20 September 2005 – LAWFUEL – The Law News Network – European private equity firm Industri Kapital and co-owner Ensign-Bickford Industries yesterday announced they have signed an agreement to sell Dyno Nobel, a leading commercial explosives company, to a consortium of institutional investors led by Macquarie Bank for US$1,698m.
International law firm Freshfields Bruckhaus Deringer advised Industri Kapital on the auction sale. The transaction, which is subject to regulatory approval, is expected to be completed in late November 2005.
Corporate partner Patrick Gaynor, who led the Freshfields team, said, “The transaction was an important realisation of value for Industri Kapital. The Macquarie deal was the most attractive one for both sides, provided it could be achieved within some tricky constraints, including timing. Having the Aussies in town for eight days, particularly after the Ashes, made for an interesting week.”
The Freshfields team was led by corporate partner Patrick Gaynor and included finance partner Chris Howard, senior associate Simon Weller, associates Jennifer Bareham and Damien Moynagh. Antitrust, competition and trade partners David Aitman and MJ Moltenbray advised on the competition aspects.