Featured Europe Experience
Lenders in Restructuring of Latécoère
A Willkie team from London, Paris and Washington, DC recently closed the financial restructuring of Latécoère SA, a Toulouse-based company operating globally in the aviation and aerospace sector. Willkie acted for funds advised by Apollo and Monarch, who led a lender working group. Completion of the restructuring, which comprised a partial debt-for-equity swap and new money injection, saw Apollo and Monarch becoming substantial shareholders in the company and taking on anchor investor, sponsor-style roles with significant board representation.
HBC in €2.82 Billion Deal to Acquire Major German Department Store Chain
Willkie represented Hudson’s Bay Company, the Canadian owner of Saks Fifth Avenue, Lord & Taylor and other leading department stores, in its €2.82 billion cross-border deal to acquire German department store chain Galeria Kaufhof, Galeria Inno (Belgian subsidiary) and Sportarena from METRO AG.
Two Major Healthcare Public-Private Partnership (PPP) Projects in Turkey
Willkie is advising on the first two healthcare PPP projects in Turkey, a €550 million facility in Adana, and a new 476-bed hospital in Yozgat.
Lenders and Anchor Investors in Vivarte’s €2.5 Billion Restructuring
Willkie represented members of the ad hoc lender committee and anchor investors as part of the financial restructuring of the French fashion retailer Vivarte, marking the largest-ever fully consensual French restructuring. The restructuring involved a debt for equity swap/write off of €2 billion and a €500 million infusion of new money.
Arkema in Proposed €1.74 Billion Acquisition of Bostik
Willkie is advising Arkema, a global chemical company and France’s leading chemicals producer, which has proposed to acquire Bostik from French oil company Total SA for a total enterprise value of €1.74 billion.
Prudential in a Record $27 Billion Longevity Risk Transfer Transaction with British Telecom
A cross-border team represented Prudential in a $27 billion (£16 billion) longevity risk transfer deal covering approximately 25% of BT Pension Scheme’s liabilities associated with increases in life expectancy of its beneficiaries. The matter is the largest single longevity transaction on record.
Wendel Acquires Constantia Flexibles
A cross-border, multidisciplinary deal team from Willkie’s Frankfurt, Paris, London, Brussels and New York offices represented Paris-listed private equity firm Wendel in its agreement to acquire a majority interest in Constantia Flexibles, one of the world leaders in flexible packaging. Constantia is valued at €2.3 billion.
Thales Group in Closing of $400 Million Acquisition of LiveTV from JetBlue
Willkie advised Thales in the completion of its acquisition of LiveTV, a company that revolutionized the inflight entertainment space.
Rockwood in $1.98 Billion Sale of CeramTec
A multidisciplinary, cross-border team represented specialty chemicals company Rockwood Holdings, Inc. in its deal to sell CeramTec, its advanced ceramics business, to European private equity firm Cinven.
German Advertising Company Scout24 in $2 Billion Sale
Willkie served as counsel to Scout 24 in Deutsche Telekom’s sale of a 70 percent stake in Scout24 to San Francisco-based Hellman & Friedman LLC.
Orange in French Supreme Court Victory
The firm obtained a significant victory for France-based multinational telecom company Orange in a competition dispute with Cowes (formerly Subiteo). The Commercial Chamber of the French Supreme Court reversed a December 2012 decision of the Paris Court in the dispute.
3i in $643 Million Sale of Hilite International
Willkie client 3i Group plc announced the $643 million sale of Germany’s Hilite International, a leading global supplier of highly engineered automotive engine and transmission components, to AVIC Electromechanical Systems Co., Ltd., a subsidiary of Aviation Industry Corporation of China.