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On February 22, 2024, the worldwide pioneering luxury lifestyle battery electric vehicle maker Lotus Technology Inc. ("Lotus Tech") closed a merger transaction with the special purpose acquisition company ("SPAC") L Catterton Asia Acquisition Corp (Nasdaq symbol: LCAA). On February 23, 2024, Lotus Tech officially listed its shares on Nasdaq under the ticker symbols "LOT" and "LOTWW".

Han Kun provided legal services to Lotus Tech throughout the de-SPAC listing process.

Lotus Tech has operations across China, the UK, and the EU. The company is dedicated to delivering luxury lifestyle battery electric vehicles, with a focus on world-class R&D in next-generation automobility technologies such as electrification, digitalisation and more.

Kudun and Partners has successfully represented Tiong Woon Crane and Transport Pte. Ltd. — a leading integrated heavy lift specialist and service provider and a subsidiary of Tiong Woon Corporation Holding Ltd., listed on the Singapore Exchange — in its strategic alliance and first major cross-border asset acquisition of transportation, heavy haulage, and heavy lifting equipment from Mammoet, a Netherlands-headquartered engineered heavy lifting and transport company, in Thailand.

Troy Schooneman, Partner and Head of International Practice, together with Yanin Sirilak, senior associate, led the successful completion of the deal, with support from associates: Korapat Sukhummek, Kamonrat Kongtheing, Viparat Timprathuang, Jeeranant Geevorakulnont, Kodchakorn Laungratanamas, Napassaporn Trakulroong, and Suphatcha Sirilapanan.

More information: Tiong Woon and Mammoet Asia form strategic alliance with Thai market focus

The post Kudun and Partners represents Tiong Woon Crane and Transport Pte. Ltd. in its first major M&A deal in Thailand appeared first on Kudun.

Kochhar & Co. is pleased to announce its role as a legal advisor to the Spectris Group, a global leader in high-tech precision instrumentation and controls, in the Indian leg of its strategic divestiture of the Red Lion Controls business to HMS Networks.

The transaction involved the transfer of the Red Lion Controls division from Spectris Technologies Private Limited to HMS Industrial Networks India Private Limited.

Kochhar Delhi Partner Nishant Arora led the transaction, with support from Associate Akhil Verma. The team advised the Spectris Group on all legal aspects of the transaction, including reviewing, drafting, negotiating, and finalizing transaction documents and other legal formalities requisite for the successful closure of the transaction.

MinterEllison advised superfunds on the largest logistics development deal near Sydney's new Aerotropolis. The site known as Burra Park will be developed into a logistics and industrial hub.

MinterEllison has advised Richmond Bridge, and capital partners UniSuper and ISPT on a significant off-market transaction, Burra Park, a 280-hectare greenfield logistics development site, in a 50/50 joint venture and managed by Richmond Bridge.

Richmond Bridge as investment manager for UniSuper and ISPT will develop Burra Park delivering prime manufacturing, warehouse and logistics estate over the next seven years with an expected value on-completion of over $3.9bn.

The property, situated immediately adjacent to the entrance of the new Western Sydney International Airport (WSI), stands as the largest parcel of Enterprise Zoned land within the Western Sydney Aerotropolis, offering unparalleled development flexibility and poised to capitalise on the region's demographic and economic expansion, solidifying its position as a premier logistics and industrial hub. Currently under construction, WSI is scheduled to commence operations in 2026, with the aim to become Sydney's largest airport.

MinterEllison Partner and Real Estate Industry Leader Carla Deluca led the expert Property, Tax, Construction, Banking, Environment and Planning and Commercial Regulatory team. Carla was supported by Partners Adrian Varrasso, Nathan Deveson, Rhys Guild, Daniel Marks, Catherine Macrae, and Senior Associates Drew Woods, Wendy Lim and Melinda Waduge who advised on all aspects of the transaction – due diligence, land acquisition and tax structuring.

Carla Deluca commented on the transaction:"MinterEllison is proud to have advised Richmond Bridge, UniSuper, and ISPT on this landmark acquisition of Burra Park, a substantial investment in Australia's logistics infrastructure. This was a fantastic result for our client and reinforces the strategic growth opportunities available for our clients in the current logistics and industrial real estate market."

MinterEllison is a longstanding adviser to Richmond Bridge and UniSuper, having acted on numerous deals together including,UniSuper's $1.1 billion industrial property acquisition from National Pension Service of KoreaandUniSuper’s $105million industrial development site in Yarraville, Melbourne.

Parcel4You, a Danish based provider of postal shipment services in Europe, has been sold to Link Logistics, a portfolio company of Polaris. Plesner acted as legal counsel for the seller on the transaction.

Parcel4You was established in 2011 and is an independent Danish provider of distribution services in the e-commerce market with headquarters in Silkeborg and offices in the Netherlands and Poland. Link Logistics is market leading in courier and e-commerce solutions with headquarter in Denmark. The combined company will have 320 employees and annual revenue exceeding DKK 1 billion.

The joint expertise of both companies is expected to create new opportunities in the growing e-commerce market, particularly in Europe and the US.

Parcel4You was founded by Thomas Bloch, who will re-invest and continue as managing director in the company.

Plesner's core M&A team on the transaction was Martin Anton Svarrer, Jakob Schmidt Jensen, Gustav Gerner Sjalin and Andrea Laurenborg.

We have advised Lords LB Asset Management in closing aproject finance transaction involving aEUR 45 million loan from the European Bank for Reconstruction and Development and funds managed by Eiffel Investment Group.

The borrower is aholding company, PL-SUN sp. zo.o., incorporated in Poland for the purpose of constructing and operating aportfolio of solar power plants. It is owned and sponsored by aLithuanian closed-end investment company, UAB Atsinaujinančios Energetikos Investicijos (AEI), focused on renewable energy investments and managed by Lords LB Asset Management. AEI currently operates aportfolio of around 250 MW in Poland and Lithuania.

The construction bridge financing loan, in equal contributions of EUR 22.5 million from each institution, will finance the construction of aportfolio of 16 photovoltaic power plants with atotal installed capacity of 114.7 MW across Poland. The plants are projected to generate atotal of 122.5 GWh of electricity and cut 88,000 tonnes of carbon dioxide emissions annually.

Our advice included structuring of the transaction, negotiation and drafting of financing documentation, and assisting in fulfilment of conditions for disbursement of the loan.

Our team consisted of Konrad Werner(counsel), Patryk Jackiewicz (associate), and Łukasz Szegdaas the partner supervising the team.

The lenders were advised by Dentons.

Arendt & Medernach acted as Luxembourg legal advisor to Morgan Stanley, J.P. Morgan, BTG Pactual, Santander, Citigroup, and HSBC as underwriters on Auna S.A.’s US$360 million initial public offering of 30 million class A shares that began trading on the New York Stock Exchange on 22 March 2024 under the ticker “AUNA” at a price of US$12.00 per class A share.

The offering settled on 26 March 2024.

Luxembourg based Auna S.A. is a healthcare company and one of the largest and most recognized actors in the Latin American healthcare industry with operations in Mexico, Columbia and Peru, prioritizing prevention and concentrating on high complexity diseases that contribute the most to healthcare expenditures.

Arendt & Medernach represented the underwriters alongside Cleary Gottlieb Steen & Hamilton LLP as underwriters’ US counsel.

JEANTET assists SWEN Capital Partners (via SWIFT 2 – SWEN Impact Fund for Transition 2) in this second round of funding, alongside Bpifrance and RGREEN INVEST, historical financial partners of founder Gilles LEBREUX. This new fundraising allows LANGA INTERNATIONAL to enter a new phase in its development.

From its origins in 2008, when the Langa Group was solely dedicated to the French market, LANGA INTERNATIONAL operates on a dual model, as both a developer and producer of renewable energies (IPPs). Since its creation, the company has already developed 800 megawatts of renewable energy projects, mainly in Europe and in several island territories.

The company’s founder, a pioneer and visionary in the renewable energies sector, has implemented the appropriate development efforts to enable the company to now boast a significant portfolio of multi-technology projects (photovoltaic, storage, wind and hydro) with a total capacity of over 6 gigawatts, including 400 megawatts already in operation or ready for construction.

The second round of capital investment by the company’s founders, Bpifrance and RGREEN INVEST, as well as SWEN Capital Partners, will enable LANGA INTERNATIONAL to pursue its development efforts and build the most advanced projects, mainly in Europe and in island territories where the client is active.

SWEN Capital Partners will bring to LANGA INTERNATIONAL its entrepreneurial vision of the energy transition businesses, as well as its experience of international markets.

Shoosmiths' M&A team continues to be at the forefront of major public to private deals, having recently advised on three substantial transactions.

The firm acted for Main Market listed Ten Entertainment Group plc, one of the UK’s largest ten-pin bowling operators, on its proposed £287 million takeover by US private equity firm Trive Capital. If approved, the deal announced at the beginning of December, would take the company private. The shoosmiths team advising Ten Entertainment Group was led by partners Nick McCarthy and Oliver Pilkington, with support from Emma Livesey, Mandeep Vryaparj and Chloe Mackay.

Ten Entertainment's CFO Antony Smith, thanked Shoosmiths for their expertise on getting the deal to this stage, describing the advice received as ‘outstanding’.

Reflecting a recent rise in the number of takeover bids for London-listed companies, the firm also advised AIM-listed Smoove plc, a mortgage software provider, on its takeover by Digcom UK Holdings, an indirect subsidiary of Australian property platform PEXA Group, in a deal worth £30.8m, by way of a scheme of arrangement (effective 19 December) led by Nick McCarthy and Andrew Millar.

In November Nick led the team advising the directors of Rotala Group Ltd, a privately owned investment vehicle formed specifically for the purpose of acquiring West Midlands-based bus operator Rotala PLC. Upon the scheme of arrangement becoming effective, the £23.5m proposed takeover of the AIM-listed business, will see it taken private towards the end of January.

These deals also follow a raft of delisting where the firm recently acted on the delistings of Fulcrum Utility LTD and Source Bioscience PLC.

Equity capital markets partner, Nick McCarthy, said: "Shoosmiths’ extensive experience advising both corporates and financial sponsors on public takeovers demonstrates our leading capabilities. We have an exceptional track record guiding clients through the entire ‘take private’ process, from planning to completion. These transactions showcase the strength and versatility of our deals practice.”

Equity capital markets partner, Oliver Pilkington added: “In the dynamic landscape of equity capital markets, Shoosmiths continues to lead the way in navigating transformative deals. Our recent successes in steering major public-to-private transactions underscore our commitment to excellence. Whether advising London Stock Exchange giants or AIM-listed innovators, our expertise shines through, proving that Shoosmiths is the trusted partner for strategic and high-value public M&A transactions.”

These recent successes demonstrate Shoosmiths deep expertise, guiding clients through strategically complex and high-value public M&A transactions. Our experience and senior deal team positions us strongly for further high-profile instructed roles as the private equity appetite for UK Plc remains robust.

Morgan & Morgan Legal acted as Panamanian legal counsel to Cirsa Finance International S.à.r.l. (the “Issuer”), in connection with the offering (the “Offering”) pursuant to the final offering memorandum dated January 30, 2024 (the "Offering Memorandum") of €650,000,000 aggregate principal amount of Senior Secured Notes consisting of €450,000,000 6.500% Senior Secured Notes due 2029 and €200,000,000 Floating Rate Senior Secured Notes due 2028 (the “Notes”), issued by the Issuer and guaranteed by its direct parent, Cirsa Enteprises, S.A.U. (the “Company”), and, among others, Gaming & Services de Panamá, S.A. (the “Panamanian Subsidiary Guarantor”, and together with the other guarantors, the “Guarantors”) and to the Purchase Agreement dated January 30, 2024 (the “Purchase Agreement”) by and among the Issuer, the Company, the Initial Purchasers listed therein and certain subsidiary guarantors listed therein.

Cirsa is one of the leading gaming companies in Spain, Italy and Latin America and is engaged in the operation of slot machines, casinos and bingo halls and the manufacture of slot machines.

Partner Roberto Vidal and associate Katia Pallares participated in this transaction.

Buenos Aires, February 15th, 2024. On February 1st, Newsan S.A. issued Class 20 Notes, whose placement was made for a total nominal amount of AR$12,000,000,000,000 —AR$7,296,326,489 paid in cash and AR$4,703,673,511 paid with Class 14 Notes—. The issuance was carried out under the global program for the issuance of short, medium, and long-term negotiable obligations for a nominal amount of up to US$300,000,000 authorized by the National Securities Commission (CNV).

The Notes will mature on February 1st, 2025, and will accrue interest at a variable rate equivalent to Private Badlar Rate plus a cut-off margin of 4% n.a. In addition, 100% of the principal will be amortized on their maturity date.

On January 25th, 2024, Moody’s Local AR Agente de Calificación de Riesgo S.A. rated Class 20 Notes due 2025 “ML A-1.ar”, authorized for trading at Mercado Abierto Electrónico S.A. and at Bolsas y Mercados Argentinos S.A.

IIn Class 20 Notes issuance, Newsan S.A. acted as issuer and placement agent, while Macro Securities S.A.U, Industrial Valores S.A, Banco de Servicios y Transacciones S.A, Banco Comafi S.A, Banco BBVA Argentina S.A, Industrial and Commercial Bank of China (Argentina) S.A.U, Banco de la Provincia de Buenos Aires, Banco Hipotecario S.A, Banco Supervielle S. A, Latin Securities S.A, Banco de la Provincia de Córdoba S.A, Banco Mariva S.A, BACS Banco de Crédito y Securitización S.A, Facimex Valores S.A, and Max Capital S.A. acted as placement agents.

All parties involved in the issuance turned to Beccar Varela’s team, led by Luciana Denegri, who has been assisted by María Victoria Pavani, Julián Ojeda, and Ezequiel Cubilla Mascolo.

Claro & Cía has helped Chile’s Banco del Estado acquire the remaining stake in its insurance business from the local branch of US insurer MetLife for US$28 million.

MetLife Chile enlisted Carey for the deal, which closed on 5 December.

In the deal, Banco del Estado acquired a 49.9% stake in Banco Estado Corredores de Seguros. The state bank is now the sole controller of the insurance business.

In addition to the acquisition, MetLife renewed its strategic alliance with Banco del Estado, through which MetLife has the exclusive right to sell life insurance policies to the bank’s clients. MetLife paid US$46 million to Banco del Estado for the agreement, which will last for 15 years.

The two companies first entered the alliance back in 2004, and it is understood to be the longest bancassurance alliance in the Chilean insurance market.

Headquartered in New York, MetLife has more than 90 million customers across 60 countries. In Chile, the company offers personal life insurance and health insurance products, as well as retirement savings and mortgage products.

Banco del Estado is the only public bank in Chile and was created by a government decree in 1953. The bank offers current and savings accounts, deposits, loans, credit and debit cards and online banking services.

In a strategic move to strengthen its foothold in the global shrimp industry, Mitsui & Co.,Ltd has successfully acquired a stake in Industrial Pesquera Santa Priscila (IPSP), recognized as the leading shrimp farming enterprise worldwide, based in Ecuador. BUSTAMANTE FABARA advised Mitsui on the successful closure of the transaction that took place in February 2024.

Given shrimp’s pivotal role in meeting the burgeoning demand for sustainable protein sources amid the global population and economic growth, this acquisition is timely. Shrimp, known for its low-calorie and high-protein benefits, along with a quick production cycle and efficient feed conversion, is particularly appealing to the health-conscious segment. Ecuador, positioned at the forefront of the global shrimp farming and export sector, will witness a collaborative effort between Mitsui and the founding team of IPSP. This partnership is set to drive enhancements in productivity and operational efficiencies, aiming to exceed customer expectations while upholding the highest standards of social responsibility, environmental stewardship, and product quality. This initiative further aims to cement IPSP’s leadership in the sector’s ongoing modernization efforts.

This investment in IPSP aligns with Mitsui’s strategic focus on the shrimp industry’s evolving landscape, which is characterized by increasing industrialization and concentration. Mitsui’s prior investment in Minh Phu Seafood, the largest shrimp processing company globally located in Vietnam, back in 2019, underscored its commitment to bolstering its shrimp processing and sales capabilities. By extending its value chain to encompass upstream activities like breeding, feed production, and farming, Mitsui is poised to emerge as a dominant force in the global shrimp industry.

Underlining its commitment to Wellness Ecosystem Creation, identified as a Key Strategic Initiative in its Medium-term Management Plan 2026, Mitsui is dedicated to contributing to the enhancement of life quality through the provision of healthy food options. This investment signifies Mitsui’s intent to infuse added value into its food and nutrition business cluster, with the overarching goal of supporting the achievement of a richer, healthier, and more vibrant life for people globally, by promoting health and well-being through dietary improvements.

Vouga Abogados assisted CAF - Development Bank of Latin America and the Caribbean in the granting of a USD 30 million credit line to Banco Continental S.A.E.C.A The funds provided to Banco Continental S.A.E.C.A. will be used to finance small and medium-sized enterprises (SMEs). This transaction is significant not only due to the considerable amount of funds involved but also because of its role in fulfilling the vital need for capital to fuel the development of businesses that constitute the backbone of Paraguay's economic landscape. This contributes to the business development of our country. The firm played an integral role that ranged from advising CAF during the negotiation of the credit line contract with the local bank to assisting in drafting the financing documents, conducting due diligence for the bank, and its initial disbursement. Cynthia Fatecha and Carlos Vouga led the team in providing guidance, supported by associates Belén Rodríguez and Lucas Rolón. For further information regarding this transaction or other topics related to Banking & Finance, please feel free to contact Carlos Vouga ([email protected])

Dykema, a leading national law firm, acted as legal advisor to CPS Energy in its acquisition of natural gas plants in Corpus Christi and Laredo, Texas from Talen Energy for $785 million subject to customary net working capital adjustments at closing. The two natural gas plants are an approximately 1,710-megawatt (“MW”) generation portfolio located in the South Zone of the Electric Reliability Council of Texas (“ERCOT”) market. The transaction is expected to close in the second quarter of 2024.

This transaction supports CPS Energy's generation plan. It secures an additional 1,710 MWs of power for the greater San Antonio community and will be available as soon as this summer. The addition of these units aligns with the generation plan, which includes the retirement of older units and the addition of a blend of gas, solar, wind, and energy storage.

The Dykema team that assisted with the transaction was led by Will Liebmann and included Rodrigo Figueroa, Emily Reed, Tom Alleman, Howard Iwrey, Asel Lindsey, Nick Monaghan, Robert Nelson, Andrew Sherwood, Jillie Foerster, Samantha Chaiken, Peyton Click, and Tyler Hubert.

To learn more about the details of this transaction, please see this press release.

ATLANTA – February 2, 2024 – Morris, Manning & Martin advised Sageview Capital in closing its Series A growth investment in Pennsylvania-based fintech company, LoanStar Technologies. LoanStar Technologies provides a suite of banking technology, APIs, and LOS integrations that enable embedded lending by connecting lenders and merchants to digital lending opportunities.

With over $2 billion in assets in its portfolio, Sageview Capital is a private investment firm that partners with entrepreneurs to grow software and tech-enabled businesses using a custom approach and unmatched expertise. The strategic investment will allow LoanStar Technologies to expand its sales and marketing team, further the investment into its technology platform, deepen strategic partnerships, and strengthen its balance sheet in anticipation of future growth opportunities.

The MMM team was led by Zach Crowe and includes Associate Andy Klemm.

The Buchalter Corporate practice group led by Jeremy Weitz and Tanya Viner advised Bloom Nutrition, a leading provider of greens and superfoods, in its investment by Nutrabolt, the owner of several popular product lines, including the C4 energy drink. The Buchalter team was assisted by Olivia Durnell, Jerry Janoff, Jessie Reider Cristo, Josh Mizrahi, Jenni Krengel. For more information, click here.

Hunton Andrews Kurth LLP represented MFA Financial, Inc. (NYSE: MFA) in connection with the establishment of a $300 million common stock at-the-market (ATM) offering program.

MFA is a specialty finance company organized as a REIT that invests in and finances residential mortgage assets. MFA invests, on a leveraged basis, in residential whole loans, residential mortgage securities and other real estate assets. Hunton Andrews Kurth is proud to have represented MFA in numerous capital markets transactions over the years and is one of the country’s leading law firms in representing mortgage REITs and similar finance companies on a broad range of capital markets transactions.

The Hunton Andrews Kurth capital markets team advising on the transaction was led by partners Rob Smith, Kate Saltz and Kendal Sibley, and included associates Tianlu Zhang, Elizabeth White, Patrick Tricker and Zach Roop.

Carey Olsen advises Inflexion on closing of latest fund at £1.75 billion

The Fund, which is the largest dedicated minority fund in Europe, has attracted existing and new investors from across the world, including from Asia, Europe, the Middle East, as well as the US, and includes public and corporate pension plans, sovereign wealth funds, insurance companies, asset managers and family offices.

Inflexion's Partnership Capital fund strategy focuses on making minority equity investments in entrepreneurial ventures characterised by high growth and substantial profit margins. These investments are directed towards innovative firms aiming to expedite their growth trajectory.

The Carey Olsen team advising Inflexion comprised partner Andrew Boyce, senior associate Rachel de la Haye and associate Oliver Orton.

Andrew Boyce commented: "We are pleased to have advised longstanding client Inflexion on yet another impressive fund raise for one of its strategies. On international mandates like this, Carey Olsen can leverage the full range of our private capital expertise including fund formation, regulatory and fundraising advisory."

Richard Smith, Chief Financial Officer at Inflexion, said: "We were delighted to once again work with the Carey Olsen team on this immensely successful launch of the Inflexion Partnership Capital Fund III. The support of Carey Olsen and our wider third-party advisor group contributed substantially to the efficiency and success of the launch and validates our choice of Guernsey as the domicile for our funds."