DOCSLIB.ORG

M+A 2017 Annual Review

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
M+A 2017 Annual Review M+A 2017 Annual Review 2017 3 5 IN REVIEW Axalta Daiwa 7 9 11 GLP McAfee Mobileye 13 15 17 Rao’s SoftBank Starwood Energy 19 21 23 Syneron Toshiba Representative Deals WELCOME TO OUR 2017 M+A ANNUAL REVIEW To our clients and friends: The uncertain geopolitical, regulatory and economic climate of 2017 made for an unpredictable global M&A market. But the structural demand for consolidation in several key industries and for growth across the board, coupled with a buoyant stock market, strong corporate earnings and other macroeconomic tailwinds in most of the key financial markets, resulted in strong deal flow in the U.S. and around the globe. As we open the new year with momentum, we are optimistic about 2018. Technology M&A continues to be a mainstay of our global M&A practice. The trend toward global consolidation through cross-border M&A plays to our strengths, and leading companies and private equity funds from around the world continue to look to Morrison & Foerster to advise them on their most significant and complex transactions. Our market position is particularly strong in semiconductors, where we handled both Toshiba’s $18 billion sale of its wholly-owned subsidiary Toshiba Memory Corporation to a consortium led by Bain Capital, which is the largest private equity deal ever in Asia, and Mobileye’s $15.3 billion acquisition by Intel, which is the largest ever tech M&A transaction involving an Israeli company. The firm’s longtime client SoftBank also had a very active year, keeping us busy across our global M&A network with multiple, billion dollar acquisitions and investments in a range of emerging technologies. In 2017 we saw significant activity in healthcare and life sciences, energy, financial services, food and beverage and other key sectors, with clients ranging from Axalta Coating Systems to Boyd Gaming to Rao’s Specialty Foods to Hitachi. Our growing energy M&A and Private Equity practice enjoyed another strong year, with multiple transactions for Axium Infrastructure, UBS Infrastructure and D.E. Shaw, among others. 1 MORRISON & FOERSTER Our clients faced new challenges from the growing threat of data breaches and other cybersecurity risks. No firm is better equipped to handle these challenges. As privacy and cybersecurity become a regular part of due diligence and risk management, we are partnering with clients to help them understand and mitigate these risks in the context of contemplated acquisitions. We also continue to be a leader in helping our clients understand and manage the increasingly challenging CFIUS review process, the uncertainties presented by Brexit, the dramatic changes in the U.S. tax regime, the changing landscape of deal-related litigation and the now-pervasive impact of shareholder activism. We are proud of our work this past year for our innovative, market-leading clients. We hope you will take a few minutes to scan the following pages, which highlight just a few of the many transactions we were honored to have worked on in 2017. We thank our clients and friends for entrusting us with your work, and we look forward to our continued partnership in 2018. MORRISON & FOERSTER LLP 161 $113 BILLION 72 M&A TRANSACTIONS APPROXIMATE TOTAL VALUE NEW CORPORATE ATTORNEYS GLOBALLY 17 82 18 TRANSACTIONS OVER CROSS-BORDER DEALS INDUSTRIES $1 BILLION IN VALUE 2017 M+A ANNUAL REVIEW 2 Axalta Morrison & Foerster represented Axalta Coating Systems in its acquisition of Valspar’s North American Industrial Wood Coatings business from Valspar Corporation and The Sherwin-Williams Company. Axalta is a leading global supplier of liquid and powder coatings headquartered in Philadelphia, Pennsylvania. It develops and manufactures coatings for light and commercial vehicles, industrial, and refinish applications. Valspar’s North American Industrial Wood Coatings business is one of the leading providers of coatings for Original Equipment Manufacturer (OEM) and aftermarket industrial wood markets, including building products, cabinets, flooring, and furniture in North America. We also represented Axalta in its acquisition of Ellis Paint Company, a prominent manufacturer of industrial and automotive refinish paint in North America; its acquisition of Spencer Coatings Group, a leading manufacturer of high-performance industrial coatings for heavy-duty equipment, general industrial, oil and gas, and glass coatings segments; and its proposed mergers with Akzo Nobel N.V. and Nippon Paint Holdings, Co., Ltd. 3 MORRISON & FOERSTER They make sure that they understand the exact nature of our challenges before coming up with practical and legally compliant recommendations. – Client Quote, Chambers USA 2017 THIS IS AN OUTSTANDING OPPORTUNITY FOR AXALTA TO ENTER THE LARGE INDUSTRIAL WOOD COATINGS MARKET WITH AN INDUSTRY-LEADING PORTFOLIO OF PRODUCTS AND CUSTOMERS. THE STRONG REPUTATION ENJOYED BY THESE BRANDS AMONG A LONG-TERM CUSTOMER BASE WILL PROVIDE AN EXCELLENT PLATFORM FOR FUTURE GROWTH IN THIS IMPORTANT MARKET. THIS ACQUISITION CONTINUES TO BUILD ON OUR STRATEGY TO STRENGTHEN AND FURTHER DIVERSIFY OUR PERFORMANCE COATINGS SEGMENT. Charlie Shaver, Chairman and CEO of Axalta 2017 M+A ANNUAL REVIEW 4 Daiwa Morrison & Foerster represented Daiwa Securities Group, Inc. in its acquisition of both Sagent Advisors and Signal Hill Holdings LLC. These strategic acquisitions strengthen Daiwa’s global advisory business by combining both operations to form a new North America-focused M&A advisory firm to be called “DCS Advisory,” which would be the result of the anticipated post-closing integration and combination of Sagent and Signal Hill. Daiwa is a premier global financial services company based in Japan. EXPANDING OUR COMPANY’S M&A ADVISORY BUSINESS CONTINUES TO BE CORE TO OUR STRATEGIC GROWTH. CROSS-BORDER M&A INVOLVING JAPANESE CORPORATES HAS GROWN SIGNIFICANTLY OVER THE PAST 10 YEARS AND WE BELIEVE THAT THIS TRANSACTION IS AN EXCELLENT OPPORTUNITY TO BOLSTER OUR GLOBAL ADVISORY CAPABILITIES WITH TWO STRONG AND DISTINGUISHED NORTH AMERICAN INVESTMENT BANKS. Seiji Nakata, President and CEO of Daiwa Securities Group 5 MORRISON & FOERSTER Quite a few international firms are good . however, the efficiency of MoFo is more impressive. – Client Quote, Chambers Asia-Pacific 2017 2017 M+A ANNUAL REVIEW 6 GLP Morrison & Foerster represented Singapore Exchange-listed GLP Pte Ltd. in the privatization of GLP by way of a scheme of arrangement, pursuant to which Nesta Investment Holdings Limited acquired all of the issued and paid-up ordinary shares in the capital of GLP. The transaction values the company at approximately $11.64 billion. The deal has been reported to be the largest private equity buyout of an Asian company by enterprise value. AFTER AN EXTENSIVE EVALUATION OF ALL FINAL PROPOSALS RECEIVED, THE SPECIAL COMMITTEE DECIDED ON TH[IS] SCHEME, WHICH WE BELIEVE IS COMPELLING AND VALUE-ENHANCING FOR ALL SHAREHOLDERS. Seek Ngee Huat, Chairman of GLP’s Board 7 MORRISON & FOERSTER Significant M&A clientele, including corporate heavyweights across Asia. – Chambers Asia-Pacific 2017 2017 M+A ANNUAL REVIEW 8 McAfee Morrison & Foerster represented McAfee in its acquisition of Campbell, California-based Skyhigh Networks, Inc. Skyhigh is the worldwide leader in the cloud access security broker (CASB) market segment. With the addition of Skyhigh, McAfee cloud security solutions now provide visibility, advanced threat prevention, and data protection controls across all clouds to secure network traffic, workloads, and data. 9 MORRISON & FOERSTER Morrison & Foerster is a strong corporate law firm, with top-notch support in M&A and technology transactions generally. The advice their lawyers give is practical and actionable. – Chambers USA 2017 SKYHIGH NETWORKS HAD THE FORESIGHT FIVE YEARS AGO TO REALIZE THAT CYBERSECURITY FOR CLOUD ENVIRONMENTS COULD NOT BE AN IMPEDIMENT TO, OR AFTERTHOUGHT OF, CLOUD ADOPTION… SKYHIGH’S LEADERSHIP IN CLOUD SECURITY, COMBINED WITH MCAFEE’S SECURITY PORTFOLIO STRENGTH, WILL SET THE COMPANY APART IN HELPING ORGANIZATIONS OPERATE FREELY AND SECURELY TO REACH THEIR FULL POTENTIAL. Chris Young, CEO of McAfee 2017 M+A ANNUAL REVIEW 10 Mobileye Morrison & Foerster represented Mobileye N.V., a public limited liability company organized under Dutch law and headquartered in Israel, in its $15.3 billion acquisition by Intel Corporation. Mobileye is the global leader in developing computer vision and machine learning–based sensing, mapping and driving policy technology for advanced driver assistance systems and autonomous driving technologies. At the time of the acquisition, Mobileye was a “foreign private issuer” with shares listed on the New York Stock Exchange. Morrison & Foerster represented Mobileye since its days as a private company, through its institutional private placements, its IPO and follow-on offering, and most recently in its sale. This was the largest-ever tech M&A transaction involving an Israeli company. The transaction was recognized as “highly commended” in the Enabling Business Growth category at the 2017 Financial Times’ North America Innovative Lawyers awards. 11 MORRISON & FOERSTER MoFo is clearly a leading firm for international M&A transactions. – Chambers Global 2017 THE CHIP MAKER’S ACQUISITION OF MOBILEYE . IS ONE OF THE LARGEST IN THE FAST-GROWING SECTOR AND SETS THE STAGE FOR INCREASING COMPETITION BETWEEN SILICON VALLEY GIANTS AS WELL AS TRADITIONAL AUTOMAKERS OVER WHO WILL DOMINATE THE WORLD OF AUTONOMOUS CARS. The New York Times, March 13, 2017 2017 M+A ANNUAL REVIEW 12 Rao’s Morrison & Foerster
Load more

Recommended publications
  • Printmgr File
    IMPORTANT NOTICE NOT FOR DISTRIBUTION IN OR INTO THE UNITED STATES OR TO U.S. PERSONS OR OTHERWISE THAN TO PERSONS TO WHOM IT CAN LAWFULLY BE DISTRIBUTED IMPORTANT: You must read the following disclaimer before continuing. The following disclaimer applies to the attached offering memorandum. You are advised to read this disclaimer carefully before accessing, reading or making any other use of the attached offering memorandum. In accessing the attached offering memorandum, you agree to be bound by the following terms and conditions, including any modifications to them from time to time, each time you receive any information from us as a result of such access. CONFIRMATION OF YOUR REPRESENTATION: You have accessed the attached document on the basis that you have confirmed your representation to the issuer and to Deutsche Bank AG, London Branch, Citigroup Global Markets Limited, Goldman Sachs International, Morgan Stanley & Co. International plc, Mizuho International plc, Mizuho Securities Asia Limited, Crédit Agricole Corporate and Investment Bank, Merrill Lynch International, J.P. Morgan Securities plc, UBS AG Hong Kong Branch, Barclays Bank PLC, BNP Paribas, Credit Suisse (Hong Kong) Limited, Daiwa Capital Markets Europe Limited, ING Bank N.V., Singapore Branch, Nomura International plc and SMBC Nikko Capital Markets Limited (together, the “Initial Purchasers”) that (1) you are not a U.S. Person, as defined in Regulation S under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or a dealer or professional fiduciary acting
    [Show full text]
  • IBQ Brand Campaign Centres on Human Relations in Banking
    SHIPPING LOSS | Page 5 RATES STEADY | Page 15 Maersk Q3 net Fed sets the tumbles 44% stage for hike To advertise here to $429mn in December Call: Thursday, November 3, 2016 Safar 3, 1438 AH LOW OIL PRICES ENVIRONMENT: Page 16 Local debt market key GULF TIMES to Qatar infrastructure development, says BUSINESS Doha Bank CEO ‘Barwa Real Estate syndicating $250mn Islamic loan’ Barwa Real Estate is raising $250mn via comment. Barwa, 45% owned by Qatari an Islamic syndicated loan led by Standard Diar, which in turn is owned by the Qatari Chartered, banking sources said. Investment Authority, is the largest Qatari The loan, with a seven-year maturity and real estate company by developments. It off ering a price in the 250-300 basis point had a total asset capitalisation of QR66bn range over the London Interbank Off ered ($18bn) at the end last year, according Rate, was launched to syndication very to its website. The company last week recently, they said. The loan will refinance reported a 136.2% rise in third-quarter net existing debt, one banker said. profit to QR297.4mn, according to Reuters Barwa could not be reached for immediate calculations. Portugal doubles value of its exports to Qatar in H1 2016 By Peter Alagos “Portugal also exported some base met- The anniversary celebrations was highlighted by the awarding of tokens of appreciation to five of IBQ’s oldest customers. Business Reporter als and articles such as machinery, electric materials, and other products. On the other hand, topping the list of imports are plastics ortugal almost doubled the value of its and others, representing almost 97%.
    [Show full text]
  • Printmgr File
    OFFERING MEMORANDUM STRICTLY CONFIDENTIAL NOT FOR DISTRIBUTION IN THE UNITED STATES OF AMERICA OR TO U.S. PERSONS SoftBank Group Corp. $2,750,000,000 6.000% Undated Subordinated NC6 Resettable Notes $1,750,000,000 6.875% Undated Subordinated NC10 Resettable Notes Issue Price: 100.00% The $2,750,000,000 6.000% Undated Subordinated NC6 Resettable Notes (the “NC6 Notes”) and the $1,750,000,000 6.875% Undated Subordinated NC10 Resettable Notes (the “NC10 Notes” and, together with the NC6 Notes, the “Notes” and each, a “Tranche,” the terms and conditions of both Tranches being together, the “Conditions”)) will be issued by SoftBank Group Corp. (the “Company”) on or about July 19, 2017 (the “Issue Date”). The Notes will bear interest on their principal amount from (and including) the Issue Date to (but excluding) July 19, 2023 (in the case of the NC6 Notes) and July 19, 2027 (in the case of the NC10 Notes) at a rate of 6.000 percent and 6.875 percent per annum respectively. Thereafter, the prevailing interest rate on the NC6 Notes and the NC10 Notes shall be 4.226 percent and 4.854 percent per annum, respectively, above the 5 Year Swap Rate for the relevant Reset Period (as defined in the relevant Conditions) and from (and including) July 19, 2038 (in the case of the NC6 Notes) and July 19, 2042 (in the case of the NC10 Notes) (each, a “Second Step-up Date”) the applicable interest rate on the NC6 Notes and the NC10 Notes shall be 4.976 percent and 5.604 percent per annum, respectively, above the 5 Year Swap Rate for the relevant Reset Period.
    [Show full text]
  • ANNUAL REPORT 2019 Softbank Group Corp
    ANNUAL REPORT 2019 SoftBank Group Corp. ANNUAL REPORT 2019 Disclaimers to be correct, and actual results, performance or achievements could User Guide materially differ from expectations. Persons viewing this annual report • This annual report provides relevant information about the Group and This PDF has various features to make it easy to use and to search for should not place undue reliance on forward-looking statements. We does not constitute or form any solicitation of investment including any information. It also contains links to external websites to allow you to undertake no obligation to update any of the forward-looking statements offer to buy or subscribe for any securities in any jurisdiction. refer to external information easily. contained in this annual report or any other forward-looking statements • This annual report contains forward-looking statements, beliefs or opinions we may make. Past performance is not an indicator of future results and regarding the Group, such as statements about the Group’s future the results of the Group in this annual report may not be indicative of, and business, future position and results of operations, including estimates, Contents are not an estimate, forecast or projection of our future results. forecasts, targets and plans for the Group. Without limitation, forward- • We do not guarantee the accuracy of information in this report regarding Click to go to the first page of each category. looking statements often include the words such as “targets”, “plans”, companies (including, but not limited to, those in which SoftBank Vision SoftBank Group Corp. “believes”, “hopes”, “continues”, “expects”, “aims”, “intends”, “will”, Towards the AI Era Essential Information Growth Strategy Management Organization Financial Section Corporate Information Fund has invested) other than the Group which has been quoted from ANNUAL REPORT 2019 006 “may”, “should”, “would”, “could” “anticipates”, “estimates”, “proj- public and other sources.
    [Show full text]
  • Financial Express 6
    OPINION, P6 ECONOMY, P2 INTERNATIONAL, P10 FAYE FLAM EDITORIAL BRICS MEET NEW US PRESIDENT Covid reinfection Biden may mean a tougher India supports China, Russia hold policy environment for seems mostly India, but US U-turn expansion of NDB off on congratulating to be an outlier on climate is welcome membership Joe Biden PUNE, TUESDAY, NOVEMBER 10, 2020 FOLLOW US ON TWITTER & FACEBOOK. APP AVAILABLE ON APP STORE & PLAYSTORE WWW.FINANCIALEXPRESS.COM VOL. XI NO. 244, 22 PAGES, `6.00PUBLISHEDFROM:AHMEDABAD,BENGALURU,CHANDIGARH, CHENNAI,HYDERABAD,KOCHI,KOLKATA,LUCKNOW,MUMBAI, NEWDELHI,PUNE READ TO LEAD SENSEX: 42,597.43 ▲ 704.37 NIFTY: 1,2461.05 ▲ 197.50 NIKKEI 225: 24,839.84 ▲ 514.61 HANG SENG: 26,016.17 ▲ 303.20 `/$: 74.14 ▲ 0.06 `/€: 88.03 ▼ 0.16 BRENT: $42.43 ▲ $2.98 GOLD: `52,280 ▲ `88 IN THE NEWS LIFETIME HIGHS ● 40-PLUS SHOT IN THE ARM FY22-26: 15th Oil jumps by FC retains states’ Markets on fire as most since Pfizer’s Covid-19 vaccine tax share June on Covid THE 15TH Finance prevents 90% of infections Commission, which submitted its report for the recovery gains pace vaccine news ROBERT LANGRETH, NAOMI if further research shows the period FY22-FY26 to the ALEX LONGLEY KRESGE & RILEY GRIFFIN ■ In early ■BioNTech shot is also safe. President on Monday, is Sensex Number of Cos with a November 9 November 9 trading, American Pfizer shares rose 8% in learnt to have just about Nifty jumps minimum Mcap of `1,000 cr shares of depository early trading, with BioNTech 50,000 Pfizer rose receipts were retained states’ aggregate 198 points; Sensex 41,306.02 42,597.43 1,000 (Quarter ended) OIL IN LONDON jumped by THE COVID-19 VACCINE American depository receipts share in the tax pool at the the most since June as Pfizer being developed by Pfizer as much as up about up about 19%.
    [Show full text]
  • US Treasury Yield Spike Derails IRFC but Asian Credit Shows Resilience
    IFRASIA INTERNATIONAL FINANCING REVIEW ASIA MARCH 13 2021 ISSUE 1178 www.ifre.com Coupang delivers roaring NYSE debut stoked by lots of unfulfilled orders US Treasury yield spike derails IRFC but Asian credit shows resilience NYSE pariah China Telecom plans A-share homecoming in Shanghai INSIDE: OUTLOOK FOR ASIAN CREDIT ROUNDTABLE LOANS BONDS EQUITIES PEOPLE & MARKETS Leveraged finance Indian infrastructure Powdered milk Orion Credit steps makes a comeback issuers turn to maker shelves up pace of lending in Australia as orphan SPVs to Indonesian IPO on after OMERS pandemic eases sidestep yield cap valuation concerns capital infusion 07 08 08 12 B&RYHULQGG LOOKING FOR A WIDER VIEW OF THE GLOBAL SYNDICATED LOAN MARKET? LOOK TO LPC LPC is the premier global provider of information on the syndicated loan markets. Our first-to- the-market news and comprehensive real-time and historical data help industry players stay informed about market trends and facilitate trading and investment decisions. LPC’s publications, end-of-day valuations, online news, analysis, and interactive databases are used every day by banks, asset managers, law firms, regulators, corporations and others to drive valuation, syndication, trading, research and portfolio management activities. CONNECT TO THE GLOBAL SYNDICATED LOAN MARKET WITH LPC. www.loanpricing.com [email protected] Upfront OPINION INTERNATIONAL FINANCING REVIEW ASIA Impossible India benign of market conditions. %VENûCOMPANIESûWITHû53ûDOLLARûBONDSûTOûRElNANCEûnû ndia has always made it hard for the capital markets. If like Delhi International Airport – have been forced to a once-in-a-lifetime public health crisis and a banking use complicated offshore pass-through structures to get I sector that is running dangerously low on capital cannot themselves out of a tight spot.
    [Show full text]
  • Notice of the 38Th Annual General Meeting of Shareholders (April 1, 2017 to March 31, 2018, “FY2017” Or “This Fiscal Year”)
    This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between the translated document and the Japanese original, the original shall prevail. SoftBank Group Corp. assumes no responsibility for this translation or for direct, indirect or any other forms of damages arising from the translation. Notice of the 38th Annual General Meeting of Shareholders (April 1, 2017 to March 31, 2018, “FY2017” or “this fiscal year”) Information of the Meeting Date and Time: 10:00 AM, Wednesday, June 20, 2018 (Reception will start at 9:00 AM) Venue: Hall A, Tokyo International Forum 5-1, Marunouchi 3-chome, Chiyoda-ku, Tokyo Agenda of the Proposal 1: Appropriation of Surplus Meeting: Proposal 2: Election of Twelve Directors Proposal 3: Revision of Remuneration Paid to Directors Proposal 4: Issuance of Stock Acquisition Rights as Stock Options th Table of Contents Notice of the 38 Annual ■ General Meeting of 2 Shareholders Reference Materials for the ■ Annual General Meeting of 6 Shareholders ■ Business Report 30 Consolidated Financial ■ 61 Statements Non-consolidated Financial ■ 63 Statements ■Audit Reports 65 SoftBank Group Corp. Stock code: 9984 I am pleased to notify you of the 38th Annual SBG expects the combined company to be a General Meeting of Shareholders. force for positive change in mobile In FY2017, SoftBank Group Corp. (“SBG”) communications, video, and broadband set out its global strategy and pressed ahead markets in the U.S., and that it will disrupt the with a full-fledged transformation to a marketplace and lay the foundation for U.S.
    [Show full text]
  • ANNUAL REPORT 2017 Softbank Group Corp
    ANNUAL REPORT 2017 SoftBank Group Corp. Trajectory of Bringing Essential Management Financial Corporate ANNUAL REPORT 2017 the Information Revolution the Future Forward Information Organization Section Information Disclaimers Definition of Terms • This annual report is made based on information available at the time of • “Fiscal 2016” refers to the fiscal year ended March 31, 2017, and other writing. Plans, forecasts, strategies, and other forward-looking statements fiscal years are referred to in a corresponding manner in this annual in this report are not historical facts, and include elements of risk and report. FYE denotes the fiscal year-end. For example, FYE2016 denotes uncertainty. Actual results may therefore differ materially from these for- March 31, 2017, the last day of fiscal 2016. ward-looking statements due to changes in the business environment and other factors. Company Names • Information in this report regarding companies other than the Company • Unless specifically stated otherwise ”SBG” refers to SoftBank Group Corp. is quoted from public and other sources. We do not guarantee the accu- and “the Company” refers to SoftBank Group Corp. and its subsidiaries. racy of this information. Please refer to page 90 for the abbreviation of subsidiaries’ and associates’ • The Company expressly disclaims any obligation or responsibility to update, company names. revise or supplement any forwardlooking statements in any presentation material or generally to any extent. Use of or reliance on the information Regarding Trademarks in this annual report is at your own risk. • TM and © 2017 Apple Inc. All rights reserved. Apple and iPhone are trademarks of Apple Inc., registered in the U.S.
    [Show full text]
  • Printmgr File
    IMPORTANT NOTICE NOT FOR DISTRIBUTION IN OR INTO THE UNITED STATES OR TO U.S. PERSONS OR OTHERWISE THAN TO PERSONS TO WHOM IT CAN LAWFULLY BE DISTRIBUTED IMPORTANT: You must read the following disclaimer before continuing. The following disclaimer applies to the attached offering memorandum. You are advised to read this disclaimer carefully before accessing, reading or making any other use of the attached offering memorandum. In accessing the attached offering memorandum, you agree to be bound by the following terms and conditions, including any modifications to them from time to time, each time you receive any information from us as a result of such access. CONFIRMATION OF YOUR REPRESENTATION: You have accessed the attached document on the basis that you have confirmed your representation to the issuer and to Deutsche Bank AG, London Branch, Citigroup Global Markets Limited, Goldman Sachs International, Morgan Stanley & Co. International plc, Mizuho International plc, Mizuho Securities Asia Limited, Crédit Agricole Corporate and Investment Bank, Merrill Lynch International, J.P. Morgan Securities plc, UBS AG Hong Kong Branch, Barclays Bank PLC, BNP Paribas, Credit Suisse (Hong Kong) Limited, Daiwa Capital Markets Europe Limited, ING Bank N.V., Singapore Branch, Nomura International plc and SMBC Nikko Capital Markets Limited (together, the “Initial Purchasers”) that (1) you are not a U.S. Person, as defined in Regulation S under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or a dealer or professional fiduciary acting
    [Show full text]
  • Notice of the 39Th Annual General Meeting of Shareholders (April 1, 2018 to March 31, 2019, “FY2018” Or “This Fiscal Year”)
    This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between the translated document and the Japanese original, the original shall prevail. SoftBank Group Corp. assumes no responsibility for this translation or for direct, indirect or any other forms of damages arising from the translation. Notice of the 39th Annual General Meeting of Shareholders (April 1, 2018 to March 31, 2019, “FY2018” or “this fiscal year”) Information of the Meeting Date and Time: 10:00 AM, Wednesday, June 19, 2019 (Reception will start at 9:00 AM) Venue: Hall A, Tokyo International Forum 5-1, Marunouchi 3-chome, Chiyoda-ku, Tokyo Agenda of the Proposal 1: Appropriation of Surplus Meeting: Proposal 2: Election of Twelve Board Directors Proposal 3: Election of One Audit & Supervisory Board Member th Table of Contents Notice of the 39 Annual ■ General Meeting of 3 Shareholders Reference Materials for the ■ Annual General Meeting of 7 Shareholders ■ Business Report 20 Consolidated Financial ■ 52 Statements Non-consolidated Financial ■ 54 Statements ■ Audit Reports 56 SoftBank Group Corp. Stock code: 9984 Corporate Philosophy and Vision Corporate Information Revolution – Happiness for everyone Philosophy Since our founding, the SoftBank Group has sought to use the Information Revolution to contribute to the wellbeing of people and society. What does happiness mean? Different people will give different answers: “To love and be loved;” “To live each day to the full;” “To express oneself;” “To smile.” But in essence, happiness is a form of inspiration. Why is the Group engaged in its business and what does it aim to achieve? The answer is simple: to bring happiness and give inspiration to people — a vision that has guided us since our founding and is encapsulated in our corporate philosophy.
    [Show full text]
  • The Case for Indian VC
    The Case for Indian VC David Nathaniel Back April 4, 2019 The Case for Indian VC About the Author David Back is the co-founder of Zoomcar, the first car rental company in India to focus on “western-style” rentals with no chauffeur. Zoomcar launched in February 2013 with 7 cars in Bangalore. By the time Back left day-to-day management at the end of May 2015, it had grown to about 1,500 cars in 6 cities. The business continues to grow, and now has over 9,000 cars in more than 45 Indian cities. Zoomcar’s investors include Ford Motor Company, Mahindra & Mahindra, Sequoia Capital, Nokia Growth Partners, FundersClub, EmpireAngels, Former Infosys CFO Mohandas Pai, British politician and businesswoman Lady Barbary Judge, Former US Treasury Secretary Larry Summers, as well as professors at Wharton, Harvard Law School, and Cambridge University’s Judge School of Business. Back graduated magna cum laude from the University of Pennsylvania and cum laude from Harvard Law School, where he had teaching fellowships on the history and future of globalization under Niall Ferguson and under Larry Summers and Lant Pritchett. Back received a full scholarship to pursue an MBA at Cambridge University's Judge School of Business. He dropped out after one term to launch Zoomcar in India. Back has had positions at McKinsey & Co, at Goldman Sachs, and in the General Counsel’s office at the Kauffman Foundation. He also served as the Director of Government Relations for The Hydrogen Expedition – an attempt to circumnavigate the globe in a hydrogen fuel cell powered boat to raise awareness about alternative fuels.
    [Show full text]
  • Biden All Set to Defeat Trump Special Features
    OPINION, P6 ECONOMY, P2 MARKETS, P11 EDITORIAL CAPTURING THE MARKET MAKING IT EASIER ECI must be prudent Gadkari is right Cut EV cost and forgo Sebi announces 'flexi about bureaucratic on its ‘polls during inefficiency, but babus profit initially, Gadkari cap fund',AMCs to pandemic’ talk thwarted by netas too tells automakers have more flexibility PUNE, SATURDAY, NOVEMBER 7, 2020 FOLLOW US ON TWITTER & FACEBOOK. APP AVAILABLE ON APP STORE & PLAYSTORE WWW.FINANCIALEXPRESS.COM VOL. XI NO. 242, 26 PAGES, `10.00PUBLISHEDFROM:AHMEDABAD,BENGALURU,CHANDIGARH, CHENNAI,HYDERABAD,KOCHI,KOLKATA,LUCKNOW,MUMBAI, NEWDELHI,PUNE READ TO LEAD SENSEX: 41,893.06 ▲ 552.90 NIFTY: 12,263.55 ▲ 143.25 NIKKEI 225: 24,325.23 ▲ 219.95 HANG SENG: 25,712.97 ▲ 17.05 `/$: 74.20 ▲ 0.19 `/€: 87.86 ▼ 0.38 BRENT: $39.86 ▼ $1.07 GOLD: `52,192 ▲ `879 IN THE NEWS BATTLEGROUND STATES LVB board meet today; may not take up Clix deal Biden all set to defeat Trump THE BOARD of the troubled Lakshmi Vilas Bank (LVB) is unlikely to take up the The Democratic Judge denies Trump campaign Clix deal at the Saturday candidate surges bid to halt Philadelphia count meeting which is primarily ahead in Georgia, being convened for the REUTERS wasfiledwiththefederalcourt purpose of approving the Pennsylvania November 6 in Philadelphia. second quarter results of “As stated during today’s the bank, reports fe Bureau A FEDERAL JUDGE denied an emergencyinjunctionhearing, in Chennai. ASSOCIATED PRESS emergency request from US in light of the parties’agree- Washington, November 6 President Donald Trump’s ment, plaintiff’s motion is Aurobindo Realty, campaignonThursdaytostop denied without prejudice,”US DEMOCRAT JOE BIDEN was ballot counting in Philadel- district judge Paul Diamond Essel Mining bag on the cusp of winning the phia so long as Republican said in a one-sentence order 1 coal block each presidency on Friday as he observerswere not present.
    [Show full text]