White & Case

Bregal Milestone Unveils Allshares, a Pan-European Powerhouse in Compensation and Benefits, and Announces Majority Growth Investment to Acquire Evli Alexander Incentives

Retrieved on: 
Wednesday, March 6, 2024

Bregal Milestone, a leading European software and technology growth private equity firm, today announced a majority growth investment in Evli Alexander Incentives (“EAI”), the former equity plan design and administration arm of Evli Group (“Evli”), a leading Nordic wealth manager.

Key Points: 
  • Bregal Milestone, a leading European software and technology growth private equity firm, today announced a majority growth investment in Evli Alexander Incentives (“EAI”), the former equity plan design and administration arm of Evli Group (“Evli”), a leading Nordic wealth manager.
  • "We are very excited to partner with Bregal Milestone, a team that shares our vision of becoming the leading provider of compensation and benefits and long-term incentives in Europe and beyond.
  • We believe that this partnership will create significant value for our clients, employees, and shareholders," said Maunu Lehtimäki, CEO of Evli Plc.
  • "We are honoured to partner with Evli Group and management,” added Cyrus Shey, Co-Founder and Managing Partner at Bregal Milestone.

IGT's Global Gaming and PlayDigital Businesses to Combine with Everi, Creating a Comprehensive Global Gaming and FinTech Enterprise

Retrieved on: 
Thursday, February 29, 2024

It also facilitates the separation of IGT's Global Gaming and PlayDigital businesses from our Global Lottery business, resulting in a pure play global lottery business.

Key Points: 
  • It also facilitates the separation of IGT's Global Gaming and PlayDigital businesses from our Global Lottery business, resulting in a pure play global lottery business.
  • "The combination results in a comprehensive and diverse product offering, addressing more aspects of the gaming ecosystem across land-based gaming, iGaming, sports betting, and fintech.
  • "We believe this merger combines two highly complementary businesses in a transformational manner, creating a global, land-based and digital gaming, fintech and systems business.
  • The transaction implies an enterprise value for IGT's Global Gaming and PlayDigital businesses of approximately $4.0 billion, and an enterprise value for Everi of approximately $2.2 billion.

Adagio Medical To List on Nasdaq Through Business Combination with ARYA Sciences Acquisition Corp IV, Enabling Further Commercial and Clinical Development of Innovative Cardiac Ablation Technologies

Retrieved on: 
Wednesday, February 14, 2024

LAGUNA HILLS, Calif., Feb. 14, 2024 /PRNewswire/ -- Adagio Medical, Inc. ("Adagio Medical"), a leading innovator in catheter ablation technologies for treatment of cardiac arrhythmias, and ARYA Sciences Acquisition Corp IV (Nasdaq: ARYD) ("ARYA"), a special purpose acquisition company that is sponsored by an affiliate of Perceptive Advisors, LLC ("Perceptive Advisors"), today announced they have entered a definitive agreement (the "business combination agreement") for a business combination (the "transaction"). Upon closing of the transaction, Adagio Medical will become a subsidiary of Aja Holdco, Inc. (the "Combined Company"), which will operate with the existing Adagio Medical management team under the name "Adagio Medical, Inc." The Combined Company's common stock is expected to be listed on the Nasdaq Capital Market under the ticker symbol "ADGM".

Key Points: 
  • Investors in the financing include affiliates of Perceptive Advisors, RA Capital Management ("RA Capital"), RTW Investments and ATW Partners.
  • "In Adagio Medical, we've come to believe that the company's innovative cardiac ablation technology, thoughtful commercialization strategy, and experienced leadership team make it an exceptional fit to meet our objectives."
  • The respective boards of directors of both ARYA and Adagio Medical have approved the proposed transaction.
  • Jefferies LLC ("Jefferies") is acting as financial and capital markets advisor to ARYA, as well as sole private placement agent.

Adagio Medical To List on Nasdaq Through Business Combination with ARYA Sciences Acquisition Corp IV, Enabling Further Commercial and Clinical Development of Innovative Cardiac Ablation Technologies

Retrieved on: 
Wednesday, February 14, 2024

LAGUNA HILLS, Calif., Feb. 14, 2024 /PRNewswire/ -- Adagio Medical, Inc. ("Adagio Medical"), a leading innovator in catheter ablation technologies for treatment of cardiac arrhythmias, and ARYA Sciences Acquisition Corp IV (Nasdaq: ARYD) ("ARYA"), a special purpose acquisition company that is sponsored by an affiliate of Perceptive Advisors, LLC ("Perceptive Advisors"), today announced they have entered a definitive agreement (the "business combination agreement") for a business combination (the "transaction"). Upon closing of the transaction, Adagio Medical will become a subsidiary of Aja Holdco, Inc. (the "Combined Company"), which will operate with the existing Adagio Medical management team under the name "Adagio Medical, Inc." The Combined Company's common stock is expected to be listed on the Nasdaq Capital Market under the ticker symbol "ADGM".

Key Points: 
  • Investors in the financing include affiliates of Perceptive Advisors, RA Capital Management ("RA Capital"), RTW Investments and ATW Partners.
  • "In Adagio Medical, we've come to believe that the company's innovative cardiac ablation technology, thoughtful commercialization strategy, and experienced leadership team make it an exceptional fit to meet our objectives."
  • The respective boards of directors of both ARYA and Adagio Medical have approved the proposed transaction.
  • Jefferies LLC ("Jefferies") is acting as financial and capital markets advisor to ARYA, as well as sole private placement agent.

Aareal Bank finances landmark hotel portfolio in London for Starwood Capital

Retrieved on: 
Thursday, February 8, 2024

Wiesbaden, 8 February 2024 – Aareal Bank announces its pivotal role in financing the majority of the Edwardian hotel portfolio in London acquired by a controlled affiliate of Starwood Capital Group (Starwood Capital).

Key Points: 
  • Wiesbaden, 8 February 2024 – Aareal Bank announces its pivotal role in financing the majority of the Edwardian hotel portfolio in London acquired by a controlled affiliate of Starwood Capital Group (Starwood Capital).
  • The acquisition adds to Starwood Capital's existing portfolio of European hotel investments, which following the transaction will comprise 47 hotels / approx.10,000 rooms across Europe.
  • Tim Abram, Managing Director at Starwood Capital said, "We are delighted to have Aareal Bank as our partner on the acquisition of this one-of-a-kind portfolio of London hotels.
  • Key players in this transaction include Pinsent Masons and White & Case, serving as legal advisors to Aareal Bank and Starwood Capital, respectively.

ARM Energy Holdings Announces Sale of Minority Interest in ARM Energy Services, ARM Energy Mexico to Tokyo Gas

Retrieved on: 
Monday, February 5, 2024

ARM Energy Holdings, LLC ("ARM" or “Company”), a leading infrastructure and energy marketing services firm committed to customer-centric solutions, today announced that Tokyo Gas America Ltd. (“Tokyo Gas America”), a wholly owned subsidiary of Tokyo Gas Co., Ltd. (“Tokyo Gas”) has acquired a minority equity interest in a newly-formed entity, ARM Energy Trading, LLC (“ARM Energy Trading”), which is comprised of ARM Energy Services and ARM Energy Mexico, one of the largest private North American physical natural gas marketers.

Key Points: 
  • ARM Energy Holdings, LLC ("ARM" or “Company”), a leading infrastructure and energy marketing services firm committed to customer-centric solutions, today announced that Tokyo Gas America Ltd. (“Tokyo Gas America”), a wholly owned subsidiary of Tokyo Gas Co., Ltd. (“Tokyo Gas”) has acquired a minority equity interest in a newly-formed entity, ARM Energy Trading, LLC (“ARM Energy Trading”), which is comprised of ARM Energy Services and ARM Energy Mexico, one of the largest private North American physical natural gas marketers.
  • “This transaction will enable ARM to continue to execute and grow our asset optimization and trading strategy while furthering our overall energy platform,” said Zach Lee, CEO of ARM Energy.
  • Intrepid Partners, LLC served as financial advisor, and Holland & Knight LLP acted as legal advisors to ARM Energy for this transaction.
  • Greenhill & Co. (Mizuho M&A) served as financial advisor, and White & Case LLP acted as legal advisors to Tokyo Gas America for this transaction.

Kazyon, the Leading Discount Grocery Retailer in the Arab World and Africa Acquires a 50% Equity Stake in Dukan, Expanding Its Footprint Into Saudi Arabia

Retrieved on: 
Tuesday, February 6, 2024

Founded in 2013 and operating over 100 stores, Dukan is the sole grocery discount retailer in Saudi Arabia.

Key Points: 
  • Founded in 2013 and operating over 100 stores, Dukan is the sole grocery discount retailer in Saudi Arabia.
  • With modern trade channel penetration of only c.50%, the Saudi Arabian market presents ample room for growth.
  • The company has experienced rapid growth and is now the leading discount grocery retailer across the Arab world and Africa with over 1,000 stores.
  • Kazyon aims to be a top three player in Saudi Arabia and Morocco after becoming the largest grocery retailer in Egypt.

Celsius Emerges from Chapter 11 and Commences Distributions of Over $3 Billion of Cryptocurrency to Creditors

Retrieved on: 
Wednesday, January 31, 2024

The Plan includes the distribution of over $3 billion of cryptocurrency and fiat to Celsius’ creditors, and the creation of a new Bitcoin mining company—Ionic Digital, Inc.—which will be owned by Celsius’ creditors and will have its mining operations managed by Hut 8 Corp. (Nasdaq | TSX: HUT) (“Hut 8”).

Key Points: 
  • The Plan includes the distribution of over $3 billion of cryptocurrency and fiat to Celsius’ creditors, and the creation of a new Bitcoin mining company—Ionic Digital, Inc.—which will be owned by Celsius’ creditors and will have its mining operations managed by Hut 8 Corp. (Nasdaq | TSX: HUT) (“Hut 8”).
  • Today, pursuant to the MiningCo Transaction, the Company has commenced distributions of over $3 billion of liquid cryptocurrency and fiat to creditors and Ionic Digital was created as a new Bitcoin mining company that will continue to deliver recoveries to creditors.
  • Ionic Digital will be owned by Celsius’ creditors, who will own equity in the form of common stock.
  • Celsius will now pursue an orderly wind down of its operations, including discontinuing the Celsius mobile and web applications.

Otterbourg Adds Ron Brody as Head of the Firm’s Leveraged Finance Practice

Retrieved on: 
Tuesday, January 30, 2024

is pleased to announce the arrival of Ron Brody as the head of the firm’s Leveraged Finance Practice Group.

Key Points: 
  • is pleased to announce the arrival of Ron Brody as the head of the firm’s Leveraged Finance Practice Group.
  • Mr. Brody is a nationally recognized high-yield securities lawyer with a broad range of corporate, transactional and finance experience.
  • Prior to joining Pillsbury, he was a partner at White & Case, where he co-headed the leveraged finance practice for over 13 years.
  • “We see a lot of opportunities for growth in leveraged finance, and I look forward to expanding Otterbourg’s leveraged finance presence and helping its clients address their most complex financing issues.”
    Mr. Brody earned his J.D.

Lucid Appoints Matt Everitt as General Counsel

Retrieved on: 
Tuesday, January 30, 2024

NEWARK, Calif., Jan. 30, 2024 /PRNewswire/ -- Lucid Group, Inc. (NASDAQ: LCID), setting new standards for luxury electric experience with the Lucid Air, selected to Car and Driver's 10Best list for 2024, is pleased to announce the appointment of Matt Everitt as General Counsel.

Key Points: 
  • Experienced international automotive leader to guide Company's overarching legal strategy, as Lucid enters its next phase of growth
    NEWARK, Calif., Jan. 30, 2024 /PRNewswire/ -- Lucid Group , Inc. (NASDAQ: LCID), setting new standards for luxury electric experience with the Lucid Air, selected to Car and Driver's 10Best list for 2024, is pleased to announce the appointment of Matt Everitt as General Counsel.
  • In this role, Mr. Everitt is responsible for overseeing Lucid Group's legal affairs globally and for providing strategic legal guidance to support the Company's ambitious growth plans.
  • "We are delighted to welcome Matt to Lucid and to California," said Peter Rawlinson, CEO and CTO, Lucid Group.
  • Mr. Everitt joins Lucid after 12 years at Mercedes-Benz, where he held several leadership roles in both the U.S. and Germany, most recently as General Counsel of Mercedes-Benz North America.