Deal Week Dispatch: 29/8/07
Deal Week Dispatch brings readers an early taster of news from Legal Week's unparalleled deals coverage, with Cleary, A&O and Ashurst among the movers and shakers
August 29, 2007 at 08:27 AM
3 minute read
Deal Week Dispatch brings readers an early taster of news from Legal Week's unparalleled Deal Week section.
M&A
Cleary Gottlieb Steen & Hamilton has advised telecom operator Tele2 on the $232m (£117m) sale of shares in Tele2′s Russian regional cellular operator, Corporation Severnaya Korona. Cleary fielded a team out of Russia and London including UK corporate partner Andrew Curran. Akin Gump Strauss Hauer & Feld advised the purchaser, VimpelCommunications, led by London corporate partner Sebastian Rice.
Allen & Overy advised Kaupthing Bank on its €3bn (£2.04m) acquisition of Dutch bank NIBC under Amsterdam corporate partners Sietze Hepkema and Maarten Muller and London corporate partner Alun Eynon-Evans. Cleary Gottlieb Steen & Hamilton London partner Michael McDonald (pictured) advised the selling shareholders consortium, led by JC Flowers & Co.
Taylor Wessing has advised private equity group Rutland Partners on its £51.5m acquisition of Pulse Home Products from Alba. Corporate partners Tim Eyles, Nick Hazell and Mark Davis led the team. Hammonds corporate partner David Hull advised Alba. Addleshaw Goddard corporate partner Tim Hamilton advised management. Herbert Smith advised CIT Capital Finance, which provided debt facilities.
Addleshaw Goddard corporate partner Philip Goodstone has advised Nord Anglia Education on the sale of its nursery division, Leapfrog Nurseries, to Busy Bees for £31.2m. DLA Piper Birmingham corporate head Russell Orme advised Busy Bees.
FINANCE
Allen & Overy has advised arrangers EFG Telesis Finance, Banco Millennium BCP Investimento and Bayerische Hypo- und Vereinsbank on the €477m (£325m) financing of the Thessaloniki submerged tunnel project in Greece. The team was led by London banking partner Yannis Manuelides. Karatza & Partners corporate partners Alexander Metallinos and Christina Faitakis advised on Greek law. McDermott Will & Emery banking partner Andrew Watson advised the consortium of sponsors. Freshfields Bruckhaus Deringer partner Bobby Stewart advised the financiers, European Investment Bank.
COMMERCIAL
Ashurst has advised Reuters on the outsourcing of its information services and technology functions to Fujitsu Services in a deal worth around £50m annually. Commercial associate Christopher Bates led the team, working with commercial partner Clive Tucker and Reuters, acting general counsel for the Europe, Middle East and Africa region, Kirsty Whitehead. Baker & McKenzie acted for Fujitsu in relation to employment, pensions and finance aspects.
Trowers & Hamlins has advised Wasabi Energy on its joint venture with US private equity fund AMP Capital Partners. The joint venture vehicle, Global Geothermal, will focus on the delivery of efficient geothermal and waste heat power stations and technology. Corporate partner Andrew Watkins led the Trowers team. Nabarro corporate partner Patrick Speller acted for AMP.
In Deal Week tomorrow…
Don't miss tomorrow's edition of Legal Week for commentary on the tit-for-tat real estate hiring between Clifford Chance and BLP, plus deals from firms including White & Case, Trowers & Hamlins and SJ Berwin.
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Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
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