Vinge advises Smart Eye in a directed new share issue of MSEK 200
The subscription price, i.e. SEK 101.50, has been determined by an accelerated book‑building procedure corresponding to a discount of 1.6 per cent compared to the closing price on Nasdaq First North on 21 May 2019. Första AP‑fonden becomes a new major shareholder in the company after having been allotted more than half of the shares in the new issue and thereby becomes the third largest owner with 6.6 per cent of the shares and votes. In total, five major Nordic institutions were allotted approximately 75 per cent of the shares in the new share issue. The purpose of the new share issue is to finance the continued development of the business and an expanded offer towards the Chinese market. Carnegie Investment Bank has acted as sole bookrunner.
Vinge’s team has primarily consisted of responsible partner Anders Strid together with Wibeke Sorling and Edin Agic (Capital Markets), Gu Qun (China Practice), Alexander Lindeberg (IP), Victor Ericsson (Tax) as well as company assistant Camilla Andersson.
Vinge advises STMicroelectronics on its acquisition of a majority stake in Norstel AB
Upon completion of the transaction (which is subject to conditions), STMicroelectronics will acquire 55% of Norstel AB, with an option to acquire the remaining 45% subject to certain conditions. If such option is exercised, it will result in a total consideration of USD 137,500,000 for 100% of Norstel AB.
Vinge’s team consisted of, among others, Christina Kokko, Ulrich Ziche, Linda Sengul and Desirée Sjöblom (Corporate and M&A), Gu Qun, Gabriella Fossum, Jasmin Draszka-Ali and Hayaat Ibrahim (Regulatory and Compliance), Klara Secher (IP), Sophia Holm and Lova Unge (Employment), Nicklas Thorgerzon (IT), Axel Jansson and Anna Åhlberg (Banking and Financing), Anne Wijkman (Real Estate/Lease Agreements), Trine Osen Bergkvist (Competition), Fredrika Hjelmberg (Commercial Agreements), Hampus Olsson (Environment) and Jessica Öijer (VDR assistant).
Anhui Shanying Paper acquires Nordic Paper
Anhui Shanying Paper, which is part of the Taison Group, is a China-based pulp and papermill company which has been listed on the Shanghai stock exchange since 2001. Nordic Paper is a leading supplier of paper within the kraft paper and the greaseproof paper segments. Nordic Paper currently has four paper facilities in Bäckhammar, Åmotfors, Säffle in Sweden as well as Greåker in Norway and delivers paper to customers in more than 80 countries. The acquisition is conditional upon customary conditions to closing.
Vinge’s team has consisted of, among others, partners Jonas Bergström, Johan Larsson, senior counsel Gu Qun, associate Samra Baytar, counsel Joacim Rydergård, associates Pål Walhammar och Lisa Sennerby (M&A), counsel Johan Cederblad (Environmental), associates Lova Unge (Employment), Frida Ställborn (Real Estate), Josefine Lanker (Financial Arrangements), Victor Wahlqvist and Victor Berg (Commercial Agreements) and Parul Sharma (CSR and Compliance) and partner Pär Remnelid and associate Nils Alvång (EU, Competition & Regulatory)
Vinge advised Nalka Strukturfond AB in connection with the acquisition of Cibes
Cibes is a leading manufacturer of platform lifts with its base in Gävle and with global operations. The transaction is conditional upon approval by the relevant competition authorities.
Vinge’s team consisted of responsible partner Jonas Johansson and partner Peter Sundgren together with, among others, associates Johan Mattsson, Peter Issa, Andrea Ahlgren, Lova Unge, Jasmin Draszka Ali, Frida Ställborn, Ilze Lukins, Lionardo Ojeda, Fredrika Hjelmberg, Martin Boström, Grant McKelvey and Xandra Ståhlberg as well as senior counsel Qun Gu and VDR specialist Anna Hellohf. Partner Louise Brorsson Salomon together with associate Helena Håkansson provided acquisition financing advice.
Vinge advises in conjunction with sale of shares in Oatly
Oatly was formed in the 1990s as a spin-off from a research facility at Lund University. Today, Oatly has established itself as one of the Nordic region’s leading trademarks within ethical and sustainable lifestyle. Oatly is currently active on 20 markets in Europe and Asia, and its turnover last year was approximately SEK 369 million.
Vinge’s team consisted of responsible partner Johan Larsson together with, among others, associates Joacim Rydergård and Johanna Wiberg (M&A), Malin Malm Waerme (intellectual property), senior counsel Qun Gu (China practice) and Pernilla Warg (project assistant).
Vinge has assisted Bimobject in connection with the set-up of a joint venture in China together with a subsidiary within the Jianyi Investment Development Group.
The joint venture will, in addition to its equity of 1 million USD of which Bimobject has contributed 400,000 USD, be funded over the coming two years with investments from Jianyi in the amount of 12,000,000 USD. Bimobject is at the same time intended to be the main supplier of technology, know-how and technical service to the joint venture.
Vinge’s team consisted of Henrik Ossborn, Fredrik Christiansson, Sebastian Frisk, Maria Zell and Qun Gu.
XingXueKang Investment Partnership has entered into a share purchase agreement with Opcon, the energy and environmental technology group a share purchase agreement concerning the sale of Opcon’s main part of the group’s operations within compressor technology and waste heat recovery. The transaction also includes the newly-formed company, Opcon Compressor Technology AB as well as the subsidiaries Svenska Rotor Maskiner AB, Opcon Energy System AB and 48.9796% of the shares in the jointly owned Chinese company Fuijan Opcon Energy Technology Co. Ltd. The transaction also includes all intellectual property rights related to compressor technology and Opcon Powerbox. The Opcon trademark will also be assigned although it will continue to be used by the Opcon group during a transitional period.
Following completion of the due diligence phase based on the accounts as per 31 March 2015, the purchase price amounts to SEK 400 million. Fifteen per cent of the purchase price will be paid in cash not later than 20 business days after the agreement enters into force following approval by the members at Opcon’s general meeting and approval by the investment committee which controls the purchaser. The remaining 85% of the purchase price shall be paid at closing of the transaction, which is anticipated to occur on 30 September 2015 when title to the shares passes to the purchaser.
Vinge’s team consisted of responsible counsel Qun Gu and Ulrich Ziche (project manager), and Andrea Jägerstedt (M&A), Johan Cederblad, Niclas Winnberg and Julia Nääs (real estate and environmental), Karin Grauers (commercial agreements, IP and IT), Maria Schultzberg (tax), Johan Wahlbom (competition) and project assistants Annika Johnson and Carline Skymberg.
For further information, please see Opcon’s press release: www.opcon.se
Vinge has advised Ovako Group in connection with the acquisition of the entire issued share capital in BE (Shanghai) Steel Trading Co., Ltd from BE Group AB (publ). The transaction is subject to approval by the relevant public authorities in China.
Ovako is a leading European producer of engineering steel for customers in the bearing, transport and manufacturing industries. The company has 11 production sites and a number of sales companies in Europe and the USA. Sales in 2012 amounted to EUR 937 million and the company had 3,040 employees. The total production capacity is 1.3 million tonnes of steel per year. The potential acquisition is intended to accelerate Ovako’s plans to establish a service centre in China in order to support Ovako’s customers in Asia by providing specific, niche products.
Vinge’s team advising Ovako Group consisted of partner Henrik Wenckert and associate Nina Farrahi. Partner Qun Gu advised on issues relating to China and Chinese law.