JULY 2014

Transactions

Metrovacesa to Sell Gecina Stake to Norges Bank & others

Metrovacesa SA, once the biggest Spanish property developer by market value, agreed to sell its 27 percent stake in French developer Gecina SA (GFC) for 1.55 billion euros ($2.11 billion).

Institutional investors including Blackstone Group LP (BX) will buy 16.8 million Gecina shares for 92 euros each, a 10 percent discount to the Paris-based company’s net asset value, Metrovacesa said in a statement today. The transaction is likely to be completed between the end of July and the end of September, according to the Madrid-based company.

Norges Bank will acquire 9 percent of all Gecina shares, Credit Agricole Assurances will buy 4.7 percent, a jointly owned affiliate of Blackstone and Ivanhoe Cambridge Inc. will buy 6.9 percent and a Blackstone affiliate will purchase 1.5 percent, Metrovacesa said.

The jointly owned Blackstone-Ivanhoe affiliate already owns 23 percent of Gecina and will sell shares as needed to avoid holding 30 percent of the stock, New York-based Blackstone said in a separate statement. Reaching that ownership level forces an investor to bid for the remaining shares under French law.

Metrovacesa bought control of Gecina in 2005 for 5.18 billion euros. In February 2009, six Spanish banks took control of Metrovacesa in a debt- for-equity swap. In 2010, Metrovacesa offered its Gecina stake, which had dropped to 27 percent, as backing for a syndicated loan, on which it broke its covenants. LM

Legal advisor to Norges Bank:

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Metrovacesa to Sell Gecina Stake to Norges Bank & others

Legal advisor to Metrovacesa:

This announcement appears as a matter of record only

IK sells Minimax Viking to Kirkbi

Funds advised by IK Investment Partners (“IK”) are pleased to announce their agreement to sell Minimax Viking GmbH (“Minimax Viking” or the “Company”), a leading global player in the active fire protection market, to Kirkbi A/S (“Kirkbi”), a Danish investment company, and Intermediate Capital Group plc (“ICG”), a specialist asset manager. Financial details have not been disclosed.

Hamburg - IK acquired Minimax together with the company’s management in June 2006, at a time when the Company was a regional market leader in Europe and Germany and ranked third worldwide in its market. In the past eight years, Minimax has successfully transformed into a global market leader with a fully integrated offering covering fire suppression products & distribution, system integration and services, thereby more than doubling its revenues to approximately EUR 1.2 billion in 2013 and growing its number of employees from 3,200 to more than 7,000. This has been achieved through a combination of organic growth and significant acquisitions forming today’s Minimax Viking Group.

Bub Gauweiler & Partner represented the shareholder Mimatreu GmbH in this transaction. The responsible lawyers are: Franz Enderle (Partner) and Petra Dobner (Associate). Mimatreu GmbH is the trustee of the management of Minimax Viking GmbH. The escrow challenged us at different points of the transaction especially on the tax issues. Mimatreu GmbH was one of the sellers in the first step and entered into a new shareholder agreement with ICG, KIRKBI and Tom Groos. The management of Mimatreu GmbH considers transferring the trustors to shareholders of a new entity which will replace the “old” Mimatreu GmbH. LM

Kirkbi acquires Minimax Viking from IK Investment Legal advisor to Kirkbi:

Legal advisor to Intermediate Capital: Legal adviser to IK Investment:

Legal advisor to shareholder Mimatreu GmbH:

Legal adviser to the Groos Family:

This announcement appears as a matter of record only www.lawyer-monthly.com

Metrovacesa

Minimax Viking