Latest transactions
Danske Markets, Jeudan A/S
Kromann Reumert advised Danske Markets, a leading full-scale investment banking branch of the Danske Bank Group, in connection with a rights issue by the Danish property company Jeudan A/S announced in a prospectus of 8 March 2010. Implemented on 30 March 2010, the rights issue generated gross proceeds of approximately EUR 132 million.
Date: 02-04-2010
Tower Group A/S
Kromann Reumert advised a number of junior banks of Tower Group A/S, a Danish listed property company with a balance sheet total of approximately EUR 672 million consisting of German properties, in connection with a reorganisation of the company after it had faced liquidity problems in January 2009.
Date: 03-02-2010
Bavarian Nordic A/S
Kromann Reumert advised the Danish biopharmaceutical company Bavarian Nordic A/S in connection with a rights issue announced by the company on Friday 8 January 2010. In the offering 99.6% of the new shares were subscribed resulting in gross proceeds to Bavarian Nordic A/S of approximately EUR 42.26 million.
Date: 08-01-2010
H+H International A/S
Kromann Reumert advised Europe's second-largest aircrete manufacturer H+H International A/S in connection with a rights issue underwritten by shareholders and new investors, generating net proceeds to the company of approximately EUR 58 million.
Date: 01-01-2010
NeuroSearch, Danish biopharmaceutical
Kromann Reumert advised Danish biopharmaceutical company NeuroSearch in connection with a rights issue announced by the company on Monday 19 October 2009. The net proceeds from the offering amounted to EUR 55.9 million. The offering was fully subscribed.
Date: 19-10-2009
TDC, Invitel Holdings A/S
Kromann Reumert advised TDC A/S, the leading Danish telecom provider, in connection with a sale of its 64% shareholding in Hungarian and Eastern European telecommunications group Invitel Holdings A/S, including TDC's subordinated loan of approximately EUR 34 million to the Invitel group. The transaction involved a tender offer for PIK notes issued by a company in the Invitel group as well as two senior senior notes.
Date: 30-09-2009
Sjælsø, a Danish Property developer
Kromann Reumert acted on behalf of the principal banks of Sjælsø, a Danish property developer, in connection with the conclusion of a conditional banking agreement, which was announced on 27 August 2009. The agreement involved a conditional underwriting commitment to subscribe for new shares of EUR 67 million in Sjælsø and an intercreditor agreement between Sjælsø's banks.
Date: 27-08-2009
Nordea Markets And Danske Markets
Kromann Reumert advised Nordea Markets and Danske Markets in connection with a share offering by trucking and logistics company DSV. Nordea Markets and Danske Markets are respectively the financial market arms of Nordea Bank (the leading financial services group in the Nordic and Baltic Sea regions), and the Danske Bank Group (the largest financial enterprise in Denmark). The offering was conducted through an accelerated book-building process on 29 April 2009, and all new shares were fully subscribed for at a final price of 57, earning the company gross proceeds in the order of DKK 1.4 billion. The closing price on 29 April 2009 was 58.5, and therefore the final price represented a discount of approximately 2.6%.
Date: 29-04-2009
Transaction value: EUR 188 million.
Nordea, Dresdner Bank
Kromann Reumert assisted Nordea, RBS/ABN AMRO and Dresdner Bank in connection with a public offering by Vestas, the world's largest manufacturer of wind turbines. Conducted via a global accelerated book-building process, the offering took place on 28 April 2009. All new shares were fully subscribed for at a final price of 323, representing a 5% discount from the 339 closing price quoted on the stock exchange. The issue earned the company gross proceeds in the order of DKK 6 billion.
Date: 28-04-2009
Transaction value: EUR 800 million.
Bang & Olufsen, Danske Markets
Kromann Reumert assisted Danske Markets - the entity responsible for the financial market activities of the largest financial enterprise in Denmark, Danske Bank Group. Advice was provided in connection with a share issue with pre-emption rights to existing shareholders that was carried out by Bang & Olufsen A/S, one of the world's best-known manufacturers of high-end audio/video equipment. The issue was announced in a prospectus dated 16 April 2009. If all new shares are fully subscribed for, the issue will generate gross proceeds of approximately DKK 459 million.
Date: 16-04-2009
Transaction value: EUR 62 million.
Sas
Kromann Reumet has assisted SAS with a prospectus prepared in connection with a capital increase of SEK 6 billion.
Date: 24-03-2009
Hungarian Telephone and Cable Corp.
Kromann Reumert has assisted Hungarian Telephone and Cable Corp. with a relocation of its domicile from Delaware in the US to Denmark. The project involved a Danish company as the ultimate holding company (Invitel Holdings A/S), and Kromann Reumert also assisted in relation to a listing of that company on NYSE Alternext, New York.
Date: 13-03-2009
Transaction value: EUR 100 million.
Victoria Properties
Kromann Reumert acted as legal counsel to the Danish real estate investment company Victoria Properties in connection with its placement of approx. 202,000 new shares to the company's core shareholders at a price of EUR 24 per share. The gross proceeds from the directed offering amounted to approx. EUR 4,88 million, which the company will us to finance investments in accordance with its strategy.
Date: 19-12-2008
Forstædernes Bank
Kromann Reumert acted as external legal counsel to the board of directors of Forstædernes Bank in connection with Nykredit's recommended public offer to acquire Forstædernes Bank. The offer price represented a premium of approx. 80% of the trading price immediately prior to the presentation of the offer on 15 September 2008. The offer was successfully completed later in 2008.
Date: 15-09-2008
Transaction value: EUR 238 million.
TDC
Kromann Reumert represented Danish telecom giant TDC in its appeal to the Commercial Tribunal of a decision by OMX Nordic Stock Exchange and the Danish Financial Supervisory Authority for violation of TDC’s disclosure obligations pursuant to the Danish Securities Trading Act. In a landmark decision, the Commercial Tribunal ruled in favour of TDC, thereby amending the basic rules of disclosure in Denmark.
Date: 15-09-2008
Roskilde Bank
Kromann Reumert advised Roskilde Bank on the securing of funding through an emergency facility issued by the Danish Central Bank, maintaining funding in place during an attempted sales process and finally assisting the new bank in discussions with lenders after its creation and acquisition by the Danish Central Bank in July-September 2008.
Handelsbanken Capital Markets, NunaMinerals A/S
Kromann Reumert acted as legal counsel to Handelsbanken Capital Markets (Global Coordinator & Bookrunner) in connection with the admission and listing of the shares of Greenland's leading minerals exploration company NunaMinerals A/S on OMX Nordic Exchange Copenhagen and the simultaneous public offering in Denmark and Greenland of new shares in the company, generating gross proceeds of DKK 112 million. Prior to listing on OMX, the shares in NunaMinerals A/S were admitted for trading on Dansk Autoriseret Markedsplads A/S.
Date: 23-07-2008
Transaction value: EUR 15 million.
Carlsberg A/S' rights issue
Kromann Reumert was acted as lead counsel to Carlsberg A/S in connection with Carlsberg's offering of new B shares. The transaction was the largest Danish rights issue to date, launched in connection with Heineken and Carlsberg's acquisition of Scottish & Newcastle. The rights issue was completed in June 2008.
Date: 30-06-2008
Transaction value: EUR 4.088 million.
Vagner Holding ApS, Nordicom A/S
Kromann Reumert represented Danish property development company Vagner Holding ApS in its acquisition of 33% of the share capital in Nordicom A/S - a Danish property company listed on the OMX Nordic Exchange Copenhagen.
Date: 11-06-2008
Transaction value: EUR + 5 million.
Danske Markets, Nordea, Brødrene Hartmann
Kromann Reumert represented Danske Markets (division of Danske Bank A/S) and Nordea Corporate Finance (division of Nordea Bank Danmark A/S) as Joint-Lead Managers and underwriters in connection with Brødrene Hartmann A/S’ rights issue on OMX Nordic Stock Exchange Copenhagen.
Date: 31-05-2008
Transaction value: EUR 36.5 million.
NeuroSearch
Kromann Reumert acted as external legal counsel to Danish biotech company NeuroSearch in connection with its placement of 300,000 new shares to institutional investors in Denmark and abroad at a price of DKK 280 per share. The net proceeds was used to finance a milestone payment to the sellers of Carlsson Research AB relating to the initiation of a pivotal clinical phase III study with ACR16 for the treatment of Huntington's disease.
Date: 01-05-2008
Transaction value: EUR 11 million.
Hedegaard
Kromann Reumert advised the board of directors of Hedegaard A/S in connection with the bidding contest between Dan Agro Holding A/S and Lantmännen, Sweden to acquire control of the company. The transaction included an unprecedented direct issuance of shares to Dan Agro Holding in response to Lantmännen’s original bid which eventually lead to a significantly improved offer to the existing shareholders of the target company.
Date: 30-04-2008
Transaction value: EUR 90 million.
Trigon Agri A/S
Kromann Reumert acted as legal counsel to Trigon Agri A/S in connection with a share issue on First North in Stockholm.
Date: 30-04-2008
Transaction value: EUR 105 million.
LifeCycle Pharma A/S, Danske Markets, UBS
Kromann Reumert advised global coordinators Danske Markets (division of Danske Bank A/S) and UBS in connection with LifeCycle Pharma A/S’ rights issue. 99.62% of the shares offered were subscribed.
Date: 02-04-2008
Transaction value: EUR 54 million.
NeuroSearch A/S
In October 2007, leading Danish biotech company, NeuroSearch A/S, raised DKK 774 million (EUR 104 million) in the third largest European biotech offering of 2007. Kromann Reumert acted as legal counsel to NeuroSearch A/S. The transaction included the handling of complex US securities law matters.
Date: 31-10-2007
Transaction value: EUR 104 million.
Fasteignafélagið Stoðir hf / Keops A/S
Kromann Reumert represented Icelandic real estate company Fasteignafélagið Stoðir hf., in the submission of a voluntary tender offer for all the shares in Keops A/S, a Danish listed real estate company, at the price of DKK 24 per share.
Date: 29-06-2007
Transaction value: EUR 584 million.
Curalogic A/S
Kromann Reumert acted as external legal counsel to Danske Markets (Division of Danske Bank A/S) acting as Global Coordinator and Bookrunner and Piper Jaffray Ltd. as Co-Lead Manager in connection with the offering of new shares in Danish biotech company Curalogic A/S on the OMX Nordic Stock Exchange Copenhagen. The of-fering included a basic offering of 18,000,000 new shares and an overallotment option of up to 2,000,000 new shares.
Dato: 26-06-2007
Transaction value: EUR 44.9 million.
Genmab A/S
Kromann Reumert represented Danish biotech company Genmab A/S in connection with the direct placement of new shares to Glaxo Group Limited.
Date: 21-06-2007
Transaction value: EUR 250 million.
Bavarian Nordic A/S
Kromann Reumert acted as external legal counsel to Danish pharmaceutical company Bavarian Nordic A/S in connection with its rights issue. Joint lead managers of the transaction were FIH Partners A/S and Nordea Bank.
Date: 20-02-2007
Transaction value: EUR 62.5 million.
FIH Erhvervsbank, ITH Industri Invest
Kromann Reumert acted as external legal counsel to FIH ERHVERVSBANK A/S in connection with a combined share buy back and dividend distribution programme for ITH Industri Invest A/S, a company listed on OMX Nordic Stock Exchange Copenhagen.
Date: 19-02-2007
Transaction value: EUR 37 million.
Handelsbanken Capital Markets, Faroese Bank
Kromann Reumert acted for Handelsbanken Capital Markets and the Faroese national financing fund in connection with the privatisation and IPO of leading Faroese bank Føroya Banki and a simultaneous dual listing on the OMX Nordic Exchanges in Iceland and Copenhagen.
Date: 01-01-2007
Transaction value: EUR 254 million.