Law Firm News

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Law Firm News

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Freshfields Bruckhaus Deringer

Compass to sell Selecta for £772.5m
Compass Group PLC has announced that it has agreed to sell its European vending business, Selecta, to a company managed by Allianz Capital Partners GmbH for a consideration of £772.5m on a debt and cash free basis, subject to customary closing adjustments. Compass intends to return £500m of the proceeds to its shareholders by way of a share buy-back programme over the next 12 - 18 months.

Selecta is one of the market leaders in European vending. It has market leading positions in many of the 22 countries in which it is present, operating approximately 150,000 vending machines in total.

International law firm Freshfields Bruckhaus Deringer advised Compass on this transaction, as it did on the sale of the SSP and Moto businesses to Macquarie and EQT last year. The Freshfields team was led by corporate partner Farah Ispahani, with intellectual property partner Richard Lister and employment pensions and benefits partner Kathleen Healy, plus senior associates David Jackson, Sheena Singla (both corporate), Lindsey Canning and Mark Parsons (both intellectual property).

05-30-2007

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Fowler, White, Boggs & Banker, Attorneys At Law

George Guerra Joins Fowler White As Shareholder in Securities Group
George Guerra has rejoined the law firm of Fowler White Boggs Banker in the firm’s Tampa office as a shareholder in the Securities, Financial Services, and White Collar Litigation practice. Mr. Guerra concentrates his practice in commercial and securities litigation, representing individual and institutional clients in a wide range of commercial disputes in both the state and federal courts and also in arbitrations before the NASD, NYSE, AAA and the CBOE, and regulatory and disciplinary proceedings before the SEC and the various self-regulatory organizations.

According to Fowler White’s Burton Wiand, head of the firm’s Securities and Financial Services Litigation practice, “We are delighted that George has rejoined the firm. His experience as Vice-President and Associate Corporate Counsel at Raymond James Financial, Inc. and years representing industry members and their registered persons has made George one of the preeminent lawyers in the field and a significant addition to our firm.”

Mr. Guerra obtained his law degree from Stetson University College of Law and is licensed to practice in Florida and California Mr. Guerra is AV® Peer Review Rated by Martindale-Hubbell.

05-30-2007

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Dechert LLP

Dechert LLP Advises New World Resources B.V. on New Methane Gas Management Joint Venture
nternational law firm Dechert LLP represented New World Resources B.V. ("NWR"), a coal, logistics and energy holding company that is the sole shareholder in the Czech Republic's largest hard coal mining company, OKD a.s., regarding the merger of its wholly-owned subsidiary OKD, DPB a.s., a Czech coalbed methane company, with Green Gas International Limited under a new holding company Green Gas International B.V. ("GGI BV"). GGI BV will specialise in methane gas management and utilisation for coal mines and landfill sites in both the Czech Republic and internationally. NWR is the majority owner of the joint venture with a shareholding of approximately 70%.

The Dechert LLP team advising NWR was led by London private equity partner Adam Levin, assisted by James Stonehill, Vanessa Giadom, Chris Carrodus and Angela Coote.

Said Adam: "This is one of two deals Dechert has advised NWR on that have closed this week, the other being NWR's Euro300m high yield bond. Both deals are part of an ongoing relationship that stretches back to 2004 when I advised leading regional investment company RPG Industries (NWR's parent) on its acquisition of OKD (NWR's subsidiary).

The Kyoto Protocol has created a rapidly expanding new industry to manage climate change, and by combining NWR's coal-bed methane management business with Green Gas International's expertise, we are delighted to have assisted in the creation of a leader in coal mine and landfill gas mitigation."

Maitland Advisory LLP advised Green Gas International Ltd and Citigroup acted as financial advisors.

05-30-2007

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Dechert LLP

Dechert Advises on New World Resources Notes Offering
International law firm Dechert LLP announced today that it advised New World Resources B.V. (the "Company") in connection with the issuance of Euro300 million of its 7.375% senior notes due 2015. The offering involved a European offering and an US offering in reliance upon Rule 144A. Morgan Stanley, Barclays Capital and Citi acted as joint book-running managers of the offering. The notes are listed on the unregulated market of the Irish Stock Exchange.

New World Resources is a wholly-owned subsidiary of RPG Industries SE, a private investment company which focuses on acquisitions and investments in Central and Eastern Europe. Each of First Reserve Corporation and American Metals and Coal International Inc indirectly owns14.3% and 4.7% of the Company, respectively. First Reserve Corporation is a US private equity firm specializing in the energy industry with US$12.5 billion under management. American Metals and Coal International Inc is a privately owned mining and marketing company with interests in coal operations in the United States, Australia, South Africa, Venezuela and China.

The Company is a coal, logistics and energy holding company organized under Dutch laws. It is the sole shareholder of OKD, a.s., the Czech Republic's largest hard coal mining company. Through OKD, the Company is a leading producer of hard coal in Central Europe, serving customers in the Czech Republic, Slovakia, Austria, Hungary and Germany. It is one of the largest industrial groups in the Czech Republic in terms of assets, revenues and employees. Proceeds from the transaction will be used to partially repay the Company's outstanding senior secured credit facilities, for general corporate purposes and for the Company's ongoing business activities and future expansion.

Marek Jelinek, the Company's Chief Financial Officer said: "This has been a significant milestone, one that essentially transforms New World Resources from a private to a public company in Europe. We are very pleased with the tremendous success of the offering, which validates our strategy."

The Dechert team was led by London partners Adam Levin (UK) and Wayne Rapozo (US) and assisted by associates Lauren Aste, Vicky Ko, Linda Lee and Alex de Miranda. Dechert was assisted by Prochazka Randl Kubr on Czech law matters, with a team lead by Martin Aschenbrenner and David Bregar, and was assisted by De Brauw Blackstone Westbroek, with a team lead by Karin Schadee, Arnold Jan Stuart and Martijn Rouwenhorst. The joint book-running lead managers were advised by Skadden, Arps, Slate, Meagher & Flom LLP, with a team lead by Richard Ely, James McDonald, Calvin Christopher and Shoshanna Lewis.

05-30-2007

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Dechert LLP

Dechert LLP Advises 3i on Euro89m Frankfurt Prime Standard Listing of Cleantech Portfolio Company SFC Smart Fuel Cell
International law firm Dechert's Munich office advised leading private equity and venture capital house 3i on the successful listing of its cleantech portfolio company SFC Smart Fuel Cell in the Prime Standard of the Frankfurt Stock Exchange. With the shift of the listing segment, SFC raised Euro89m by selling additional shares to support its next stage of global growth and expansion.

SFC, a world leading supplier of methanol based fuel cell systems for mobile power supply systems for leisure, industrial and defense applications, moved from Deutsche Boerse's Open Market segment to the Prime Standard on 25th May 2007. A listing on the Prime Standard is a prerequisite for inclusion in sector indexes such as the mid-cap, technology or blue-chip indexes.

A total of 2.395.275 shares were placed. Of these, 1.317.990 shares derived from a capital increase and the rest from the existing shareholders. The stock started trading in the new segment on the 25th of May.

The Dechert team advising 3i was led by Munich corporate partner Berthold Hummel, assisted by associate Tobias Rodehau.

Said Berthold Hummel: "We're delighted to have assisted 3i on this transaction. Dechert LLP has advised SFC Smart Fuel Cell as an established cleantech company with a high growth potential in the past and we are excited to having been involved by 3i in this transaction which represents an important stage of evolvement for SFC."

05-30-2007

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Cravath, Swaine & Moore, LLP

CRAVATH REPRESENTS IBM IN $12.5 BILLION ACCELERATED SHARE REPURCHASES
Cravath represented IBM International Group B.V. in its purchase of $12.5 billion of outstanding common stock of IBM through accelerated share repurchase agreements. This purchase was principally financed through a new $11.5 billion credit facility guaranteed by IBM. Under the agreements, IBM International Group B.V. purchased 118.8 million shares for an initial price of $105.18 per share. The lawyers involved in this matter are partner Marc S. Rosenberg, Senior Attorney Arthur F. McMahon, III and associates Zachary J. Gubler and Lara M. Rios on corporate matters, and partner Paul Michalski and Summer Associate Luis A. Barrera on financing matters.

05-30-2007

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Collier, Shannon & Scott, P.L.L.C.

David Frulla and Corey Rubin Present at the National Association of Manufacturers
Partner David Frulla and Special Counsel Corey Rubin presented at the offices of the National Association of Manufacturers in May. Their presentation, titled, “Playing by the Rules: Understanding the New Ethics and Lobbying Reforms,” covered government ethics.

05-30-2007

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