Simpson Thacher represented Goldman Sachs as financial advisor to Micron Technology Inc. in connection with its execution of a sponsor agreement with the reorganization trustees of Elpida Memory Inc. of Japan, whereby Micron agreed to acquire Elpida, including Elpida’s 65% stake in Rexchip Electronics, for total consideration of ¥200 billion ($2.5 billion), consisting of ¥60 billion in cash consideration for 100% of Elpida’s equity and a series of installment payments totaling ¥140 billion to be made by Elpida to satisfy the reorganization claims of Elpida’s creditors. Micron also entered into a separate agreement with Powerchip Technology Corporation to acquire its 24% stake in Rexchip Electronics for approximately NT$10 billion ($334 million).

More >>

On June 27, client Mitsui Sumitomo Insurance Company Limited (MSI) acquired 26 percent of India-based Max New York Life Insurance Company Limited for Rs 27.3 billion (approximately U.S. $475 million). MSI acquired New York Life’s entire stake in the life insurer, which is majority-owned by Max India Limited, a company listed on the Bombay Stock Exchange.

More >>

Shearman & Sterling is representing Mizuho Corporate Bank, Ltd. in connection with its definitive agreement with WestLB AG to acquire its Brazilian corporate banking subsidiary, Banco WestLB do Brasil. The terms of the transaction were not disclosed.

More >>

Shearman & Sterling advised Aurora Solar Corporation (a joint venture comprised of, among others, Osaka Gas Co., Ltd. and Mitsubishi Corporation) as purchaser of nine photovoltaic (pv) generating facilities in Ontario, Canada. The sponsors were advised by Mizuho Corporate Bank, Ltd. as financial advisor and Stikeman Elliott as Canadian counsel.

More >>

More >>

More >>

More >>

More >>

More >>

More >>