Herbert Smith Freehills advises banks on Etisalat financing for Maroc Telecom acquisition

Herbert Smith Freehills has advised a group of seventeen international, regional and local banks on a EUR 3.15 billion multi-currency club deal for Emirates Telecommunications Corporation (“Etisalat”).  The financing has been raised using a DIFC SPV as borrower whose obligations are guaranteed by Etisalat, to fund the acquisition of Vivendi’s 53% stake in Maroc Telecom.

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Tags:  Herbert Smith Freehills LLP

XL Group to Sell Life Reinsurance Subsidiary

Skadden is representing XL Group plc in connection with the $570 million sale of XL Insurance (Bermuda) Ltd.’s wholly owned subsidiary XL Life Reinsurance Ltd. to GreyCastle Holdings Ltd., announced May 1.

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Paul Hastings Represents ISG Holdings, Inc. in its Sale to Xerox

Paul Hastings LLP, a leading global law firm, announced today that it is representing leading healthcare technology company ISG Holdings, Inc., a portfolio company of private equity firm Beecken Petty O’Keefe & Company and venture capital firm SV Life Sciences, in its $225 million sale to Xerox (NYSE: XRX), a global leader in business process and document management.

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Olshan Client 601W Cos Acquires Second Largest Office Complex in Detroit

Crain’s Detroit Business reported that New York-based investor 601W Companies closed on the $177.5 million purchase of the Southfield Town Center, the second largest office complex in metro Detroit.  The company plans to spend approximately up to $50 million on renovations at the 2.2 million-square-foot office complex which consists of five towers.  Warren Gleicher, Martin Cooper and Shirlee Gordon represented 601W Companies as co-counsel in charge of overall deal structure, the tenants-in common agreement between the owners and the  income tax consequences thereof.
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Tags:  Olshan Frome Wolosky LLP

Hogan Lovells Advises American Homes 4 Rent in US$190 Million Offering of Preferred Shares

Hogan Lovells today announces that a Corporate and Tax team advised American Homes 4 Rent, the nation’s largest publicly traded real estate investment trust (REIT) focusing on single-family rental homes, in its underwritten public offering of 5.50% Series C Participating Preferred Shares. The offering, and a concurrent private placement, raised total gross proceeds of approximately US$190 million, before deducting underwriting discounts and estimated offering expenses. More >>

Tags:  Hogan Lovells