Neusoft Medical Systems Co., Ltd. signed a term sheet to acquire 51% stake in Philips and Neusoft Medical System Co., Ltd. from Koninklijke Philips Electronics NV (ENXTAM:PHIA) on February 5, 2013. Upon the completion of the proposed transaction, all intellectual property rights of Philips and Neusoft Medical System will be shared by both Neusoft and Philips. After the completion of the proposed transaction, Neusoft Medical will become the holding company of the original ... joint venture and its operations will be maintained. In addition, a team of approximately 100 to 150 Computed Tomography (CT) system and component engineers and supporting staff will transfer from the joint venture to Philips. The signing of the definitive agreements and subsequent closing is estimated to take place before the end of 2013.
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Funai Electric Co. Ltd. (TSE:6839) signed an agreement to acquire lifestyle entertainment business from Koninklijke Philips Electronics NV (ENXTAM:PHIA) for €150 million on January 29, 2013. The consideration comprises of €150 million paid in cash and a brand license fee. The acquisition includes Koninklijke Philips Electronics's audio, video, multimedia and accessories business. The remote control activities, which are predominantly business-to-business, are excluded ... from the transaction. The transaction is subject to customary conditions, including regulatory filings and works council procedures and it is expected to close in the second half of 2013 and the video business will transfer in 2017, related to existing intellectual property licensing arrangements. Gaby Smeenk of De Brauw Blackstone Westbroek N.V. and Anderson Mori & Tomotsune acted as the legal advisors to Koninklijke Philips while Credit Suisse and Deloitte acted as the financial advisors to Koninklijke Philips. Jun He Law Offices in China acted as the legal advisor to Koninklijke Philips, Neil Hyman of Slaughter & May acted as the legal advisor to Philips, Zaballa Carchio Abogados in Argentina acted as the legal advisor to Philips. Stibbe acted as the legal advisor while Nomura acted as financial advisor to Funai. PriceWaterhouseCoopers provided due diligence and post-merger integration services to Funai Electric.
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Biocartis SA announced that it has raised €34.50 million in series D round of equity funding on December 12, 2012. The transaction was led by returning investor PMV-TINA a fund managed by Participatiemaatschappij Vlaanderen NV. The transaction also saw participation from returning investors Debiopharm Group, Johnson & Johnson Development Corporation, Valiance Capital S.A., New Rhein Healthcare LLC, Korys Koninklijke Philips Electronics NV, Korys, Paul Janssen, Luc Verelst, ... Benaruca. Pursuant to the transaction, Roald Borre of Participatiemaatschappij Vlaanderen NV will join the company's board of directors.
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