Paul, Weiss – Office Depot and OfficeMax Agree to $1.2 Billion Merger

Paul, Weiss clients PJ Solomon and Morgan Stanley acted as joint financial advisers to Office Depot in its agreement to merge with OfficeMax for $1.2 billion. Terms of the deal call for Boca Raton, Florida-based Office Depot to issue 2.69 shares for each share of OfficeMax, valuing the smaller company at $13.50 per share. Naperville, Illinois-based Officemax will have the ability to pay dividends of up to $131 million, or $1.50 per share, before closing.

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Tags:  Paul, Weiss, Rifkind, Wharton & Garrison LLP | New York

Simpson Thacher Represents Best Buy in Announced Agreement by Citigroup to Purchase Best Buy Card Portfolio

The Firm is representing Best Buy Co., Inc. (NYSE: BBY) in connection with the announced agreement by Citigroup to purchase from Capital One Financial Corporation (NYSE: COF) and issue and manage for Best Buy the $7 billion portfolio of Best Buy-branded private label and co-branded credit cards in the United States. The transaction is subject to customary conditions.

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Tags:  Simpson Thacher & Bartlett LLP | New York

Simpson Thacher Represents Office Depot in Announced Merger of Equals with OfficeMax

The Firm is representing Office Depot, Inc. (NYSE: ODP) in connection with its announced merger with OfficeMax Incorporated (NYSE: OMX). Under the terms of the merger agreement, the companies will be combined in an all-stock merger of equals transaction. The transaction is subject to stockholder approval from both companies, the receipt of regulatory approvals and other customary closing conditions, and is expected to close by the end of calendar year 2013.

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Tags:  Simpson Thacher & Bartlett LLP | New York

Morgan Lewis Advises InterEnergy on $100M Equity Investment from IFC and the IFC ALAC Fund to Help Grow and Develop Cleaner Energy Sources in the Caribbean and Latin America

International Finance Corporation (IFC), a member of the World Bank Group, and the IFC African, Latin American and Caribbean Fund (IFC ALAC Fund), today announced a joint $100 million equity investment to help Cayman-based InterEnergy Holdings (IEH), owner and operator of power generation and distribution assets in Latin America and the Caribbean, to develop cleaner and more efficient energy sources in the Caribbean and expand operations in Latin America. IFC and the IFC ALAC Fund will each provide $50 million in equity to IEH.

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Tags:  Morgan Lewis & Bockius LLP | New York