Nabarro advises on five takeover offers in two weeks

Media > Nabarro news > Nabarro advises on five takeover offers in two weeks

13 May 2010

Nabarro LLP is currently acting on five separate takeovers across the real estate investment, commodities, gaming and telecoms sectors:

Rugby Estates Investment Trust plc on its £40m recommended takeover by ING UK Real Estate Income Trust
Atlas Estates on a £43m offer by Fragiolig Holding
Coal producer Caledon Resources plc on a potential merger with fellow resources company, Polo Resources
Inspired Gaming on its £75m public-to-private transaction by funds advised by private-equity firm Vitruvian Partners
IMImobile Limited, an Indian mobile content provider on a potential offer for WIN.

Rugby Estates Investment Trust plc
Nabarro partner Warren Taylor and senior associate James Archibald advised the UK REIT, Rugby Estates Investment Trust, on a bid valued at up to £40.1m from ING UK Real Estate Income Trust, which was advised by Norton Rose. This followed the successful defence of a hostile offer for Rugby by Laxey Partners in October 2009.

Atlas Estates Limited
Corporate partner Ian Binnie and associate Leon Miller are advising AIM and Warsaw listed client Atlas Estates, the Central and Eastern European real estate investment company, on the £42m offer from Fragiolig Holding, a company controlled by Israeli entrepreneur Roni Izaki who with RP Capital, provide the external management to Atlas. Simmons & Simmons act for Fragiolig.

Caledon Resources
A Nabarro team led by partners Warren Taylor and Ian Binnie and associates Alexandra Marsh and Jack Shepherd is advising Australia focused coking coal producer Caledon Resources on a potential merger with fellow resources company, Polo Resources. Caledon Resources and Polo Resources have agreed, in principle, to merge the two companies to form a coal-focused natural resources company. Charles Russell are acting for Polo Resources.

Inspired Gaming
Nabarro is also advising existing client, AIM-listed Inspired Gaming Group plc on its £74.4m recommended takeover by Gaming Acquisitions Limited, a company controlled by investment partnerships advised by private equity firm Vitruvian Partners LLP. Nabarro is also acting for the executive management team of Inspired Gaming on their arrangements with the parent company of Gaming Acquisitions. Nabarro corporate partner Alasdair Steele is leading the team advising Inspired Gaming with a separate team at Nabarro led by head of private equity Andrew Inkester advising Inspired Gaming's management team. Gaming Acquisitions is being advised by Dickson Minto W.S.

IMImobile
A team led by corporate partners Alasdair Steele and Iain Newman are advising Indian mobile content provider, IMImobile on its potential offer for WIN plc, a UK based mobile services company.

Iain Newman, the head of corporate at Nabarro LLP, commented: "These offers demonstrate our team's depth of knowledge and experience in the public M&A market. We pride ourselves on our ability to guide our clients smoothly through these processes and it is particularly pleasing that we have this capability across such a wide range of geographies and sectors."

If you would like any further information or have any queries please contact

John Thompson
johnt@lansons.com or
T +44 (0)20 7566 9719