Matter 17 January 2022

De Brauw advises Nederlandse Loterij on its acquisition of majority stake in Lotify

https://nieuws.nederlandseloterij.nl/nederlandse-loterij-neemt-meerderheidsbelang-in-lotify/
Matter 12 January 2022

COFRA acquires Dalsem, a leading developer of high-tech greenhouses

De Brauw advised COFRA on the acquisition of Dalsem, a leading developer of high-tech greenhouses. This is COFRA's second investment in the sustainable food sector and the next step in COFRA's ongoing diversification strategy focused on tackling the biggest social and environmental challenges facing our world.
Matter 6 January 2022

De Brauw advises LeasePlan on its combination with ALD

De Brauw is advising LeasePlan on the acquisition by ALD S.A. of 100% of the shares in LeasePlan from a consortium led by TDR Capital for a cash and shares consideration of EUR 4.9 billion. After closing, which is expected by March 2023, the consortium will hold 30.75% of the ALD shares and Société Générale will hold 53% of the ALD shares. The contemplated combination of ALD and LeasePlan is expected to be highly synergetic and create an opportunity to cross-leverage the two companies’ complementary capabilities. As a leading global player in mobility worldwide, the combined business would be able to benefit from a fast-growing market driven by strong underlying megatrends, including the shift from ownership to usership, the data-driven digital transformation of the mobility industry, and the transition towards zero-emission and sustainable mobility. The De Brauw team is led by Corporate M&A partner Pete Lawley and Financial Markets Regulation partner Mariken van Loopik.
Matter 4 January 2022

Silverfleet sells CoreDux to Arcline

De Brauw advised Silverfleet Capital on the sale of the CoreDux Group, a manufacturer of flexible gas and fluid artery systems with group companies in the Netherlands, France, Germany and the United States, to Arcline Investment Management. The parties entered into a put option agreement on 24 December 2021. Signing and closing of the transaction are expected by Q1 or Q2 of 2022, subject to the consultation of employee representative bodies and regulatory clearances.
Matter 31 December 2021

De Brauw acts as lead counsel on sale of Hunter Douglas to 3G Capital

De Brauw acted as lead counsel to Ralph Sonnenberg, the controlling shareholder of Hunter Douglas, the global market leader in window coverings such as Luxaflex, and a major manufacturer of architectural products, in relation to the sale of a controlling interest in Hunter Douglas to 3G Capital, a global investment firm. The transaction is based on a value of €175 per ordinary share, implying an enterprise value of $7.1 billion. The Sonnenberg Family will continue to hold a 25% interest in Hunter Douglas, which is listed in Amsterdam and incorporated in Curacao. The independent directors of Hunter Douglas unanimously support the transaction, which includes amongst others a block trade, an asset sale, and statutory squeeze-out proceedings in order to allow minority shareholders to receive the same price as the controlling shareholder for their ordinary shares. The transaction is subject only to limited conditions not including any financing or material adverse change conditions.
Matter 30 December 2021

De Brauw advises Beter Bed on the transfer of the 7.9% interest held by Magical Honour to Navitas

De Brauw advised Beter Bed on the transfer of the 7.9% interest held by Magical Honour to Navitas Capital
Matter 27 December 2021

Prodrive Technologies announces minority investment by HAL

De Brauw has acted as lead counsel for Prodrive Technologies on reaching an agreement with HAL Investments regarding a minority investment in Prodrive Technologies. HAL will invest alongside Prodrive Technologies' two founders to support the company's ambitions. Prodrive Technologies is active in the research, development and manufacturing of high-tech electronics, software and mechatronic products and systems. The company provides solutions for, amongst others, the semiconductor, medical and electric mobility industries. Sales over the financial year 2020 amounted to € 279 million and the company employs approximately 2,075 FTE. The completion of the transaction is subject to conditions customary for transactions of this nature, including approval by the relevant competition authorities as well as finalization of the procedures under the Works Council Act.
Matter 23 December 2021

EssilorLuxottica, GrandVision and MPG enter into agreement for MPG to acquire 142 EyeWish stores in the Netherlands and 35 GrandOptical stores in Belgium

EssilorLuxottica, GrandVision and the Optic Retail International Group BENE, a member of MPG Austria ("ORIG/MPG”), announced today that they have entered into an agreement for ORIG/MPG to acquire 142 EyeWish stores in the Netherlands and 35 GrandOptical stores in Belgium. This follows the commitments agreed upon with the European Commission on 23 March 2021, as part of the acquisition of GrandVision by EssilorLuxottica. The agreement between EssilorLuxottica, GrandVision and ORIG/MPG also provides for transitional agreements to support the business continuity of the divested perimeters following the implementation of the transaction. Completion of the transaction among EssilorLuxottica, GrandVision and ORIG/MPG is subject to the approval of the European Commission, as part of the commitments’ procedure. The transaction is expected to close in the first quarter of 2022.
Matter 22 December 2021

Porthos CCS Project reaches key milestones

De Brauw's multi-disciplinary energy and infrastructure group acts as project counsel to Gasunie, EBN and Port of Rotterdam on the Porthos carbon capture and storage (CCS) project. Last week, these parties set up the various entities they will use to develop, own and operate the Porthos Project. They also entered into several cooperation agreements. In addition, Porthos and its launching customers Air Liquide, Air Products, ExxonMobil and Shell signed the final contracts for the transport and storage of CO2.
Matter 20 December 2021

KSL Capital Partners enters majority ownership of Eden Hotels

Eden Hotels (“Eden”), the Dutch hotel group owned by the Dijkstra family, announced on 17 December 2021 that an affiliate of KSL Capital Partners (“KSL”) made a majority investment into the group. The Dijkstra family will retain a significant minority stake in the group, and Eden CEO Leon Dijkstra will remain in his role in Eden Hotels. The combined ambition is to expand Eden Hotels into Europe.
Matter 6 December 2021

CSC and Intertrust agree on all-cash EUR 1.8 billion public offer for Intertrust

INTERTRUST AND CSC AGREE ON RECOMMENDED ALL-CASH OFFER OF EUR 20.00 PER SHARE
Matter 2 December 2021

EPIC Acquisition Corp, a special purpose acquisition company, launches bookbuilding for a €150 million offering and listing on Euronext Amsterdam

EPIC Acquisition Corp, a special purpose acquisition company, announced key terms of its proposed offering of up to 15,000,000 Units, each comprising one Class A Ordinary Share and one half of a Warrant, at a price of €10.00 per Unit for an aggregate of up to €150 million, and its expected admission to listing and trading of the Class A Ordinary Shares and Warrants on Euronext Amsterdam. The company is incorporated under the laws of the Cayman Islands and will seek to effect a business combination with a company operating in the consumer sector in Europe which has the potential for significant growth in Asian markets. The SPAC is sponsored by EPIC, a UK-headquartered investment, advisory and administration firm, and TTB, a Hong Kong-based investment and advisory business which has a track record of helping global brands access and develop in Asian markets. The leadership team of the SPAC will among others consist of Peter Norris, the chairman of the Virgin Group, Giles Brand, the founder and managing partner of EPIC and Teresa Teague, co-founder of TTB. The SPAC will have three independent non-executive directors, including Dutch non-executive directors Stephan Borchert (CEO GrandVision) and Jan Zijderveld (former President and CEO of Unilever Europe).De Brauw advised and assisted the SPAC and its sponsors as Dutch issuer counsel on all capital market aspects, including complex terms and structuring of the SPAC and the AFM prospectus approval process.