Shearman & Sterling advised CVS Caremark Corporation as borrower in connection with a $1.25 billion senior unsecured revolving credit facility arranged by The Bank of New York Mellon, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Wells Fargo Securities, LLC.
Tags: Shearman & Sterling LLPDavis Polk advised Alexander Forbes Group Holdings Limited in connection with the ZAR 3.2 billion (US$310 million) initial offering of its ordinary shares. The offering consisted of 431,940,542 shares at a price to investors of ZAR 7.50. In addition, the joint bookrunners have an over-allotment option with respect to 64,791,081 ordinary shares of Alexander Forbes.
Cahill represented Credit Suisse as administrative agent and Credit Suisse, Citigroup, Macquarie Capital, Deutsche Bank, BofA Merrill Lynch, and J.P. Morgan as lead arrangers in connection with the approximately $5.4 billion in amended and restated credit facilities for Caesars Entertainment Operating Company, Inc.
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A Hogan Lovells cross-border, cross-practice team made up of lawyers from Denver, Houston, Washington, D.C., and Tokyo, advised JX Nippon Oil & Gas Exploration Corporation (“JX Nippon”) in its formation of a 50/50 joint venture company (“ the Company”) through its wholly owned subsidiary JX Nippon Oil Exploration (EOR) Limited1; and Petra Nova Holdings LLC, a wholly owned subsidiary of NRG Energy, Inc. (“NRG”).
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On July 24, Willkie client Ardian, a leading independent private investment company, announced that it has agreed to acquire ADA Cosmetics International GmbH from the Carlyle Group. ADA Cosmetics is Europe’s leading manufacturer of high-quality hotel cosmetics.
This is the eighth investment from Ardian’s Expansion Fund III, which closed in March 2014 at €500 million. The management of ADA Cosmetics has again taken a minority stake in the company as part of the transaction, which is subject to approval by the antitrust authorities. Working with Ardian, the management intends to grow the company across Europe, Asia and the Middle East.
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Global law firm White & Case LLP has advised a syndicate of banks led by ING Bank N.V. and including Banca IMI S.p.A., BNP Paribas, Citigroup Global Markets Limited, Crédit Agricole Corporate and Investment Bank and UniCredit Bank AG, as Arrangers and Bookrunner Mandated Lead Arrangers, on a €1 billion revolving credit facility agreement granted to Prysmian, a manufacturer of energy and telecommunication cables and systems.
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Herbert Smith Freehills has advised QIC on the sale of one of its flagship commercial office buildings in Sydney for A$555 million.
In what is widely tipped to be the largest Australian commercial office deal of the year, the sale attracted extraordinary interest both nationally and internationally, with more than 40 qualified bidders being granted access to the Herbert Smith Freehills Data Room. The sale is said to reflect a purchasing cap rate of 5.5%, the first such sale in Australia below 6% for many years.
Tags: Herbert Smith Freehills Kramer LLPShearman & Sterling is advising Zillow, Inc. on its acquisition of Trulia, Inc. for $3.5 billion in a stock-for-stock transaction. The Boards of Directors of both companies have approved the transaction, which is expected to close in 2015.
Tags: Shearman & Sterling LLPThe Firm recently represented the initial purchasers, led by Morgan Stanley, Goldman, Sachs & Co., and Credit Suisse, in connection with Micron Technology, Inc.’s offering of $1.15 billion aggregate principal amount of 5.50% Senior Notes due 2025. The notes were offered in reliance on Rule 144A and Regulation S under the Securities Act of 1933, as amended.
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