US$240m acquisition, reverse takeover, and associated £33m equity fundraise
About the client:
Infrastructure India is an AIM listed, closed-end investment company focused on Indian infrastructure assets in the energy and transport sectors. Prior to the transaction, the company’s assets comprised a 6.84% interest in a run-of-the-river hydroelectric power project valued at £21.4m (as at 31 March 2011) and 26% interest in a toll road in central India valued at £29.4m (as at 31 March 2011). The company’s market capitalisation prior to the transaction was c.£26m, which rose to c.£167m immediately following the transaction.
About the transaction:
Infrastructure India entered into an agreement with Guggenheim Infrastructure Company Limited to acquire interests in a diversified range of income producing and in-development hydro-electric power assets and container infrastructure assets in India with a combined value of US$240m. The company undertook a £33m equity fundraise immediately prior to the acquisition. The acquisition comprised a reverse takeover under the AIM Rules and gave rise to certain considerations under the Takeover Code.
Akur, as Asset Adviser, led the negotiation of the acquisition and advised on the equity fundraising on behalf of Infrastructure India and members of the Akur team provided advice to the company in relation to its obligations under the AIM Rules and the Takeover Code. The members of the Akur team had acted for Infrastructure India since its inception in 2008.
$175m acquisition and associated $200m debt financing
About the client:
NBPOL is the world leader in the production of sustainable palm oil, from its extensive plantations in Asia. Akur (and the partners at Akur) advised NBPOL during its IPO in December 2007 on the Main List of the London Stock Exchange, when it was valued at c.£380m all the way through to its eventual takeover in 2014 by Sime Darby for £1.1bn – no further equity was issued during the period NBPOL was listed.
About the transaction:
This transaction represented a major development in the Company’s evolution, and increased the plantation area of the Company by 50%, through this acquisition of 25,000 hectares of existing operating palm oil plantations from a consortium of Cargill and Temasek. This acquisition was funded by a new debt facility delivered by Standard Chartered.
Akur led all negotiations, and structuring with Temasek and Cargill, and ran the debt sourcing, structuring, and funding
Hayward Tyler Group plc is a leader in the design, manufacture and servicing of performance-critical motors and pumps for the harshest of environments. Core markets for the group include: oil & gas exploration; power generation – both conventional and nuclear; and the chemical/industrials sector. With facilities in the UK, US, China and India, the Group has a proven reputation for providing innovative, reliable technological solutions built on a proud heritage stretching back over 200 years.
About the transaction:
Reverse takeover of Nviro Technologies Plc. Akur acted as financial adviser and Rule 3 adviser, The transaction brought in a supportive institutional shareholder base and established the company on AIM, where it continues to grow today
The largest chain of coffee stores in Central Europe (90 stores), with outlets in Poland, Czech Republic, Hungary, Romania and Latvia
About the transaction:
Akur originated and negotiated sale of coffeeheaven to Costa Limited (a subsidiary of Whitbread Plc). Akur’s team were able to drive a valuation of 15x EBITDA the business sold at an 81% premium to share price on Akur’s appointment (24p versus 13.25p)
+44 207 493 3631
