Baker McKenzie advised Claranova on buying out the managers and minority shareholders of Avanquest Canada, Inc., a subsidiary of Avanquest Software SAS which owns the Upclick, SodaPDF and Adaware activities, with the aim of acquiring their remaining preferred shares.
The deal is estimated at EUR 87.9 million, settled 30% in cash and 70% in new Claranova shares and is to be carried out by issuing 7.4 million new Claranova shares, i.e. 15.87% of the share capital, with 65% locked up for one year.
The Baker McKenzie team advising Claranova was composed by Matthieu Grollemund (partner), Raphael Sendowski, Emmanuel Vrillon d’Arcy and Gautier Valdiguie (associates) working on M&A aspects, with Helene Parent (senior associate) and Martin Noire (associate) on Stock exchange/Prospectus aspects, with Aurelie Goville(partner) and Madalina-Georgiana Asandului (associate) on Corporate aspects, with Guillaume Le Camus (partner) and Charles Baudoin (counsel) advising on Tax aspects, and Matthew Grant (partner) and his team on Canadian aspects.
The minority shareholders were advised by Dentons and Brown Rudnick.
Involved fees earner: Emmanuel Vrillon Darcy – August & Debouzy; Madalina-Georgiana Asandului – Baker McKenzie; Charles Baudoin – Baker McKenzie; Aurelie Goville – Baker McKenzie; Matthew Grant – Baker McKenzie; Matthieu Grollemund – Baker McKenzie; Guillaume le Camus – Baker McKenzie; Martin Noire – Baker McKenzie; Hélène Parent – Baker McKenzie; Raphaël Sendowski – Baker McKenzie; Gautier Valdiguié – Baker McKenzie;