Luxembourg brochure - Allen & Overy

14
Our Luxembourg office
Some milestones of our office
We have highlighted below a selection of key deals on which
Allen & Overy Luxembourg has been advising recently.
1_Cegedel
We advised Cegedel, the largest Luxembourg electricity
provider, on the merger with Soteg, a Luxembourg gas
provider, and Saar Ferngas, a German gas provider. This
transaction reshaped the Luxembourg energy market,
particularly the electricity and gas sectors, and it had
cross-border significance for the greater region.
2_ Deutsche Bank AG
We advised Deutsche Bank AG, London Branch as
arranger and investment agent in relation to a USD100m
convertible murabaha facility made available by Sonata
Securities SA (acting via a separate compartment) to Gulf
Finance House (GFH), a leading Islamic investment bank
whereby the strict requirements of Islamic Financing
had to be reconciled with the requirements of the
Luxembourg Securitisation Act 2004.
3_ HBOS and Invista Real Estate
Investment Management
We advised HBOS and Invista Real Estate
Investment Management on the establishment of
their pan-European investment vehicle, being a listed
Luxembourg Société d’Investissement à Capital Fixe (SICAF),
which was successfully listed on the London Stock
Exchange and was in effect the first pan-European REIT.
4_ Kaupthing Bank Luxembourg SA
We advised the interbank creditors on the groundbreaking
restructuring of Kaupthing Bank
Luxembourg SA which was operated by way of a demerger
of Kaupthing Luxembourg by splitting its assets
© Allen & Overy LLP 2012
and liabilities between a new bank to be taken on by a
new financial investor and a Luxembourg securitisation
company that issued various classes of notes in order
to service the debt of the creditors supporting the
restructuring of Kaupthing Luxembourg. In a novel court
order, the Luxembourg court of appeal accepted that only
the interbank creditors vote on a restructuring plan (on
the assumption that depositors and trade creditors will
be repaid in full upon a successful restructuring).
5_ Marguerite Fund
We advised the European Investment Bank, Caisse
des Dépôts et Consignations, Cassa depositi e
prestiti SpA, Instituto de Crédito Oficial, KfW and
Powszechna Kasa Oszczędności Bank Polski Spółka
Akcyjna on the setting up of the Marguerite Fund, a
pan-European infrastructure fund for both public and
private long-term institutional investors. The Marguerite
Fund will focus on investment in the transport, energy and
renewable energy sectors. The fund, set up as a closedend
investment company subject to the Luxembourg
specialised investment fund regime, will be one of
the prime European equity financing vehicles
for infrastructure.
6_Tyco International Ltd
We advised Tyco International Ltd as lead international
counsel on the corporate restructuring for the spin-off of its
healthcare and electronics businesses to Tyco International
shareholders; separating Tyco International Ltd into
three independent, publicly traded companies. This deal
represented the world’s largest spin-off in 2007.