Simpson Thacher Represents Walter Investment Management in its $1.065B Acquisition of Green Tree

Walter Investment Management Corp. announced  that it has entered into a definitive agreement to purchase GTCS Holdings LLC (“Green Tree”) in a transaction valued at $1.065 billion.  Walter Investment will issue approximately 1.8 million shares of common stock to the seller, assume approximately $20 million of existing Green Tree debt, and issue $765 million of new debt which has been fully committed to by Credit Suisse and The Royal Bank of Scotland plc and which, together with cash, will be used to acquire the equity of Green Tree, repay existing Green Tree indebtedness and pay fees and expenses of the transaction.  Green Tree, based in St. Paul, Minnesota, is a leading independent, fee-based business services company which provides high-touch, third-party servicing of credit-sensitive consumer loans.

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Simpson Thacher Represents Apax Partners in Announced $763M Acquisition of Trader Corporation’s Auto Assets

Simpson Thacher is representing Apax Partners in connection with its announced $763 million (C$745 million) acquisition of Trader Corporation from Yellow Media Inc.  Trader Corporation’s businesses include AutoTrader.ca, Canada’s leading online automotive classified marketplace, as well as numerous auto-related print publications. Trader Corporation also holds an approximately 30% interest in Dealer Dot Com, Inc., the leading digital auto dealer marketing service provider in the United States and Canada.  The Firm is also representing Apax on the related financing.

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Davis Polk – Host Hotels & Resorts $313.5 Million Hotel Acquisition

Davis Polk advised Host Hotels & Resorts, Inc. in connection with its acquisition of the 775-room New York Helmsley Hotel from The Leona M. and Harry B. Helmsley Charitable Trust and Harley of New York Associates for a purchase price of $313.5 million. The New York Helmsley Hotel will undergo significant property improvements, including complete guestroom and guest bath renovations, as well as upgrades to the meeting space. The Westin brand will be added to the hotel upon completion of the improvements, which is projected to be early to mid-2012.

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CMS Cameron McKenna Advises Advent International on the Acquisition of Provimi Pet Food

CMS has advised Advent International, the global private equity firm and a longstanding Key Account of CMS, across seven countries on the agreement to acquire Provimi Pet Food (PPF), the third largest producer of private label wet and dry pet food in Europe, from the Provimi Group for an enterprise value of €188 million. The transaction is expected to complete following European Union merger clearance as well as the completion of certain other works council processes.

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Mayer Brown Advises Elara Capital on Debut London Listing for a Vietnamese Company

Leading global law firm Mayer Brown advised Elara Capital Plc as sole lead manager and bookrunner in relation to the listing by Hoang Anh Gia Lai Joint Stock Company (HAGL), one of the largest private companies in Vietnam, on the Official List of the UK Listing Authority and to trading on the London Stock Exchange- the first overseas listing for a Vietnamese company.

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Willkie Advises Teva on Consumer Health Care Joint Venture with Procter & Gamble

Willkie client Teva Pharmaceutical Industries Ltd. and consumer products giant The Procter & Gamble Company announced a joint venture to combine their over-the-counter consumer health care businesses in all markets outside of North America. This new business model combines Teva’s broad geographic reach, its experience in R&D, regulatory and manufacturing and its extensive portfolio of products with P&G’s strong brand-building, consumer-led innovation and go-to-market capabilities. The markets included in the joint venture generated 2010 sales of more than $1 billion. The joint venture will seek opportunities to develop prescription-to-OTC switches, which will be marketed worldwide, including in North America. Teva will also be responsible for global manufacturing, supplying both the joint venture and P&G’s existing North American business.

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Paul Hastings Advises Tan-Eu Capital in Closing of US$400 Million Real Estate Private Equity Vehicle

Paul, Hastings, Janofsky & Walker, a leading global law firm, announced today that it has advised Tan-Eu Capital (“Tan-Eu Capital”), a company which manages funds and joint ventures in partnership with the most prestigious and reputable local partners in Asia, as co-sponsor in the closing of Sotan China Real Estate I, LP (the “Partnership”), a real estate private equity vehicle. Tan-Eu Capital co-sponsored the Partnership with Shui On Construction and Materials (“SOCAM”). 

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Davis Polk – Warner Chilcott $3.25 Billion Refinancing

Davis Polk advised Warner Chilcott plc on the refinancing of its existing credit facility with a new $3.25 billion credit facility, comprised of $3 billion senior-secured term loan A and B facilities and a $250 million revolving facility. In connection with the refinancing, Warner Chilcott obtained improved pricing, including reductions in interest rate margin and the LIBOR floor, extended maturities, and made certain other changes. As under the prior credit facility, the loans and other obligations under the credit facility are guaranteed and secured by the majority of Warner Chilcott’s subsidiaries located across North America and Europe.

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