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Deals
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DEALS - OPERACIONES
Kromann Reumert acted for a syndicate of Danish and international banks in connection with the financing of the 2009 and 2010 newbuilding programs of an international shipping company. The USD 500 million deal was closed in the first quarter of 2010. Kromann Reumert has assisted the Danish biopharmaceutical company Bavarian Nordic A/S in connection with a rights issue announced by the company on Friday 8 January 2010. In the offering 99.6% of the new shares were subscribed resulting in gross proceeds to Bavarian Nordic A/S of approximately EUR 42.26 million. Kromann Reumert's Procurement Law Group assisted LD, a major Danish asset management company, in a tender procedure for the appointment of search and selection advisers. PPCmetrics AG of Zürich, Switzerland, was awarded the contract and will be assisting LD in connection with a future tender for the purpose of selecting investment advisers for LD's DKK 60 billion portfolio. Kromann Reumert has advised the listed property company, Nordicom A/S, in connection with a consolidated stand still agreement with its financial creditors. Nordicom A/S holds assets worth approx. EUR 700m. Kromann Reumert advised Scandinavian Tobacco Group (STG) in connection with the agreement entered into with Swedish Match AB, combining STG's and SM's cigar and smoking tobacco activities into a group owned 51 per cent by STG and 49 per cent by SM. With annual revenue of approximately EUR 700 million, EBITDA of approximately EUR 140 million and around 10,000 employees, the new group will be a major global player in the cigar and smoking tobacco markets, its total sales running into 2.5 billion cigars and 1,650 tonnes smoking tobacco. The transaction is subject to competition authority approvals, which are expected to be in place in the 3rd quarter of 2010. Partner Erik Bertelsen and associate Thomas Klausen assist diary company Arla Foods in the investigation undertaking by the Swedish Competition Authority in respect of possible abuse of dominance We currently assist Danish Crown and its subsidiaries in a principle dispute regarding waste water discharge payments/charges. The specific issue involves substantial payments in the range of EURO 10 million but will have implications for all slaughterhouses in Denmark. The case is receiving extensive national media coverage. Erik Bertelsen and Tilde Jensen represented Dansk Energi (a trade organisation comprising Danish energy companies and utilities) in their complaint to the European Commission concerning makret foreclosure by Swedish incumbent Stattkraft, a case that was closed by the Commission following commitments by Stattkraft Morten Kofmann and associate Mette Diget assisted Post Danmark, the incumbent post operator, in a matter concerning abuse of dominance by way of retroactive loyalty rebates. Morten Kofmann, along with associates Bart Creve and Mandy Chilcott currently represent SAS Cargo in the European Commission’s ongoing investigation into a global airfreight cartel. Involving coordinated efforts by competition authorities from around the world (such as the U.S. Department of Justice), the case is one of the most extensive cartel investigations ever undertaken.
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