Allen & Overy advises on USD5.5 billion STAR Rafineri – Turkey’s largest ever project financing

Monday, June 2, 2014

Allen & Overy said today the USD5.5 billion STAR Rafineri underlined growing demand from lenders to participate in Turkish infrastructure and energy financings. Please enter ByLine.

The deal was not only significant because of its size – Turkey’s largest ever project financing – but also for the number of financial institutions and export credit agencies involved. Allen & Overy advised CESCE, Export Development Canada, JBIC, K-SURE, NEXI, SACE, US Ex-Im Bank and 16 commercial banks in one of the most complex multi-source financings ever to be brought to signing in Turkey.

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Tags:  Allen & Overy LLP

Covington Advises Steve Ballmer on Clippers Purchase

Monday, June 2, 2014

Covington & Burling advised Steve Ballmer on his agreement to purchase the Los Angeles Clippers from The Sterling Family Trust for $2 billion.

“I will be honored to have my name submitted to the NBA board of governors for approval as the next owner of the Los Angeles Clippers. I love basketball,” Ballmer said in a statement. “And I intend to do everything in my power to ensure that the Clippers continue to win – and win big – in Los Angeles.”

The Covington team was led by Doug Gibson, Scott Roades and Peter Zern, and included Rob Heller and Jeff White (tax), Mike Francese (benefits), Ben Block (litigation), Don Elliott (environmental) and Doris Blazek-White (trusts and estates).

www.cov.com

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Tags:  Covington & Burling LLP | Los Angeles

Los Angeles Clippers Sold For $2 Billion

Monday, June 2, 2014

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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INEOS Group Holdings S.A.’s High-Yield Senior Debt Offering

Monday, June 2, 2014

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 Advises the Shareholders of GTS on Its Sale to Deutsche Telekom for a Total Consideration of €546 Million

Monday, June 2, 2014

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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Eversheds advises Aimia on Canadian expansion deal

Monday, June 2, 2014

Law firm Eversheds has advised the shareholders of Aimia Foods (Holdings) Limited (“Aimia”) on the sale of the entire share capital of Aimia to Cott Ventures Limited, a subsidiary of Cott Corporation .

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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Tags:  Eversheds Sutherland