Dealmakers

Romania: park life

Chinese solar power group Hareon Solarhas instructed central European powerhouse Schoenherr on its investment into photovoltaic parks in Romania. The project – which is the culmination of a joint venture between Hareon Solar and ESPE Srl, a leading Italian developer of green energy systems – includes an initial pipeline of up to seven ground-mounted photovoltaic parks in Romania with a total capacity of 20 MWp. The parks are expected to be sold to institutional investors when they become operational next year. Lawyers on the deal for Schoenherr were led by partner Alexander Popp. ESPE instructed the Milan office of Anglo-US global law firm DLA Piper.

US: apartment building

New York-headquartered law firm Weil Gotshal & Manges advised Lehman Brothers Holdings in the sale of apartment-building owner Archstone Enterprise to Equity Residential (EQR) and AvalonBay Communities (AVB) in a $6.5 billion cash and stocks deal.
The sale of Lehman’s largest asset will provide business with nearly $2.7bn in cash to assist in servicing creditors, while also acquiring 34,468,085 shares of EQR common stock and 14,889,706 shares of AVB common stock which, on a combined basis and using last Friday’s closing prices, have a value of approximately $3.8 billion. Lehman and its affiliates will own 9.8 per cent of EQR and 13.2 per cent of AVB based on the shares.
Leading the Weil team was New York real estate partner David Herman and also included partners Michael Bond, Raymond Gietz, Scott Sontag and Michael Kam.

France: pylon plans

New York law firm Kramer Levin has advised Bouygues Telecom in connection with the sale of 2,166 pylons in France to Antin Infrastructure Partners for €205 million.
The pylons will be held and managed by France Pylônes Services (FPS), a company created specifically to operate the pylons, which also has a long-term hosting and service agreement with Bouygues Telecom.
Some 1873 pylons were sold this week and the remaining pylons will be sold during the second quarter of next year.
Christophe Gaschin led the Kramer Levin team, while lawyers at the Paris office of Anglo-Australian global firm Herbert Smith Freehills – led by partner Christophe Lefort -- advised Antin.

Japan: bubble wrapped

London-headquartered law firm Simmons & Simmons – in association with Japanese legal practice TMI Associates – has advised New Jersey bubble wrap manufacturers Sealed Air Corporation on its sale of Diversey GK to funds advised by the Carlyle Group, in a deal worth £238 million. Sealed Air is a global leader in food safety and security, while Diversey GK is the Japanese market-leading provider of cleaning, sanitation and hygiene products and solutions.
Japan country head Jason Daniel led the Simmons & Simmons and TMI Associates team, assisted by fellow partner, corporate specialist Nobuyuki Watanabe. Carlyle instructed New York-based global firm Skadden and local Japanese firm Nishimura & Asahi.

Vietnam: banking on it

Paris-headquartered global law firm Gide Loyrette Nouel advised the Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) on a key technology agreement with Florida-based Fidelity Information Services (FIS), which will see the creation of a sophisticated banking platform.
In the agreement – known as the core banking solution implementation contract – FIS will deliver a banking platform to support VietinBank’s expanding consumer, corporate and international businesses, both in Vietnam and globally.  
Gide advised VietinBank -- one of Vietnam’s largest banks, with reported total assets of more than $22bn – on all legal aspects of the project with a team led by partner Thierry Dor.