Simpson Thacher is representing Microsoft Corporation in connection with its $300 million investment in a new entity which will own the NOOK and college businesses of Barnes & Noble, Inc.  Microsoft will receive convertible preferred stock equivalent to an approximately 17.6% equity stake in the new company, which values the business at $1.7 billion.  Barnes & Noble will own approximately 82.4% of the new entity, which will have an ongoing relationship with Barnes & Noble’s retail stores. Completion of the transaction is subject to satisfaction of customary conditions to closing, including completion of the separation of the NOOK and college businesses into the new entity.

Holland & Knight today announced that Stuart M. Saft, a prolific real estate attorney with over four decades of industry experience, has joined the law firm as partner and co-chair of its New York Real Estate Practice Group. He comes to Holland & Knight from Dewey & LeBoeuf, where he was partner and chair of Dewey’s Global Real Estate Practice. Mr. Saft will utilize his unparalleled experience and strong relationships to expand Holland & Knight’s real estate practice in a range of activities including major acquisitions, deal structuring, financing, leasing, development, condominium conversions and workouts.