90

Transactions

JULY 2014

XENON acquires stake in SACOM

Legal advisor to Xenon: Financial advisor to Xenon:

XENON acquires stake in SACOM

Movent Capital Advisors, an independent financial advisor in Milano specialized in small-mid corporates, assisted Sacom Spa main shareholders in the deal.

Alberto Daina - Managing Partner of Movent Capital Advisors- led the transaction looking after the negotiation with the investor, the review of the Business Plan and coordinating the due diligence activity.

Sacom Spa produces and distributes “green biotech fertilizers” based on natural microorganism and is listed in the Milano Stock Exchange. The objective of the deal was to raise new capital to accelerate the company expansion on new markets outside Italy. LM

Legal advisor to Sacom:

Financial adviser to Sacom:

This announcement appears as a matter of record only

Michelin acquires Sascar from GP Investments

Legal advisor to purchaser: Michelin acquires Sascar

Michelin has announced that it intends to acquire all outstanding shares of Sascar, the leading Brazilian digital fleet management and freight security company.

The São Paulo-based company, which has 870 employees, generated revenue of BRL 280 million (around EUR 91 million) in 2013 and has enjoyed robust average growth of 16% over the past three years, with solid and consistent performances (EBITDA of 37% in 2013). The innovative and dynamic company has developed a strong presence in the independent trucker and small truck fleet segment in Brazil, which underpins the country’s land transportation market.

Legal advisor to sellers:

The Transaction was structured as a private bidding process and comprehended 3 different phases: (i) the first one, in which identified potential purchasers were invited to participate and to whom access to information on the target company was given, in order to present a non-binding offer; (ii) the second one was destined to carry out a due diligence process on information made available at a virtual data room, at a management presentation and at an on-site visit to the target company. In this phase, a proposed SPA and meeting with the in-house counsel and external counsel for the purposes of clarification were also made available to the potential purchasers. At the end of this phase, the potential purchasers presented a binding offer; and (iii) the third one, in which the proponent of the selected offer and its advisors were granted a time period to negotiate with the Sellers and their advisors the version of the SPA to prevail.

Michelin’s legal team and Motta Fernandes Rocha Advogados, as outside counsel, were involved all the phases, from the preparation of the non-binding offer and up to the execution of the SPA. LM

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

Sascar

SACOM