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Kudun and Partners have successfully represented BG Container Glass Public Company Limited, a SET-listed manufacturing company on the acquisition of shares in Prime Packing Company Limited.

The transaction was divided into two phases, of which we successfully completed the first phase of the acquisition involving the purchase of 75% of the total shares in Prime Packing Company Limited for a total value of THB 214.2 million. This is a significant milestone for BG Container Glass Public Company Limited and is part of a larger transaction that involves the acquisition of 100% shares in Prime Packing Company Limited, with an estimated total value of THB 580 million.

This complex transaction involved a comprehensive range of legal services, including negotiation, due diligence, contract negotiations, and closing.

Chai Lertvittayachaikul, partner and head of renewable energy practice, led the transaction, with assistance from associates; Rujisaya Bubpaprohm, Viparat Timprathuang, Korapat Sukhummek and Natthamol Dechpokked.

The post Kudun and Partners Represents BG Container Glass Public Company Limited in the Acquisition of Shares in Prime Packing Company Limited appeared first on Kudun.

The transaction involved sale of assets inter alia comprising technology, know-how, design, trademark, copyright, domain name, trade dress, customer book, inventory etc. Basic Adhesives has long been a prominent provider of adhesives and related products to the world's most prestigious luxury brands in the leather goods business. Following the transaction's completion, Basic Adhesives will provide transition support to Pidilite to ease its entry into the aforementioned domain.

The Kochhar team, led by Mumbai Resident Head & Senior Partner Rajarshi Chakrabarti, Partner Sameena Jahangir, and Principal Associate Anushree Aditi, advised Basic Adhesives on all aspects of the transaction, including reviewing, drafting, negotiating, and finalising transaction documents (such as the Master Framework Agreement, Technology Transfer Agreement, Deed of IP Assignment, and so on) and all other legal formalities related to the pre-closing and post-closing stages.

Han Kun has provided legal services as PRC counsel to the issuer in connection with the global offering and listing of Beisen Holding Limited (Stock Code: 9669) on the Main Board of the Hong Kong Stock Exchange.

According to the company's prospectus, Beisen Holding Limited is the largest provider of cloud-based human capital management (HCM) solutions in China in terms of revenues in 2021. The company delivers cloud-native SaaS products, namely its cloud-based HCM solutions, for enterprises to recruit, evaluate, manage, develop and retain talents efficiently.

“NOTE expands its manufacturing capacity through the acquisition of all shares in the Bulgarian electronics manufacturer ATM Electronics. Through the acquisition, NOTE gets its second plant in Eastern Europe. The plant in Bulgaria is expected to meet a rapidly growing need for cost-effective production close to customers in Europe.

NOTE is one of northern Europe’s leading EMS partners, producing PCBAs, subassemblies, and box-build products. NOTE’s offering covers the complete product lifecycle, from design to after-sales. NOTE has a presence in Sweden, Finland, the UK, Estonia, Bulgaria, and China.” (https://www.note-ems.com/en/press-releases/note-acquires-modern-electronics-plant-in-bulgaria/)

BOYANOV & Co.’s assistance was detrimental to the rapid preparation of the transaction, completed in exactly 2 months from its starting date till its completion. The lawyers from Boyanov & Co were in charge of the full-scale legal due diligence of ATM Electronics EOOD, the drafting, and negotiation of the bilingual transactional documentation, and last but not least, assisting the two parties in finding the common pace in moving the deal forward and understanding the each other’s approach and expectations from the deal and its format. The careful planning and preparation secured the smooth closing of the deal within the indicated deadlines despite the aggressive timeline.

Lawyers who formed the BOYANOV & Co. team for this deal – Yordan Naydenov, Mihail Vishanin, Nikol Rahmanlieva.

Paris, April 21, 2023 – Do-it-yourself solar panel provider MonKitSolaire is opening up to a financier for the first time. The company, founded in 2014, is raising €6M in a capital increase from Impact Expansion. Through this equity and quasi-equity (OCA) contribution, the management company is making the third investment of its first-time fund, whose first closing at €50M was announced last November. The fund thus becomes a minority investor alongside the three founders.

MonKitSolaire assembles and supplies solar panels in BtoC. Individuals have to install them themselves, for a lower cost than if they had it done by a supplier – the kits cost between 2,000 and 9,000 euros. The electricity supplied is then self-consumed.

The entire turnover of the company, i.e. more than 10 M€, is achieved in France, but MonKitSolaire plans to export, in particular to Spain or Poland. For the time being, the recruitment of Sellers and technical advisers remains its priority, because the demand, boosted by the energy crisis, exceeds the capacities of the company.

A team of law firms, led by Munich-based Heuking Partner Boris Dürr, advised CANCOM SE on the acquisition of K-Businesscom-Group and all its subsidiaries. The merger will create one of the leading IT corporations in the DACH region. In the future, customers of both enterprises will benefit from the combined expertise for IT and digitalization solutions. At CANCOM, the acquisition will lead to an increased market presence in the DACH region and an extensive expansion of solution and service capacities.

Heuking's team of lawyers worked closely with colleagues from law firms DORDA (Austria) and NNDKP (Romania) on the transaction. The aforementioned three law firms are members of World Services Group (WSG), one of the leading law firm networks worldwide. Since K-Businesscom is particularly active in the Austrian market where it is headquartered, DORDA, led by M&A partners Dr. Martin Brodey and Dr. Christian Ritschka, also assumed an important role in the transaction. The Heuking team led by Boris Dürr had already advised CANCOM SE on previous M&A transactions, for example, on the sale of its UK business to Telefónica Group (link to news item dated July 30, 2021).

The transaction was structured such that part of the consideration is to be paid in cash and part in shares of listed CANCOM SE. The value of the direct consideration is approximately €165 million; in addition, financial liabilities of approximately €37 million will be redeemed. As part of the consideration, current shareholders will receive 3.5 million new CANCOM shares with a market value of more than €100 million, which will be issued by means of a capital increase against contribution in kind. Closing of the transaction is subject to approval of the antitrust authorities.

K-Businesscom is Austria's leading ICT solutions and service provider. It generated revenue of around €520 million and EBITDA of around €28 million in fiscal 2022/23 with about 1,650 employees. K-Businesscom is operating in digital business engineering for IT and business consulting as well as software development in Austria, Germany, Switzerland, Romania, and the Czech Republic. Simultaneously to CANCOM's takeover of K-Businesscom, K-Businesscom acquired all shares in Swiss systems integrator Belsoft Infortix AG, whose focus on data center, network, and security most recently generated revenue of around €12 million with 35 employees. The acquisition reinforces K-Businesscom's good position in the Swiss market.

CANCOM SE is one of the leading IT systems houses in Germany with a focus on digital transformation, cloud computing, and IT security. As a hybrid IT integrator and service provider, CANCOM delivers a range of services and solutions that includes business solutions and managed services such as cloud computing, analytics, enterprise mobility, IT security, hosting, and as-a-service offerings. CANCOM Group’s range of IT solutions includes consulting, implementation, services, and the management of IT systems, thus the entire spectrum needed by CANCOM's customers for digital transformation. In fiscal 2022, CANCOM generated revenue of around €1.3 billion and an EBITDA of around €100 million with approximately 4,000 employees. The shares are listed on the Regulated Market (Prime Standard) of Frankfurt Stock Exchange and also on SDAX and TecDAX; current market capitalization is more than €1.1 billion.

Buenos Aires, May 29th, 2023. On April 20th, Promedon S.A. issued its first Notes Issuance (Series I Notes) under the PYME CNV Garantizadas regime (SME Guaranteed Regime). Series I-Class II Notes, issued for a total nominal amount of US$3,714,491, will mature on April 20th, 2026, and will not accrue interest. In addition, the principal of the Notes will be amortized in three payments structured as follows: the first payment at 24 months for 33% of its capital, the second payment at 30 months for 33% of its capital, and the third payment at 36 months for 34% of its capital.

Series I Notes were admitted for listing on Bolsas y Mercados Argentinos S.A. and authorized for trading at Mercado Abierto Electrónico S.A.

The notes are guaranteed by Banco Comafi S.A., Banco de la Provincia de Córdoba S.A., Banco de Servicios y Transacciones S.A., and Banco Supervielle S.A. Additionally, Dracma S.A., Supervielle Agente de Negociación S.A.U, and Comafi Bursátil S.A. acted as placement agents along with the guarantee entities.

In this Notes Issuance, all parties involved turned to Beccar Varela’s team, led by Luciana Denegri, who was assisted by Julián Ojeda and María Belén Tschudy.

Morgan & Morgan Legal represented MMG Global Allocation Fund, Inc. (“MMGGFAF” or the “Fund”) before the Superintendence of Capital Markets (“SMC”) in the registration of the amendment of the terms and conditions of the public offering of its participating shares and the authorization for the conversion from a simple closed-end fund into a closed-end umbrella fund, which also required increasing its authorized legal capital in order to offer additional participating shares of different classes, each of which will represent and have an interest in an investment portfolio or assets operated as separate sub-funds, each segregated and independent. The Fund is authorized to offer up to 500,000,000 of its participating shares in different classes, through the Latin American Stock Exchange (Bolsa Latinoamericana de Valores, S.A.)

MMG Bank Corporation has been engaged as Payment and Transfer Agent, as well as Custodian and Placement Agent of MMGGAF, and MMG Asset Management Corp., acts as Investment Manager.

Ricardo Arias, partner, Ana Carolina Castillo, partner, and associate Arantxa Fernandez, participated in this transaction.

ATLANTA/SAVANNAH, Ga. – Morris, Manning & Martin advised Kim King Associates and Ross Hotel Partners in their joint venture with Procaccianti Companies for a unique hospitality deal in Savannah. Not only did the team acquire Savannah’s President Quarters Inn, it also is developing a brand new property called the Sabal House Savannah Hotel. The upscale boutique hotel will have 62 rooms in the heart of Savannah’s Historic District when completed in 2025.

The MMM team is led by Dan Weede and Alex Hegner in Atlanta. Full-service real estate firm Kim King Associates and hotel developer/advisor/owner’s representative Ross Hotel Partners are both based in Atlanta. Procaccianti Companies is one of the nation's premier real estate investment and services firms. Its corporate headquarters is in Rhode Island with its Eastern Regional Office in Atlanta.

Dinsmore & Shohl LLP corporate partners Christian Gonzalez and Michael Dailey led the Firm’s M&A team in representing LCNB Corp. (“LCNB”) (NASDAQCM: LCNB), in their acquisition of Cincinnati Bancorp Inc. (“CNNB”), in a stock-and-cash transaction.

The companies announced the agreement May 18, 2023.

CNNB operates five full-service branch offices in Cincinnati, Ohio and northern Kentucky, and has approximately $304.7 million in assets, $262.9 million in loans, $223.6 million of deposits and $40.3 million in consolidated stockholders’ equity.

This transaction will significantly increase LCNB’s presence in the Cincinnati market, and expand their community banking franchise into northern Kentucky.

In October of 2022, Gonzalez and Dailey announced Dinsmore M&A teams played roles in signings of three public company deals within a week. Since then, all three have closed and more are in the works.

Haynes and Boone LLP represented Earthstone Energy, Inc. in the financing for the company’s $1 billion acquisition of Novo Oil & Gas Holdings, LLC.

Announced June 15, 2023, the transaction is expected to close in the third quarter of the year.

The Novo acquisition, Earthstone said, is expected to be funded with cash on hand and borrowings under Earthstone’s senior secured revolving credit facility. In conjunction with the Novo acquisition, Earthstone has secured $250 million of incremental commitments from existing lenders. This increases elected commitments under Earthstone’s credit facility from the current $1.4 billion to $1.65 billion and provides for ~$1.2 billion in undrawn commitments at closing based on $452 million debt outstanding as of March 31, 2023.

The Haynes Boone deal team included Austin Elam, partner and co-chair of the Oil and Gas Practice Group, along with Senior Associate Reem Abdelrazik and Associate Grant Armentor.

Haynes Boone’s Oil and Gas Practice represents domestic and foreign public and private companies that conduct operations across the country in the domestic resource plays and shale plays (including the Midland and Delaware Basins, Eagle Ford, Barnett, Haynesville, Wolfberry, Marcellus, Utica, Niobrara, Woodford, and Bakken/Three Forks) and internationally. Haynes Boone received the highest ranking, National Tier 1, for its Oil & Gas Practice in the 2022 U.S. News & World Report and Best Lawyers "Best Law Firms" directory.

Founded in 1970, Haynes and Boone, LLP provides a full spectrum of legal services across multiple sectors, including energy, financial services, private equity, and technology. The firm’s more than 650 lawyers practice in California, Colorado, Illinois, New York, North Carolina, Texas, Virginia, and Washington D.C., as well as London, Mexico City, and Shanghai. Haynes Boone was recognized in the 2022 BTI Consulting Group’s “A-Team” report, which identified firms commended by in-house counsel for superior client service, and was ranked 14th in The American Lawyer’s 2023 Diversity Scorecard, which evaluated 228 participating firms by the diversity of their attorney populations. For more information, visit haynesboone.com.

Suntera is a Jersey headquartered provider of fund, corporate and private wealth services including administration, accounting and governance. The firm has operations in the Bahamas, the Cayman Islands, Guernsey, Hong Kong, the Isle of Man, Jersey, Luxembourg, Malta and the US. Guernsey based Carey is a locally owned boutique provider of private wealth, corporate and fund services with more than £75 billion assets under administration.

Following its acquisition of Carey, Suntera's Guernsey service offering will be bolstered with addition of 80 new staff members and clients in more than 50 countries.

The Carey Olsen team acting as lead counsel to the shareholders of Carey was led by Guernsey corporate partner Tom Carey and supported by senior associate Melissa Wilkins.

Tom commented: "We are pleased to have advised long standing client Carey on its sale to Suntera. The transaction will provide the business with an opportunity for continued impressive growth together with further investment which will allow it to enhance its offering of private wealth, corporate and fund services."

The acquisition is subject to regulatory approval.