The Los Angeles Dodgers filed for protection under Chapter 11 of the U.S. Bankruptcy Code in order to protect the franchise financially and provide a path that will enable the Club to consummate a media transaction and capitalize the team. Dodger owner Frank McCourt cited Major League Baseball Commissioner Bud Selig’s refusal to approve the Fox transaction as the cause for the Chapter 11 filing.
Tags: Los Angeles Monthly Archives: June 2011
Baker & McKenzie Advises Fortune REIT on its HKD3.8 Billion Term Loan and Revolving Credit Facilities
Baker & McKenzie recently advised ARA Asset Management (Fortune) Limited, as manager of Fortune Real Estate Investment Trust (“Fortune REIT”), on a five-year term loan and revolving credit facilities of up to an aggregate principal amount of HKD3.8 billion, comprising a HKD2,830 million term loan facility and a HKD970 million revolving credit facility granted to Fortune REIT. Part of the new facilities was used to refinance existing facilities of HKD3.1 billion due in October 2013, and the balance will be used for financing the corporate funding requirements of Fortune REIT, including any acquisition opportunities and other yield enhancing asset enhancement initiatives.
Tags: Baker & McKenzie LLP | Hong Kong 
Davis Polk Advises Abax Global Capital in Connection With a Going-Private Transaction Involving Harbin Electric
Davis Polk is advising Abax Global Capital in connection with a going-private transaction which will result in Nasdaq-listed Harbin Electric, Inc. being taken private by Tech Full Electric Company Limited, an acquisition vehicle that will be owned by the chairman and CEO of Harbin Electric, Mr. Tianfu Yang, certain other members of Harbin Electric’s management and Abax Global Capital.
Tags: Davis Polk & Wardwell | Hong Kong 
Squire Sanders Advising Lassonde Industries Inc. on US$390 Million Acquisition
Squire, Sanders & Dempsey is providing cross-practice counsel to Lassonde Industries Inc. regarding its US$390 million acquisition of Clement Pappas and Company, Inc. The transaction, which is expected to close in August, will create a major North American fruit juice and drink manufacturer.
Tags: Squire Patton Boggs 
White & Case Advises EQT on SEK21 Billion Securitas Exit: Largest Ever Exit of a Swedish Private Equity Held Portfolio Company
Global law firm White & Case LLP has advised EQT Funds (‘EQT’) on its SEK21 billion (approx GBP2 billion) sale of Securitas Direct AB to a consortium formed by Bain Capital and Hellman & Freidman.
Tags: White & Case LLP 
Ashurst Advises KOGAS on Investment in US$16 Billion Gladstone LNG Project
Ashurst has advised Korea Gas Corporation (“KOGAS”) on its acquisition of a stake in the US$16 billion Gladstone Santos LNG project (“GLNG”), which completed on 16 February 2011. KOGAS and Total have acquired a combined interest of 15% in GLNG. Ashurst also advised KOGAS on the associated 20-year LNG off-take contract, which provides for the sale by GLNG of 3.5 million tonnes per annum (mtpa) of LNG to KOGAS.
Tags: Ashurst 
Shearman & Sterling Advises on Cricket Communications’ $400 Million Notes Offering
Shearman & Sterling represented the initial purchasers, represented by Goldman, Sachs & Co., Morgan Stanley & Co. Incorporated and Deutsche Bank Securities Inc., in connection with their purchase of $400 million aggregate principal amount of Cricket Communications, Inc.’s (“Cricket”) 7.75% Senior Notes due 2020. The notes are a further issuance of, and will be treated as a single class with, the already outstanding $1,200 million aggregate principal amount of 7.75% Senior Notes that Cricket issued in November 2010. Headquartered in San Diego, California, Cricket is a leading wireless communications carrier that offers unlimited nationwide wireless services.
Tags: Shearman & Sterling LLP 
Kirkland & Ellis Represents Bain Capital and Hellman & Friedman in Acquisition of Securitas Direct
Kirkland & Ellis International LLP represented global private equity firms Bain Capital and Hellman & Friedman LLC, which today signed definitive documentation to acquire Securitas Direct, the market leading provider of monitored alarms to consumers and small businesses in Europe, from Swedish private equity firm EQT.
Tags: Kirkland & Ellis LLP 
Multi-Office Greenberg Traurig Team Represents APR Energy and Certain of its Shareholders in its Acquisition by Horizon Acquisition Company plc
In a powerful display of its multi-national, multi-disciplinary reach, international law firm Greenberg Traurig and its London office, Greenberg Traurig Maher, advised APR Energy Cayman Limited (“APR”) and its management shareholders in the sale of APR to Horizon Acquisition Company plc (Horizon). APR is one of the world’s largest providers of temporary power generation solutions.
Tags: Greenberg Traurig LLP 
SNR Denton and Standing Rock Telecommunications Win Federal Funding Support for Wireless Network
SNR Denton announced today that the Federal Communications Commission (FCC) designated Standing Rock Telecommunications, Inc. (Standing Rock), a tribally-owned wireless carrier, as an eligible telecommunications carrier (ETC), effective immediately. In so doing, the FCC expanded the existing ETC designation conferred by the Wireline Competition Bureau (WCB) to include making Standing Rock eligible to receive federal universal service support (USF) so that it can bring wireless service to the sparsely populated Standing Rock Sioux Tribe Reservation, which straddles the border of North Dakota and South Dakota.
Tags: Dentons 