As Euro 2020 fever sets in, the London team of Skadden has scored four times in recent days, including advising Visa on its € 1.8 billion acquisition of the platform. European bank opened Tink facing an international team of White & Case.

Building on the current trend of transactions in the online payments industry, this high-profile deal sees US financial services giant acquiring Stockholm-headquartered Tink, a platform that enables banks, fintechs and start-ups to develop data-driven financial services.

Via an application programming interface (API), Tink enables customers to access aggregated financial data, initiate payments, and create tools for managing personal finances. It connects to over 3,400 banks that reach over 250 million customers across Europe and serves over 300 banks and fintechs in 18 European markets from offices in 13 countries.

Skadden’s M&A partner Simon Toms has been very busy lately advising Visa on this acquisition; Electronic Arts on its $ 1.4 billion acquisition of Playdemic from AT&T; Halewood International for its sale of the perry brand Lambrini to Australian wine giant Accolade Wines; and JP Morgan for its investment in the HQLAx blockchain platform.

Tom said Legal Affairs: “Tink is a fast growing company and has already started fundraising, but it’s in the payments area, which is hot right now. Open banking is interesting because it allows customers to grant access to their financial data to vendors through a website or app to deliver new or improved services. ‘

The Skadden team also included Brussels antitrust partner Ingrid Vendenborre and M&A partner of Palo Alto Kenton King, a longtime partner for Visa.

White & Case acted for Tink with a team led by partners Henrik Wireklint in Stockholm and Hyder Jumabhoy in London. Wireklint said: “We have advised Tink in its development and rapid growth into one of the largest open banking and fintech platforms in Europe. Our pan-European team successfully contributed to this strategically important transaction for Tink. ‘

Meanwhile, Electronic Arts’ acquisition of UK mobile game company and creator of AT & T’s Golf Clash Playdemic game also enlisted a Gibson Dunn team. Golf Clash is one of the leading mobile games in the US and UK with over 80 million downloads worldwide. The transaction provides for Electronic Arts’ continued acquisition of mobile game publisher Glu Mobile earlier this year as well as its $ 1.2 billion acquisition of UK video game developer and publisher Codemasters.

Toms said of the deal: “The games industry is very active in general due to the significant growth in the number of online games available for download.”

And in the market in general, he’s bullish: “Having joined Skadden two weeks after the lockdown, I didn’t expect to be this busy. The deal flow has exceeded my expectations and all signs point to this continuing in the months to come. ‘

Gibson Dunn acted for AT&T with a team led by his New York partner Eduardo Gallardo and his London partner Nicholas Tomlinson. London partner Benjamin Fryer advised on taxation and London partner James Cox advised on employment while New York partner Daniel Angel acted on intellectual property aspects.

Elsewhere, private equity store EQT has also become a gangbuster in recent times and has been particularly prolific in renewables, digital infrastructure and payments systems. Latham & Watkins won a mandate to advise EQT in a € 2.7 billion refinancing for its holding company GlobalConnect, a provider of data communications and fiber data center services to enterprises and consumers in Northern Europe. The refinancing raised funds for the expansion and was supported by a group of 14 Scandinavian and international lenders.

The new debt refinances loans previously held by GlobalConnect, which operates a 24,000 km fiber optic network in Norway and data centers in Denmark and IP-Only, which has a 16,000 km fiber optic network in Sweden. The two companies merged last year to form the GlobalConnect group. The Latham team was led by London financial partner Conrad Andersen.

Earlier in June, Clifford Chance took advantage of EQT’s purple patch to advise him on a € 881 million takeover bid from Spanish listed developer of photovoltaic solar panels Solarpack. The deal sees Solarpack shareholders Beraunberri, Burgest 2007 and Landa together selling their nearly 51% stake in what will be a public-private deal as EQT intends to delist the company. The CC team was led by M&A partners Javier Amantegui and Samir Azzouzi in Madrid. CC also recently advised energy company Vattenfall on the sale to German chemicals company BASF of a 49.5% stake in its 1.5 GW Hollandse Kust Zuid offshore wind farm in the Dutch North Sea. CC’s international team advising Vattenfall was led from Amsterdam by partners Hein Tonnaer and Liesbeth Buiter.

Returning with EQT, its investment through EQT Growth in Mollie, one of the largest payment service providers in Europe, paid off for the teams at Freshfields Bruckhaus Deringer and De Brauw Blackstone Westbroek, as EQT participated in a round of funding of $ 800 million with a valuation of $ 6.5. billion. Based in Amsterdam, Mollie enables online payments for businesses in the Netherlands, Belgium, Germany, France and the UK. The company has grown rapidly in recent years with revenues more than doubling in 2020.

The Freshfields team advising EQT was led by London private equity partner Vincent Bergin and the De Brauw team advising Mollie was led by partners Arne Grimme, Henk van Ravenhorst and Mark Rebergen.

Finally, Allen & Overy advised Brookfield Business Partners on its $ 5 billion acquisition of rental services company Modulaire Group from TDR Capital.

The A&O team was led by Dominic Morris, Head of Mergers & Acquisitions in London, Alex Tilley, M&A Partner, and Peter Banks, Private Equity Partner. A&O also advised on the financing, led by London leveraged finance partner Neil Sinha alongside leveraged finance partner Adam Zecharia and capital markets partner Kevin Muzilla. Linklaters acted for Modulair.

In recent years, traders have grown accustomed to forgoing a long summer break as trading volumes showed no signs of slowing down. Whether or not travel abroad allows it, this year seems to be no exception.

[email protected]

Leave a Reply

Your email address will not be published.