Consilio Acquires UK-based eDisclosure and Forensic-Consulting Services Provider, Proven Legal Technologies

/ Law Firm Technology, Press Releases / / By
Ediscovery lawfuel

WASHINGTON, D.C. AND LONDON – DECEMBER 2, 2015 – Consilio, a global leader ineDiscovery and Document Review Services, has acquired U.K.-based Proven Legal Technologies, an eDisclosure and forensic-consulting services provider and Relativity premium-hosting partner. This acquisition will fuel Consilio’s continued growth by deepening its team of experienced eDiscovery and forensics consulting resources in Europe and enabling it to offer Relativity hosting services to its global clients.

 

Proven Legal Technologies, which was founded in 2006 as Palmer Legal Technologies, is one of the longest tenured and most respected eDisclosure and forensic-consulting services providers in the United Kingdom. Having served hundreds of law firms and corporate clients over the years, Proven Legal Technologies augments Consilio’s services with its deep experience in supporting client responses to litigation or inquiries from the U.K.’s Financial Conduct Authority (FCA), Serious Fraud Office (SFO), European Commission (EC) and other regulatory authorities.

 

“We’re very excited to join forces with the Proven Legal Technologies team,” explained Andy Macdonald, Consilio’s Chief Executive Officer. “Our considerable growth in Europe and the sophisticated demands of our clients necessitate a commitment to our internal capabilities and resource pool. Bringing Proven Legal Technologies into the Consilio family helps serve our clients by adding an immensely talented team with an exceptional track record in one of our key markets.”

 

“We have known the Consilio team for quite some time now and have been very impressed with their capabilities, tremendous growth and expanding global presence,” said Adrian Palmer, managing partner of Proven Legal Technologies. “By partnering with Consilio, we will be able to offer our clients access to a broader array of services in more geographies, at the massive scale necessary for today’s market. Our successful history with Relativity will also create opportunities for cross-client growth. We are very excited about our future.”

 

About Proven Legal Technologies

Proven Legal Technologies is a leading corporate forensic investigation and eDisclosure services provider based in the United Kingdom. Founded in 2006 as Palmer Legal Technologies, Proven Legal Technologies works closely with legal professionals and regulation authorities, offering a regulatory response service in addition to expert litigation consulting services and forensic investigations services to assist clients with managing the challenges of global eDisclosure and eDiscovery.

 

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Sullivan & Cromwell Represent China Mobile In US4.9 Billion Deal

/ Press Releases / December 3, 2015 / By
Sullivan cromwell

Sullivan & Cromwell represents China Mobile Limited in connection with its subsidiary CM TieTong’s (China) agreement with TieTong (China), a wholly owned subsidiary of China Mobile Communications Corporation, under which CM TieTong has agreed to acquire, and TieTong has agreed to sell, the Target Assets and Businesses for RMB31.88 billion (equivalent to approximately US$4.9 billion), announced November 27, 2015. The S&C team on the transaction includes:

Corporate:

Kay Ian Ng (Partner, Hong Kong)

Vivian Tse (Associate, Hong Kong)

Pengwei Liu (Associate, Hong Kong)

 

ACQUISITION OF THE TARGET ASSETS AND BUSINESSES FROM CHINA TIETONG TELECOMMUNICATIONS CORPORATION Financial Adviser to China Mobile Limited THE ACQUISITION On 27 November 2015, CM TieTong (a wholly-owned subsidiary of the Company) entered into the Acquisition Agreement with TieTong (a wholly-owned subsidiary of CMCC), under which CM TieTong has agreed to acquire, and TieTong has agreed to sell, the Target Assets and Businesses. The Consideration for the Acquisition is RMB31.88 billion (equivalent to approximately HK$38.67 billion) and is subject to the Price Adjustment Mechanism described in the Acquisition Agreement. In addition, CM TieTong will also assume Net Debt of approximately RMB2.34 billion (equivalent to approximately HK$2.84 billion). The Price Adjustment Amount will not exceed RMB1 billion (equivalent to approximately HK$1.21 billion). The final consideration will not exceed RMB32.88 billion (equivalent to approximately HK$39.88 billion).

The Consideration will be paid by CM TieTong to TieTong on the Completion Date. The Price Adjustment Amount will be paid by CM TieTong to TieTong within 15 working days after the independent auditor has submitted the audit report in relation to the Target Assets and Businesses as at the Completion Date.

The payment of the Consideration and the Price Adjustment Amount will be funded by the Group’s internal resources. 14.58(1) Note 5 to 13.52 13.51A – 2 – LISTING RULES IMPLICATIONS TieTong is currently a wholly-owned subsidiary of CMCC, the ultimate controlling shareholder of the Company.

Thereby, TieTong is a connected person of the Company pursuant to Rule 14A.07 of the Listing Rules. Therefore, the entering into the Acquisition Agreement by CM TieTong and the Acquisition itself constitute a connected transaction for the Company under Chapter 14A of the Listing Rules. As at least one relevant percentage ratio applicable to the Acquisition is or exceeds 0.1% but is less than 5%, the Acquisition is subject to the reporting and announcement requirements but exempt from the independent shareholders’ approval requirements under Chapter 14A of the Listing Rules.

WARNING: The completion of the Acquisition is subject to the satisfaction (or, if applicable, waiver) of certain conditions set forth in the section headed “Conditions Precedent” in this announcement, and hence the completion of the Acquisition may or may not happen. Shareholders, holders of ADSs and potential investors of the Company should therefore exercise caution when dealing in the Shares, ADSs or other securities of the Company. Persons who are in doubt as to the action they should take should consult their stockbroker, bank manager, solicitor or other professional advisers.

INTRODUCTION On 27 November 2015, CM TieTong (a wholly-owned subsidiary of the Company) entered into the Acquisition Agreement with TieTong (a wholly-owned subsidiary of CMCC), under which CM TieTong has agreed to acquire, and TieTong has agreed to sell, the Target Assets and Businesses.

THE ACQUISITION AGREEMENT Date 27 November 2015 Parties Seller: TieTong Purchaser: CM TieTong 14.58(3) 1

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