes articles on: –  An Extraordinary Course: Important Lessons from the Delaware Court of Chancery Decision in AB Stable VIII v. MAPS Hotels – Background of the Merger: Drafting Tips –...

Controller’s Receipt of “Non-Ratable Benefit” Mandates Entire Fairness Review

Is a controlling stockholder’s “mere presence” on both sides of a transaction enough to invoke application of the entire fairness standard of review, or is something more required? That’s the question that the Chancery Court recently grappled with in In re Viacom Inc. Stockholders Litigation (Del. Ch.; 12/20). The case arose...