Dealmakers

UK: A bit of wind

The London office of global law firm Norton Rose advised a group of lenders on the financing of Dutch pension fund PGGM and Ampere Equity Fund’s interest in Walney offshore wind farms off the coast of Cumbria in England.
The financing will enable PGGM and Ampere -- acting jointly through their investment vehicle OPW -- to refinance their stake in the wind farm.
The lender group consists of UK Green Investment Bank, Lloyds Banking Group, Royal Bank of Scotland, Santander and Siemens Bank.
According to Norton Rose, the value of the term loan and working capital facility is approximately £225 million and represents the first time the UK Green Investment Bank has provided direct lending support to a project financing.
Energy partner Jon Ellis led the Norton Rose team advising the lenders. Partner Nick Pincott advised on due diligence, partner Matt Hodkin, on tax, and partner Dean Naumowicz on hedging.
London magic circle firm Clifford Chance advised OPW. DONG Energy, the developer, operator and majority owner of Walney offshore wind farm was advised by London firm Watson Farley Williams and minority owner Scottish and Southern Energy was advised by English international practice Eversheds.

Saudi Arabia: Snack time

Chicago-based snack food business Mondel?z International instructed London magic circle firm Clifford Chance and Saudi Arabian firm Al-Jadaan & Partners on a joint venture with Olayan Group and Khalifa Algosaibi Group to launch a distribution joint venture in the Persian Gulf state.
According to CC, Mondel?z is the largest snack company in the world and this joint venture marks their continued expansion into Saudi Arabia, where its products have been distributed for almost a century.
The Clifford Chance team was led by partner Mohammed Al-Shukairy and supported by senior associate Mohammad Al-Rasheed. The Al-Jadaan team was led by partner Khalid Al Abdulkareem with support from associate Majid Al-Sheikh.

UK: His master’s administration

Magic circle firm Linklaters is advising big four professional services firm Deloitte on its role as joint administrators for high street retailer HMV.
The London law firm has been advising the lenders to the HMV Group since early 2011, but a separate team, led by restructuring & insolvency partners Richard Hodgson and Richard Bussell, has been engaged to assist the joint administrators, while the original team, led by banking partner Chris Howard, continues to advise the lenders.
The HMV role is the latest in a slew of administrations that Linklaters has been involved with, after previously working with GAME Group, La Senza, Homeform Group, Habitat and Woolworths.
The Lawyer newspaper in London reports today that the local office of San Francisco-based law firm Morrison & Foerster is instructed to advise a group of the music store’s creditors.
Meanwhile, the newspaper also reports on the latest UK high street failure, the administration of video rental chain Blockbuster, in which Deloitte’s is again acting as administrators, instructing London-based global franchise law firm CMS Cameron McKenna.

Canada: Mining deep

Vancouver-based mining company First Quantum Minerals has instructed Canadian law firm Fasken Martineau on its offer to acquire all of the outstanding shares of Inmet Mining Corporation for a total of approximately Can$5.1 billion.
The Fasken Martineau team included partners John Turner, Daniel Batista and; Richard Steinberg.

Netherlands: Got a new motor

London-based CMS has also advised Dutch financial services company Kroymans on the disposal of all its shares in the capital of International Car Lease Holding and its subsidiaries J&T Autolease and DirectLease to the Mandemakers Group and Van Mossel.
Together, J&T Autolease and DirectLease manage 20,000 car lease contracts.
According to Eric Berkhof, director and major shareholder of Van Mossel Group, the new group will be the largest privately owned lease company in the Netherlands.
The CMS team was headed by partner Roman Tarlavski.