Lawyer Monthly Magazine - May 2019 Edition

91 Transactions www. lawyer-monthly .com MAY 2019 This announcement appears as a matter of record only Eaton Capital Unlimited Company Acquires a Majority Stake in Ulusoy Elektrik Has acted as legal adviser to: Eaton Capital Unlimited Company Acquires A Majority in Ulusoy Elektrik Power management company Eaton (NYSE:ETN) has acquired an 82.275 percent controlling interest in Ulusoy Elektrik Imalat Taahhut ve Ticaret A.S. (IST:ULUSE), a leading manufacturer of switchgear based in Ankara, Turkey, with a primary focus on medium voltage solutions for industrial and utility customers. The purchase price for the shares is approximately $214 million on a cash and debt free basis. This constitutes the entire shareholding of both privileged and ordinary shares of sellers Sait Ulusoy, Kubilay Hakki Ulusoy, Enis Ulusoy and Akgul Ulusoy, and accounts for 90.153 percent of the outstanding voting rights. The transaction also includes transfer of Ulusoy Elektrik’s two Indonesian subsidiaries and a medium voltage switchgear assembly and sale business as well as carve-out of certain assets and business from the Company. Share transfer was completed following clearance from the Turkish Competition Board. On a Turkish Financial Reporting Standards basis, Ulusoy Elektrik had sales for the trailing 12-month period ending September 30, 2018, of 555 million lira ($126 million based on the average exchange rate for the period) and EBIT of 158 million lira ($36 million converted on the same basis). Paksoy represented Ulusoy Family on this transaction by a team led by Elvan Aziz (partner) together with Nazlı Bezirci (counsel), and Miray Cura (associate). Ökkeş Şahan (counsel) supported the team on the capital markets aspects of the transaction. This announcement appears as a matter of record only Brothers Publicidad Sell 51% in Comunica + A To Dentsu Aegis Network Iberia Has acted as legal adviser to: Brothers Publicidad Brothers Publicidad sell 51% in Comunica + A to Dentsu Aegis Network Iberia Dentsu Aegis Network announced that Spain’s largest independent creative agency, Comunica+A, is joining the network. Headquartered in Madrid and with offices in Barcelona and Paris, Comunica+A, is one of Spain’s most renowned creative agencies. The agency, founded in 1998 and with 260+ employees, has an impressive client list with leading brands including Orange, Caixabank, NH Hotels, Michelin, Bosch Car Services and Real Madrid. Being part of Dentsu Aegis Network, will enable Comunica+A to expand the scope of services beyond advertising, marketing, retail and digital with access to world-class capabilities in consumer insight, data and analytics. The move will also create the opportunity to offer clients an integrated, full-service solution across all forms of media, digital and programmatic, to better reach consumers and help clients win, keep and grow their best customers. Operating across 145 countries and with 47,000 employees, Dentsu Aegis Network is one of the largest communication groups in the world and a leader in data and digital advertising services. The acquisition brings together the creative capabilities and expertise of one of Spain’s most reputed creative agencies with media and data strategy and planning and the media buying capabilities of a major advertising network.