Germany: first aid
German law firm Luther Rechtsanwaltsgesellschaft has advised the city of Offenbach on the sale of the city hospital to specialist private hospital group Sana Kliniken.
In a statement the firm said that the deal is one of the largest hospital privatisations in Germany of the last few years.
Earlier this month the City Council of the City of Offenbach approved Sana Kliniken's offer to buy 90 per cent of the shares in Klinikum Offenbach.
The Frankfurt-based Luther team included partners Thomas Köhler, Claudia Strohe and Nadine Sterley.
AG SynCap Management GmbH advised the City on financial issues with partner Darius Kianzad leading.
Rwanda: debut offering
New York-headquartered law firm White & Case advised the Republic of Rwanda in connection with its debut offering of a US$400 million 10 year bond.
The deal was heavily oversubscribed as investors continue to show interest in high quality sub-Saharan sovereign debt, the firm said in a statement.
BNP Paribas and Citibank acted as joint lead managers.
The White & Case team was led by London partners Stuart Matty and Melissa Butler.
Europe: paper trial
European tissue producer and supplier Wepa Hygieneprodukte has been advised by Chicago-based law firm Mayer Brown on the inaugural offering of €275 million of its 6.500 per cent Senior Secured Notes due 2020 and on a new €90 million Senior Revolving Credit Facility.
The notes were listed on the Luxembourg Stock Exchange. The proceeds of the offering will be used primarily to refinance existing indebtedness.
The Mayer Brown team from the Düsseldorf, Frankfurt, London, New York and Paris offices was led by corporate and securities partners Bernd Bohr (London) and Hendrik Otto (Düsseldorf) and banking and finance partner Dirk-Peter Flor (Frankfurt).
UK: card holder
Global legal practice Norton Rose has advised major banking group Santander on the disposal of its UK co-branded store card business to SAV Credit, an independent credit card provider owned by US hedge fund Varde Partners.
The Spanish bank’s UK store card business has approximately 3.5 million customer accounts and £1 billion in receivables and provides co-branded store cards for retailers such as Debenhams, House of Fraser, Arcadia (which includes Topman and Topshop) and Laura Ashley.
Norton Rose corporate partner Glenn Hall led on the transaction.
Offshore: silver service
Leading offshore law firm Carey Olsen has provided Channel Islands-specific corporate and regulatory advice to Silverfleet Capital in its £50 million buyout of leading fund administration and private equity specialists, Ipes, from RJD Partners.
The global private equity firm – which specialises in mid-market buyouts - has a reputation for ‘buy to build’ investments and plans to develop Ipes through organic growth and acquisition with an emphasis on international expansion. The acquisition is subject to regulatory clearance.
Carey Olsen’s team was led by partners Tom Carey in Guernsey and Guy Coltman in Jersey with support from associates John Scanlan and David Taylor.