Legal DealFolio - Vodafone Global Offer for Cobra Automotive Technologies

Hogan Lovells has advised Vodafone Global Enterprise Limited on its Euro 145 million (GBP115 million) voluntary tender offer for the entire ordinary issued share capital of Cobra Automotive Technologies S.p.A. (Cobra), listed on Italy's Telematic Share Market managed by Borsa Italiana S.p.A. The offer was announced on 16 June 2014 and marks Vodafone's first public tender offer in Italy. Vodafone simultaneously entered into a framework agreement with Intek Group through subsidiary KME Partecipazioni S.p.A, and Mr. Serafino Memmola; under which Intek and Mr. Memmola have undertaken to accept the offer in respect of their shares, representing in aggregate almost 74% of Cobra's share capital. Vodafone also entered into an agreement with minority shareholders of Cobra's Telematics subsidiary to acquire their 20% shareholding for a consideration of EUR 20 million, conditional on completion of the offer. Cobra is a leading international provider of telematics and security solutions to the automotive and insurance industry, operating through two business units: Cobra Telematics Services, for the supply of telematics services and the development of telematics infrastructure; and Cobra Electronic Systems, focused on the design, development, manufacturing and distribution of electronic systems and components. The cross-practice and cross-border Hogan Lovells team advising Vodafone was led by Rome corporate partner Leah Dunlop and Milan corporate partner Luca Picone; supported by associates Solange Baruffi and Martina Di Nicola; and senior associate Nicoletta Spinaci.

Deal Date:	01-07-2014	Practice Area:	Corporate and M&A
Deal Title:	Vodafone Global Offer for Cobra Automotive Technologies	Industry:	Mobile Telecommunications
Description:	Hogan Lovells has advised Vodafone Global Enterprise Limited on its Euro 145 million (GBP115 million) voluntary tender offer for the entire ordinary issued share capital of Cobra Automotive Technologies S.p.A. (Cobra), listed on Italy's Telematic Share Market managed by Borsa Italiana S.p.A. The offer was announced on 16 June 2014 and marks Vodafone's first public tender offer in Italy. Vodafone simultaneously entered into a framework agreement with Intek Group through subsidiary KME Partecipazioni S.p.A, and Mr. Serafino Memmola; under which Intek and Mr. Memmola have undertaken to accept the offer in respect of their shares, representing in aggregate almost 74% of Cobra's share capital. Vodafone also entered into an agreement with minority shareholders of Cobra's Telematics subsidiary to acquire their 20% shareholding for a consideration of EUR 20 million, conditional on completion of the offer. Cobra is a leading international provider of telematics and security solutions to the automotive and insurance industry, operating through two business units: Cobra Telematics Services, for the supply of telematics services and the development of telematics infrastructure; and Cobra Electronic Systems, focused on the design, development, manufacturing and distribution of electronic systems and components. The cross-practice and cross-border Hogan Lovells team advising Vodafone was led by Rome corporate partner Leah Dunlop and Milan corporate partner Luca Picone; supported by associates Solange Baruffi and Martina Di Nicola; and senior associate Nicoletta Spinaci.
Financial Center:	Rome	Value:	100.01-500.00
Advised Party:	Acquiror	Law Firm	Hogan Lovells
Target Company Jurisdiction:	Italy	Acquiror Jurisdiction:	United Kingdom
Classification:	Strategic Buyer Acquisitions Public Company - Recommended Offer	Lawyer	Leah Dunlop

Practice Areas -

Corporate and M&A Law Firms and Lawyers

Practice Areas - Corporate and M&A Law Firms and Lawyers