Societe Generale's car leasing unit ALD wins EU nod for LeasePlan buy. (FS)
EU antitrust regulators cleared with conditions French car leasing company ALD's bid for Dutch rival LeasePlan after the Societe Generale unit agreed to divest some businesses across Europe to address competition concerns.
ALD announced the $5.5bn deal in January, which would give it ownership of the biggest electric vehicle fleet in Europe. The European Commission said ALD agreed to sell its operational leasing businesses in Ireland, Norway, Portugal and LeasePlan's businesses in the Czech Republic, Finland and Luxembourg to address competition worries, Reuters reported.
LeasePlan is advised by PricewaterhouseCoopers, AXECO Corporate Finance, Goldman Sachs, UBS, De Brauw Blackstone Westbroek (led by Pete Lawley and Mariken van Loopik), Freshfields Bruckhaus Deringer (led by Hervé Pisani, Rafique Gabriel Bachour and James Scott) and Sullivan & Cromwell (led by Ben Perry, Eric M. Diamond and Olivier De Vilmorin). Societe Generale is advised by Citigroup, Rothschild & Co (led by Eric Lacroix de Vaubois, Georges Amatoury and Cyril de Mont-Marin) and Societe Generale. ALD is advised by JP Morgan, Bredin Prat (led by Matthieu Pouchepadass) Darrois Villey Maillot Brochier (led by Bertrand Cardi and Christophe Vinsonneau), Linklaters (led by Mariken van Esch, Cyril Boussion, Bruno Derieux, Will Aitken-Davies, Christian Ahlborn and Dan Schuster-Woldan), NautaDutilh (led by Stefan Wissing) and Plesner (led by Emil Deleuran and Simon Lindvig Rasmussen). Financial advisors are advised by White & Case (led by Marc Petitier).
Aveva shareholders have backed an improved offer for the UK software developer from France’s Schneider Electric, ending a takeover battle that will strip the London market of one of its major technology companies.
The two companies said that enough investors had accepted Schneider’s revised price of $39 per share, an increase on an initial bid of $37.5 per share that some had rejected as opportunistic. Including debt, the deal values Aveva at $12.8bn,
FT reported.
Saria, a company which operates internationally as a manufacturer of quality products for animal nutrition, agriculture, aquaculture and industrial applications, agreed to acquire Devro, a manufacturer of collagen products for the food industry, for $653m.
"The proposed combination of Devro and the SARIA group will bring together two leading international businesses with complementary product portfolios, particularly in the sausage casings market, providing a platform for sustainable and scalable growth in highly attractive and dynamic categories," Harald van Boxtel, Saria Chief Executive Officer.
Devro is advised by Numis Securities (led by
Stuart Dickson), Lazard (led by
Matt Knott), Clifford Chance, Shepherd & Wedderburn and FTI Consulting (led by
Richard Mountain). Saria is advised by JP Morgan (led by
Dwayne Lysaght), Travers Smith, PricewaterhouseCoopers (led by
Duncan Skailes) and Powerscourt (led by
Victoria Palmer-Moore).
Ontario Teachers’ Pension Plan Board, a priavte equity firm, agreed to acquire a 25% stake in SSEN Transmission, an energy transmission company, from SSE, an energy company, for £1.46bn ($1.8bn).
“SSEN Transmission is one of Europe’s fastest growing transmission networks. Its network stretches across some of the most challenging terrain in Scotland – from the North Sea and across the Highlands – to deliver safe, reliable, renewable energy to demand centres across the UK. We’re delighted to partner again with SSE and are committed to supporting the growth of its network and the vital role it plays in the UK’s green energy revolution," Charles Thomazi, OTPPB Senior Managing Director.
OTPPB is advised by Evercore, Linklaters and Kekst CNC (led by
Oliver Mann). SSE is advised by Morgan Stanley, Rothschild & Co and Freshfields Bruckhaus Deringer (led by
Julian Pritchard and
Nicholas Jones).
Indutrade, a technology and industrial group, agreed to acquire a 70% stake in Palas Holding, a manufacturer of high-precision instruments, from Brockhaus Technologies, a technology group, for €70m ($72m).
“Palas has extensive technical expertise and offers high-quality products with leading technology that helps improve air quality levels across the globe. The company has a solid track record of sustainable, organic growth and high profitability. Underpinned by strong underlying market forces, they have a clear path for continued organic growth and we are happy to welcome them to the Indutrade family," Bo Annvik, Indutrade President and CEO.
Indutrade is advised by Rothschild & Co.
Invesdor Group, a digital fundraising and investing company, agreed to merge with Unknown Group-backed Oneplanetcrowd, a cloudfunding platform. Financial terms were not disclosed.
“This merger paves the way to accelerate European innovation and the energy transition in the EU. Focussing on growth companies and sustainable energy projects, we are the first platform in the EU to offer this broad range of sustainable financing propositions, connecting investors, project developers and companies in different EU member states," Christopher Grätz, Invesdor Co-Founder and CEO.
Czechoslovak Group, an aerospace and defense company, completed the acquisition of a 70% stake in Fiocchi Munizioni, a manufacturer of ammunition. Financial terms were not disclosed.
"This transaction marks a major milestone for the entire CSG, as the investment in Fiocchi is the largest financial investment in the history of our group. Today we become the majority shareholder and partner of a global leader in the field of small-caliber ammunition, with a solid presence in NATO countries. Fiocchi Munizioni, like CSG, has been built by several generations of the Fiocchi family. We consider the Fiocchi family's commitment to the management and development of the company to be a strong asset and we want to further develop the company in close partnership with them," Michal Strnad, CSG Chairman.
Fiocchi Munizioni was advised by Citigroup.
KKR completed the acquisition of a majority stake in April Group, an insurance brokerage firm, from CVC Capital Partners, a private equity firm. Financial terms were not disclosed.
“The APRIL Group was created 35 years ago by a visionary entrepreneur. After a great collaboration with CVC Capital Partners, April recovered its original strength. Our aim is to continue the history of this great company and to make it a French champion on a global scale. This next chapter will be enabled by the management team, our 2.3k employees, and KKR, for the benefit of our partners and policyholders,” Eric Maumy, April President & CEO.
April Group was advised by Monet + Associés.
Nucleus Financial is in advanced talks to acquire Curtis Banks.
Nucleus Financial Platforms, a financial services company, is in advanced talks to acquire Curtis Banks, a provider of personal pension schemes.
The UK financial-services company said that Nucleus is conducting detailed confirmatory due diligence, but cautioned that there's no certainty any deal will be struck.
Curtis Banks is advised by Fenchurch Advisory Partners, Peel Hunt and Instinctif Partners. Nucleus is advised by TB Cardew and Evercore.
