Corporate deals round-up

Paul Weiss Rifkin Wharton & Garrison (John Lange) advised TCL Communications Technology Holdings on its acquisition of Alcatel’s mobile handset R&D, manufacture and distribution business. The joint venture established to carry out the acquisition is owned 55 per cent by TCL and 45 per cent by Alcatel.

Macfarlanes (John Dodsworth) advised Air-Sea Survival Equipment on its disposal of the share capital of Survitec Group to SGL Holdings, advised by Hammonds.

Eversheds (Robin Johnson) acted for private equity partnership Rutland on the £49m acquisition from Cash America International (CAI) of pawnbroker Harvey & Thompson and a majority SKr40m (£3m) equity stake in Swedish pawnbroker Svensk Pantbelaning. Baker & McKenzie (Peter Strivens) acted for CAI on the deal.

Pinsents (Joanne Ellis) represented the management of home entertainment support systems company AVF on the £13m buyout of the company. Lloyds TSB Corporate Acquisition Finance, represented by Eversheds, backed the management buyout. Wragge & Co acted for the individual shareholder vendors.

Latham & Watkins (Charles Fuller, Michael Immordino) advised Video Island on its purchase of Screen-Select. The purchase was paid for by the issue of new Video Island shares to ScreenSelect shareholders by way of private placement of US shares into the UK.

Dundas & Wilson (Ewan Robertson) advised a consortium comprising Scottish and Southern Energy, Borealis Infrastructure and Ontario Teachers’ Pension Plan on its £3.16bn purchase of the Scotland and South of England Gas Distribution Networks from National Grid Transco.

Slaughter and May (Peter Brien) acted for technology components manufacturer Senior on its disposal of five industrial hose operations. The £8.3m cash, convertible loan note and preference shares disposal was made to Hose Acquisition Company and US Hose Corp, advised by Bishop + Sewell (Dan Johnson).