26 LEXPERT MAGAZINE
|
JULY/AUGUST 2016
BIG DEALS
ing Northwest. e acquisition was in part
financed with a secured credit facility led by
a Canadian chartered bank as agent and a
syndicate of lenders.
Impark and OTPP were represented by
Osler, Hoskin & Harcourt LLP in both
Canada and the United States on financing,
Pension Benefits Act compliance and general
corporate matters with a team that included
Laurie Barrett, Andrew Herr, Randall Pratt,
Nathan Whitaker, Michael Budabin Mc-
Quown and Marta Rochkin.
e lenders were represented by Blake,
Cassels & Graydon LLP with a team that
included Michael Birch, Jennifer Ruddick
and Aletha Utley, with assistance on US
matters from Dorsey & Whitney LLP
with a team that included Jeffrey Peterson
and Erik Detlefsen.
LEYOU TECHNOLOGIES
ACQUIRES 39% OF DIGITAL
EXTREMES FOR US$65M
CLOSING DATE: MAY 20, 2016
Leyou Technologies Holdings, a Hong Kong
Stock Exchange-listed company, acquired 39
per cent of Digital Extremes, a video game
developer based in London, Ontario, on May
20, 2016, for US$65 million. Leyou Tech-
nologies previously acquired 58 per cent of
Digital Extremes in July 2015 from the same
founder and employee shareholder group
for total consideration of US$69.6 million,
at which time Perfect World (a leading on-
line game developer and operator based in
Beijing, China) acquired 3 per cent. e
acquisition of the remaining 39 per cent of
Digital Extremes by Leyou Technologies was
conducted pursuant to a call option granted
as part of the first acquisition transaction in
July 2015. In aggregate, Leyou Technologies
acquired 97 per cent of Digital Extremes for
total consideration of US$134.6 million.
A team at Bennett Jones LLP, led by
Ian Michael (corporate) and including Si-
mon Grant and Ryan Baker (corporate)
and Martin Sorenson (tax) advised Leyou
Technologies on Canadian matters along-
side Hong Kong counsel to Leyou Tech-
nologies, Orrick, Herrington & Sutcliffe,
with a team led by Maurice Hoo (corpo-
rate) and at included Connie Cheung
and Colin Au (corporate).
Karen McKay, a partner at Harrison
Pensa LLP, represented Digital Extremes
Limited and the vendors.
Energy & Power Pipelines
Automotive Materials
Utilities Financials Health Research
Media & Entertainment Recreation & Leisure Advertising & Marketing
E-Commerce Construction & Engineering
Consumer Staples
FYFFES ACQUIRES CANADA'S
LARGEST MUSHROOM
BUSINESS FOR $145M
CLOSING DATE: MARCH 31, 2016
On March 31, 2016, Fyffes plc completed the
$145 million purchase of Canadian mush-
room producer and distributor Highline
Produce Limited.
Fyffes plc is a leading importer and dis-
tributor of tropical produce, with operations
in Europe, the US and Central and South
America and headquarters in Dublin.
Highline is a fully integrated mushroom
business operating from five facilities. It is
the largest operator in the mushroom cat-
egory in Canada.
McCarthy Tétrault LLP advised Fyffes
in Canada with a team led by Lara Nathans
that also included Ryan Hornby, Matthew
Harris, Emma Sarkisyan and Suraj Ram-
mohan (M&A), Patrick McCay (tax), Kate
McNeill-Keller (labour and employment)
and Joanna Rosengarten (environmental).
Holland & Knight also advised Fyffes, with
a team consisting of George Mencio, Emma
Solaun, David Barkus, Henry Roque and
Danica Malloy.
Blake, Cassels & Graydon LLP advised
Highline, with a team consisting of Gordon
McKenna, Michelle Laniel, Eric Richmond
and David Bristow. McDermott Will &
Emery also advised Highline with a team
consisting of Brooks Gruemmer, Bernardo
Vaz and Robert Clagg.
Consumer Services Energy & Power Pipelines
Aerospace & Defence Automotive Materials
Utilities Financials Health Research
Media & Entertainment Recreation & Leisure Advertising & Marketing
E-Commerce Construction & Engineering
Consumer Staples
CANADA HOUSING
TRUST NO. 1 COMPLETES
$5B PUBLIC OFFERING
CLOSING DATE: MARCH 22, 2016
On March 22, 2016 Canada Housing Trust
No. 1, a special purpose securitization trust,
completed a debt financing comprising the
issuance of 1.250 per cent Canada Mortgage
Bonds, Series 71, in an aggregate principal
amount of $5 billion, provided with Canada's
sovereign guarantee through Canada Mort-
gage and Housing Corporation (CMHC).
CMHC was represented in-house by
Sébastien Gignac, Reem Hindieh and Au-
drey Chauvin, who were assisted by Borden
Ladner Gervais LLP, counsel to CMHC
and special counsel to the trust, with a
Toronto-based team including Rosalind
Morrow, Francesca Smirnakis and Colin
Cameron-Vendrig (corporate and securities),
Stephen Redican, Gus Karantzoulis, Aliza
Premji and Arthur Nahas (banking and fi-
nancial services) and Daniel Lang (tax); and
Johanne omas (civil) in Montréal.
In the US, CMHC and the trust were
represented by John Donovan, Sang Ji,
Terry O'Brien and Steven Gee of White &
Case LLP.
