On December 19, 2013, The Jones Group Inc. and Sycamore Partners announced that they have entered into a definitive agreement pursuant to which affiliates of Sycamore Partners will acquire The Jones Group for $15.00 per share in cash, or a total of approximately US$1.2 billion. The transaction is valued at approximately US$2.2 billion, including net debt. Cravath represented The Jones Group in connection with this transaction. Upon completion of the transaction, which is expected to close in the second quarter of 2014, The Jones Group will become a privately held company.

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Davis Polk advised J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated as joint book-running managers on an SEC-registered debt offering by Moody’s Corporation of $450 million aggregate principal amount of 2.75% senior notes due 2019 and $300 million aggregate principal amount of 5.25% senior notes due 2044.

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Allen & Overy has advised BNP Paribas, Citigroup, Deutsche Bank, The Royal Bank of Scotland and Standard Chartered Bank, as joint lead managers and bookrunners, on the issuance of USD1.5 billion and EUR525 million bonds by ONGC Videsh Limited (OVL), which were guaranteed by OVL’s parent Oil and Natural Gas Corporation Limited (ONGC). The bonds were issued under Regulation S of the U.S. Securities Act of 1933, as amended.

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Global law firm Morgan Lewis today announced that it has advised London-based Blue Water Energy (BWE), a leading energy focused private equity firm, in connection with their strategic investment in Dubai-based Unique Maritime Group (UMG).

BWE was founded in 2011 and closed its Fund I in 2013 with US$861 million in commitments. Fund I’s investment strategy is focused exclusively on the energy industry with core subsector focus areas including oilfield services, manufacturing, storage and logistics, and reserve development. UMG is one of the world’s leading integrated turnkey subsea and offshore solution providers, with local presence in the Middle East, U.S., UK, South Africa, Nigeria, India and Singapore, and employs over 500 people worldwide.

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Shearman & Sterling represented Citigroup Global Markets Limited, Credit Suisse Securities (Europe) Limited, HSBC Bank plc, ING Bank N.V., London Branch and The Royal Bank of Scotland plc on the offering by Care UK Health & Social Care plc (the “Issuer”) of £325 million aggregate principal amount of its Senior Secured First Lien Floating Rate Notes due 2019 and £75 million aggregate principal amount of its Second Lien Floating Rate Notes due 2020.

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The Firm is representing Rockwood Holdings, Inc. in connection with its merger with Albemarle Corporation.  In the merger, each share of Rockwood common stock will be exchanged for $50.65 in cash and 0.4803 of a share of Albemarle common stock, valuing the transaction at approximately $6.2 billion. Upon closing, Albemarle shareholders will own approximately 70% of the combined company and Rockwood shareholders will own approximately 30%. The transaction is subject to shareholder and regulatory approval and other customary closing conditions and is expected to close in the first quarter of 2015.

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Stibbe advises Mylan Inc., the pharmaceuticals company listed on the NASDAQ with a market cap of approximately $19 billion, on the inversion acquisition of Abbott’s non-U.S. developed markets specialty and branded generics business.

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Global law firm White & Case LLP has advised joint bookrunners J.P. Morgan, Deutsche Bank, Barclays, BNP Paribas, HSBC and Société Générale on the refinancing of Fives existing senior and mezzanine debt through a high yield bond offering of an aggregate principal amount of €580 million.

The France-headquartered industrial engineering group’s offering is split into two tranches – €380 million 4.5 percent senior secured notes due 2021 and €200 million senior secured floating rate notes due 2020. As part of the transaction, Fives also entered into a new €90 million super senior revolving credit facility.
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Dechert LLP advised Pemberton Asset Management Holdings Limited (“Pemberton”) on a strategic relationship with Legal & General. The deal sees the creation of a new Direct Lending platform for institutional investors, through which Pemberton will provide much-needed financing to mid-market companies in the UK and Europe. Legal and General has made a 40% equity investment in Pemberton and an initial commitment to invest €250 million in Direct Lending through the Pemberton platform, with further commitments intended in the future. The Pemberton platform is designed to appeal to major insurers and other institutions who wish to offer funding to mid-market companies. It allows those companies to access institutional funding at a time when bank financing is in decline. The transaction was led by Financial Services partner Gus Black.

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