Going nuclear: Magic circle firm Freshfields advised energy company E.ON on its successful bid for nuclear development sites in Oldbury and Wylfa. E.ON, alongside joint venture partner RWE, acquired the land at a Nuclear Decommissioning Authority auction, where three sites were sold for a total of £387m. City firm CMS Cameron McKenna advised RWE and south-west firm Burges Salmon advised the authority.
Subsidiary sale: The London office of US firm Orrick, Herrington & Sutcliffe advised US conglomerate Textron on the $265m (£176m) sale of its Portsmouth-based subsidiary, HR Textron, to Woodward Governor, an energy component manufacturer. Orrick advised on UK law while US firm Nixon Peabody advised on US law. US firm Jones Day advised Woodward Governor.
Mining rights: Magic circle firm Clifford Chance, alongside Canadian firm Davies Ward Phillips & Vineberg, advised Glencore Finance Bermuda, a subsidiary of Glencore, on its participation in a $250m (£166m) rights offering by Katanga Mining. The firm also advised Glencore on converting its existing $265m (£176m) loan facility with Katanga subsidiary Kamoto Copper into Katanga shares, and on providing a $50m (£33m) loan to Katanga. City firm Norton Rose and Canadian firm Cassels Brock & Blackwell advised Katanga.
Fundraising five: City firm LG advised on London Stock Exchange fundraisings for five companies worth a total of £78m. LG advised Indian power project development company KSK Power Ventur on raising £32.5m; energy technology company Zenergy Power on raising £9.5m; Golden Prospect Precious Metals on raising £7.6m; Kalahari Minerals on raising £17.9m; and Indian oil and gas company Hardy Oil and Gas on raising £10.8m.
Abbey HQ: City firm SJ Berwin advised property investor British Land on the £115m sale of banking group Abbey’s London headquarters to Spanish banking group Santander, following Abbey’s takeover by Santander in 2004. London firm EMW Picton Howell advised Santander.
No comments yet