Dentons advises Adris grupa on €550 million sale of its tobacco business to British American Tobacco
3 June 2015
Dentons has advised Adris grupa in connection with sale of TDR and other entities within Adris Strategic Business Units Tobacco and Retail, including among others Istragrafika, Hrvatski duhani and the iNovine and Opresa retail chains, for a total enterprise value of €550 million. The transaction, which is subject to the approval of the Shareholders’ Assembly of Adris as well as customary competition clearances, is expected to close in September 2015.
“We are very proud to have had the opportunity to support Adris grupa on this historic transaction that secures the future of TDR’s Kanfanar plant.” commented Rob Irving, the new co-chair of Dentons’ Global Private Equity Group. “This deal is a great example of Dentons’ ability to call upon lawyers located in CEE and the UK, from broad variety of disciplines, to advise on strategic cross-border matters in the South Eastern Europe region.”
A representative of Adris said: “The team at Dentons has been integral to the delivery of a smooth, efficient sale process.”
The Dentons team in Budapest included Partners Rob Irving, Anita Horváth with Associates Eszter Fodor and Orsolya Szabó. They were supported by a team from Dentons’ offices in London and Milton Keynes that included Partners Tom Leyland and Alex Thomas, Counsel Tatiana Kruse and Associates Suhail Qureshi, Christopher Colclough and Nick Harrison. Dentons worked alongside long time Croatian counsel to Adris, Partners Belinda Čačić and Suzana Krog Bonaći and Associate Goran Kristović of Čačić & Partners.
The Budapest team recently joined Dentons from White & Case along with approximately 50 local partners, associates and other professionals to further strengthen Denton’s Corporate M&A and Private Equity offering in Hungary, the Central and South Eastern Europe region and Europe generally.
Dentons is a global law firm driven to provide clients a competitive edge in an increasingly complex and interconnected world. A top 20 firm on the Acritas 2014 Global Elite Brand Index, Dentons is committed to challenging the status quo in delivering consistent and uncompromising quality in new and inventive ways. With a legacy of legal experience that dates back to 1742, Dentons was formed by the combination of international law firm Salans LLP, Canadian law firm Fraser Milner Casgrain LLP (FMC) and international law firm SNR Denton. Dentons’ clients now benefit from approximately 2,600 lawyers and professionals in more than 75 locations spanning 50-plus countries across Africa, Asia Pacific, Canada, Central Asia, Europe, the Middle East, Russia, CIS and the Caucasus, the UK, and the US. The firm serves the local, regional and global needs of a broad spectrum of clients, including private and public corporations; governments and government agencies; small businesses and startups; entrepreneurs; and individuals.