South Africa: energy flow

ADDAX & Oryx Group (AOG) subsidiary Oryx Energies has been advised by French law firm Gide Loyrette Nouel on the acquisition of the liquefied petroleum gas (LPG) distribution businesses of BP and Masana Petroleum (in which BP has a 45 per cent stake) in South Africa.
The acquisition by Oryx - one of Africa's largest independent providers of oil and gas products and services – follows BP’s global announcement last year of its intent to sell its LPG bottles and bulk business, as well as some of its wholesale LPG activities.
The deal is expected to be completed during the third quarter of 2013, subject to completion of all the required legal and regulatory approvals.
The Gide team was by partner Christophe Eck and Cécile Davanne-Mortreux, who were assisted by local firm Bowman Gilfillan.
Norton Rose provided legal counsel to BP.

]Italy: road trip

Global law firm Norton Rose has advised project company Società di Progetto Brebemi, concessionaire of the project for the construction and management of a new 62km toll motorway linking the Northern Italian cities of Brescia, Bergamo and Milan, on securing €1.818 billion limited recourse facilities for the project.
Construction on the motorway, which is currently 65 per cent complete, is expected to finish by the end of June 2014, in time for EXPO 2015, which will be hosted by Milan.  
The shareholders of Brebemi, with Autostrade Lombarde holding a majority stake of 78.9 per cent, contributed €520 million of equity to the project in order to meet the required €2.3 billion to construct and manage the new toll motorway.
The Norton Rose team was led by Milan-based partner and head of the Italian banking team, Arturo Sferruzza.

Global: processing power

The Frankfurt and Hong Kong offices of New York-headquartered law firm Debevoise & Plimpton have advised MAG Group on the sale of its subsidiary MAG Americas to Paris-based Fives Group.
The acquisition of MAG Americas - a global supplier of high-performance machining solutions and composite processing - includes a 38 per cent ownership stake in the French aerospace machine tool manufacturer Forest-Liné. In parallel, MAG Europe has entered into an agreement to sell its 62 per cent ownership stake in Forest-Liné to Fives.
In 2012, MAG Americas reported a turnover of approximately $500m, of which 67 per cent was generated in North America.
The Debevoise deal team was led by Frankfurt-based partner Friedrich Hey.

UAE: Turkish delight

Atlanta law firm King & Spalding has advised Turkish participation bank Asya Katilim Bankasi (Bank Asya) on the issuance of US$250 million resettable subordinated tier 2 certificates in a landmark Shari’ah-compliant capital markets transaction.
The certificates, listed on the Irish Stock Exchange and due in 2023, are the first subordinated tier 2 Shari’ah-compliant certificates to be issued from Europe, Turkey and the Middle East. The certificates are issued through Asya Sukuk Company Limited, a Cayman Island incorporated special purpose vehicle.  
The King & Spalding team was led by Dubai-based Middle East and Islamic finance partner Rizwan Kanji. The joint lead managers on the transaction were Bank of America Merrill Lynch, EmiratesNBD, HSBC and National Bank of Abu Dhabi PJSC, which were advised by magic circle firm Allen & Overy.

France: note taking

Rexel, a Paris-based distributor of sustainable and innovative products and services for automation, technical supply and energy management, has been advised by Debevoise & Plimpton on its placement of €650 million of 5.125 per cent senior notes due 2020, and US$500 million of 5.250 per cent senior notes, also due 2020.  
The notes will be listed on the Euro MTF market of the Luxembourg Stock Exchange.
Rexel will use a portion of the proceeds of the placement to redeem its 8.25 per cent senior notes due 2016, issued in the initial principal amount of €650 million.
The Debevoise team was led by partners Raman Bet-Mansour and Alan Davies and included partner Pierre Clermontel.