stek

recent developments


Stek represents Krijger Molenaars in Dutch cartel procedure

2010-12
On 16 December 2010 the Dutch Competition Authority (NMa) has imposed fines, totalling EUR 81.6 million, on flour producers in the Netherlands, Belgium and Germany for violations of the cartel prohibition. According to the NMa the flour producers in different group compositions have shared the market among themselves, or have concluded agreements in order to restrict competition. Please click here for the press release of the NMa. Dutch producer Krijger Molenaars was fined EUR 71000 for an incidental and single breach of the cartel prohibition. The NMa concluded that Krijger Molenaars was not involved in a large-scale and long-standing cartel in the flour producing industry.

Ruben Elkerbout and Jan Erik Janssen act for Krijger Molenaars in this procedure.

 

Stek advises Simpel in sale to T-Mobile

2010-12
Simpel, the Dutch virtual mobile network operator that offers sim-only subscriptions through its website www.simpel.nl has been acquired by T-Mobile. Click here to view the press release (in Dutch).

Jasper Stek and Dierik Cras acted as counsel to the seller.

 

Stek successful for Liander in civil law procedure regarding damage claims

2010-12
Stek again successfully represented Liander N.V. ('Liander') in a civil law procedure before the Court of Arnhem in a dispute regarding damage claims and the applicability and scope of the sector standard clause for the limitation of liability of the grid manager. These claims were submitted pursuant to an incident in which a connection was temporarily subjected to an excessively high voltage level. Click here for the judgement (in Dutch). 

Liander (www.liander.nl) was represented by Martha Brinkman.

 

Stek in top ten M&A counsel

2010-12
Stek is the only boutique firm that made the top ten list of legal M&A advisers. Stek acted on M&A deals with a value of EUR 517 million in the first 3 quarters of 2010. Please click here for the full top ten (in Dutch only).

 

Stek successful for Stedin in civil law procedure regarding (partial) termination of a binding opinion

2010-11
Stek successfully represented Stedin Netbeheer B.V. (‘Stedin’) in a civil law procedure before the district Court of The Hague in a request for the partial annulment of a binding opinion by the Disputes Committee Energy and Water (Geschillencommissie Energie en Water). In the binding opinion it was wrongfully concluded that in calculating the tariffs for the transport of gas of the network operator no volumes revised for the calorific value of the gas were to be used. The court ruled that the binding opinion could not be maintained regarding fairness or natural justice. Click here for the judgment (in Dutch).

Stedin (www.stedin.nl) was represented by Ruben Elkerbout.

 

Stek represents ABN AMRO Bank in acquisition finance Fitness First (Benelux) by HealthCity

2010-11
ABN AMRO Bank N.V. has financed the acquisition of the Benelux activities of Fitness First Limited by HealthCity International. As a result of the acquisition, HealthCity expands its business to over 200 fitness clubs with more than 400,000 members in the Netherlands, Belgium, Germany and Luxembourg.

Frans Haak and Wieteke Killestijn represented ABN AMRO Bank in this transaction.

 

Stek represents ING Bank and Deutsche Bank Nederland in financing JVH gaming

2010-11
ING Bank N.V. and Deutsche Bank Nederland N.V. have financed the JVH gaming group. The core activity of JVH gaming consists of marketing a broad variety of games of chance as well as operating these games (via inter alia the labels Jack’s Casino and Flash Casino) in own casinos and amusement centers.

Frans Haak and Wieteke Killestijn represented ING Bank and Deutsche Bank Nederland in this transaction.

 

Stek advises sellers in Wittur acquisition

2010-10
Private equity firm Triton has acquired German manufacturer of lifts and lift components Wittur (www.wittur.com) from Cerberus en Goldman Sachs. Wittur has a Dutch subsidiary in Almere (www.wittur.nl).

Jasper Stek, Wieteke Killestijn and Maarten van der Graaf acted as local counsel to the sellers; lead counsel was Jones Day (Munich office).

 

Stek acts for Zamin Ferrous in sale of Bahia Minerals B.V.

2010-09
Mining and trading company Zamin Ferrous, through its subsidiary Ardila Investments N.V., sold 50% of its interest in Bahia Minerals B.V. to London-listed Kazakh mining company, Eurasian Natural Resources Corporation PLC (ENRC) for a cash sum of US$670 million and the assumption of debt of US$65 million. 

Jeroen Timmermans assisted Zamin Ferrous on the Netherlands and Netherlands Antilles law aspects of the transaction. Lead counsel for Zamin Ferrous was Slaughter & May.

 

Stek represents Deutsche Bank Nederland in acquisition finance Gerritse IJzerwaren by H2

2010-09
Deutsche Bank Nederland N.V. and IFN Finance B.V. have financed the acquisition of Gerritse IJzerwaren by H2 Equity Partners. Gerritse IJzerwaren is a chain of ironmongery & hardware wholesalers, with 23 stores in the western and central Netherlands.

Frans Haak and Annejet Knoop represented Deutsche Bank Nederland in this transaction.

 

Stek succesful for Liander in civil law procedure regarding damage claims

2010-08
Stek succesfully represented Liander N.V. ('Liander') in a civil law procedure before the Court of Arnhem in a dispute regarding damage claims and relating to the enforceability of the sector standard clause for the limitation of liability of the grid manager. These claims were submitted pursuant to an incident in which a connection was temporarily subjected to an excessively high voltage level. Click here for the judgement (in Dutch).

Liander (www.liander.nl) was represented by Martha Brinkman.

 

Stek acts for Varova on participation in GSUS

2010-07
Investment company Varova (www.varova.nl) acquired an interest in GSUS (www.g-sus.com). G-SUS is a fashion label established in 1993, with interests in various countries and its own Heavens Playground stores. Please click here for the press release (in Dutch).

Jeroen Timmermans and Maarten van der Graaf assisted Varova.

 

Stek assists Dutch electricity grid operators

2010-06
Stek has assisted Netbeheer Nederland and Endinet in their high-profile litigation challenging the tariff regulation by the Dutch Competition Authority for the Dutch regional grid operators in the period 2008-2010. By judgment of 29 June 2010 the Trade and Industry Appeals Tribunal has partly ruled in favour of the electricity companies. Click here for the judgment (in Dutch).

Netbeheer Nederland (www.netbeheernederland.nl) and Endinet (www.endinet.nl) were represented by Jan Erik Janssen and Ruben Elkerbout.

 

Stek represents ABN AMRO, ING Bank, ING Lease and NIBC in refinancing Harting-Bank and EmCart Group

2010-06
ABN AMRO Bank N.V., ING Bank N.V., ING Lease (Nederland) B.V. and NIBC Bank N.V. have refinanced holding company Wielco B.V. and its group companies within the Harting-Bank and EmCart group. The Harting-Bank and EmCart group has grown to the largest independent supplier of health care and rehabilitation devices in the Netherlands.

Frans Haak and Maarten van der Graaf assisted ABN AMRO, ING Bank, ING Lease and NIBC in this transaction.

 

Stek acts for SMSC on STS acquisition

2010-06
SMSC (NASDAQ: SMSC), a leading US semiconductor company , has acquired STS, a designer of plug-and-play wireless solutions for consumer audio streaming applications, including headphones, LED TVs, PCs, gaming and automotive entertainment. Customers include many of the industry's leading consumer and PC brands. Please click here for SMSC’s press release on the deal.
Maarten van der Graaf and Wieteke Killestijn acted for SMSC in the transaction.

 

Stek successful for Liander in appeal regarding the interpretation of the Dutch Electricity Tariff Code

2010-05
Stek succesfully represented Liander N.V. ('Liander') in appeal before the Court of Appeal in Arnhem in a dispute regarding the interpretation of article 3.7.6 and article 3.7.7 of the Dutch Electricity Tariff Code, which regulate the amendment of contracted transmission capacity. Click here for the judgement (in Dutch).

Liander (www.liander.nl) was represented by Martha Brinkman and Jan Erik Janssen.

 

Stek represents Stedin in litigation on supply model and attachment by garnishment

2010-04
Stek has represented Stedin Netbeheer in a preliminary relief proceeding initiated by Greenchoice. Het proceeding related to the requirements of the supply model (leveranciersmodel) and the release of attached monies. Click here for the judgment (in Dutch).

Stedin (www.stedin.net) was represented by Jan Erik Janssen and Martha Brinkman.

 

Stek represents Deutsche Bank Nederland in acquistion finance Agribio Group by H2

2010-03
Deutsche Bank Nederland N.V. has financed the acquisition of the Agribio Group by H2. The Agribio Group is a leading international flower and potato breeder and formerly owned by the Japanese listed company Kirin. The Agribio Group owns leading breeders such as Fides, Barberet & Blanc and Germicopa.

Frans Haak represented Deutsche Bank Nederland in this transaction.

 

Stek assists Netbeheer Nederland in litigation on closed circuit electricity networks

2010-03
Stek has represented the association of energy grid operators in the Netherlands, in an appeal procedure on closed circuit networks. The procedure was initiated by VEMW, the association of large energy and water users, before the Dutch Trade and Industry Appeals Tribunal (CBb) against the decision of the Dutch Competition Authority establishing the obligations of public electricity grid operators with respect to closed circuit electricity networks. By judgment of 10 March 2010 the appeal of VEMW was dismissed. Click here for the judgment (in Dutch).

Netbeheer Nederland (www.netbeheernederland.nl) was represented by Jan Erik Janssen.

 

Stek represents Endinet in litigation on quality control energy grids

2010-02
In August and October 2009 the Dutch Competition Authority (NMa) imposed orders sanctioned by periodic penalty payments on the three grid operators operating under the name Endinet in relation to quality control procedures. Following further audits the NMa concluded that Endinet has succeeded in implementing these orders. Click here for the press release of the NMa (in Dutch).

Endinet (www.endinet.nl) was represented by Jan Erik Janssen and Ruben Elkerbout.

 

Stek assistst Gas Transport Services in litigation on balancing regime

2010-02
Stek has represented Gas Transport Services (GTS), the national gas transmission operator, in an appeal procedure on gas balancing in the Netherlands. The procedure was initiated by GasTerra before the Dutch Trade and Industry Appeals Tribunal (CBb) against the decision of the Dutch Competition Authority establishing the balancing regime. By judgment of 11 February 2010 the appeal of GasTerra was dismissed. Click here for the judgment (in Dutch).

GTS (www.gastransportservices.nl) was represented by Jan Erik Janssen.

 

Stek represents New HBU in acquisition finance Saval and Knowsley

2010-02
New HBU II N.V. has financed the acquisition of former Imtech companies Saval and Knowsley by Bencis Capital, a Dutch private equity firm. Saval (presence in the Netherlands and Belgium) and Knowsley (presence in the United Kingdom) are active in the field of extinguishing products and extinguishing systems. New HBU is part of the ABN AMRO Bank N.V. banking business which was sold to Deutsche Bank.

Frans Haak and Maarten van der Graaf represented New HBU in this transaction.

 

Stek acts for Bancroft Private Equity

2010-01
Bancroft Private Equity is investing an undisclosed amount in Kayalar Kimya, a leading Turkish coatings group. The investment will be made through the private equity firm's third fund, Bancroft 3, which is targeting total commitments of EUR 250 million for investments in Central and Eastern Europe as well as Central Asia and the Caucasus.

Maarten van der Graaf advises Bancroft Private Equity on the transaction.