Greenberg Glusker client Shelly Sterling today announced that she has signed a binding contract for the sale of the Clippers by The Sterling Family Trust to Steve Ballmer at a price of $2 billion.  Shelly Sterling was acting under her authority as the sole trustee of The Sterling Family Trust which owns the Clippers.

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Cahill represented JPMorgan Chase Bank and Barclays Bank as administrative agents and J.P. Morgan Securities, Barclays Bank, Citigroup Global Markets, and RBS Securities as lead arrangers in connection with the $3,000,000,000 revolving credit facility for Kraft Foods Group, Inc. Proceeds were used for general corporate purposes.
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Cravath represented INEOS Group Holdings S.A. in connection with its €600 million and US$590 million 144A/Reg. S high‑yield senior debt offering, guaranteed by INEOS Luxembourg S.A., INEOS Holdings Limited and certain of their subsidiaries. INEOS is one of the world’s largest chemical companies and has highly integrated, world‑class chemical facilities and production technologies. The notes were listed on the Luxembourg Stock Exchange. The transaction closed on February 18, 2014.

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Edwards Wildman have advised GTS, on the completion of its sale to Deutsche Telekom, for a total consideration of €546 million. GTS are one of the top infrastructure-based telecommunications service providers in South East and Eastern Europe. They are currently owned by a consortium of international private equity firms, which includes Bessemer Venture Partners, Columbia Capital, HarbourVest Partners, Innova Capital, MC Partners and Oak Investment Partners.
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The purchase price includes the payment of approximately USD$79 million at closing, $33 million in deferred payments in September 2014, and on target earnout consideration of USD $21 million, with a minimum earnout consideration of USD $14 million and a maximum earnout consideration of USD$28 million.

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Ungaretti & Harris represented Pack Pharmaceuticals in the $100 million sale to ACETO Corporation, a global leader in the marketing, sales and distribution of products for human health, pharmaceutical ingredients and performance chemicals.

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Cahill represented Barclays and Credit Suisse as joint book-running managers in connection with the public offering of 41,499,689 shares of Common Stock of Activision Blizzard, Inc. (NASDAQ: ATVI), resulting in gross proceeds of $852,403,612. The selling stockholder, Vivendi SA, received all of the proceeds of the sale.
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Davis Polk is advising Tyson Foods, Inc. on its $6.8 billion proposal to acquire The Hillshire Brands Company. The proposal is subject to the termination of Hillshire’s merger agreement with Pinnacle Foods Inc.

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