Updated, London, March 31, 2015 … The earlier statement that Salford, the general partner of Value Discovery Partners LP, is in administration was incorrect. Salford is not in administration and this statement has been deleted from the press release below.
Global law firm White & Case LLP has advised Mid Europa Partners on its acquisition of a controlling stake in Danube Foods Group B.V. and Clates Holding B.V.
The value of the transaction, which is subject to customary closing conditions and is expected to be completed during the second quarter of 2015, has not been disclosed. Mid Europa Partners (MEP) is a leading buyout investor focused on the growth markets of Central & Eastern Europe. Danube Foods Group, which achieved revenue of more than €400 million during 2014, is the leading branded fast moving consumer goods platform in the former Yugoslavia. It includes the region’s largest independent dairy business as well as the leading confectionery producer, and leading producer of mineral water and other non-alcoholic beverages, in Serbia.
"The complexity and scale of a transaction of this nature in Serbia presented many challenges," said London-based White & Case partner Ian Bagshaw, who led the team which advised on the acquisition. "We’re very pleased to have been mandated by MEP on the deal and to have helped our client and its co-investors successfully navigate its issues. In playing our part in making the announcement of this acquisition possible, we very clearly showcased the capabilities and regional market knowledge that the Firm’s London buyout team can harness to the benefit of clients."
"On a personal note, the deal represents a landmark for me as I originally worked on the sell side some five-plus years ago and it is a pleasure to execute a buy side mandate where I failed to do so on the sell side!"
London-based White & Case partner Ross Allardice said: "We’re very pleased to have supported MEP on this acquisition, and the deal is another example of the Firm’s market leading private equity credentials and ability to advise on complex cross-border transactions."
MEP senior partner Robert Knorr, who leads the firm’s consumer investments, said: "This has been one of our most exciting but also most complex transactions to date. White & Case was perfectly positioned to help us navigate the complexities given its focus on complex buyouts and its market leading practice in the region."
The Firm previously advised a consortium of investors, 75 percent controlled by funds managed or advised by MEP, on the €828 million sale of its entire stake in T-Mobile Czech Republic to Deutsche Telekom AG.
The White & Case team in London included partners Ian Bagshaw, Ross Allardice and Martin Forbes with support from associates Mark Evans, Tom Leslie, Will Summers and Amita Patel and trainee lawyers Oliver Arnott, Ali Auda, Gabe Tan and Charlie Mercer.
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