Goodwin Procter attorneys recently advised a consortium of venture investors in Oculus VR, Inc. in connection with the company’s approximately $2 billion sale to Facebook. The investor group included Andreessen Horowitz, Matrix Partners and Spark Capital. The transaction includes $400 million in cash and 23.1 million shares of common stock and is expected to close in the second quarter of 2014. Additional terms of the transaction were not disclosed.
Tags: Goodwin Procter LLP
Herbert Smith Freehills has advised a consortium made up of Marubeni Corporation, POSCO and China Steel Corporation on the US$7.2 billion debt package secured by the Roy Hill iron ore project in the Pilbara region of Western Australia. The consortium has a 30% interest in the Roy Hill project.
The US$7.2 billion debt package is comprised of loans and guarantees from five export credit agencies (Japan Bank for International Cooperation, Korea Eximbank, Korea Trade Insurance Corporation, Nippon Export and Investment Insurance and Export-Import Bank of the United States) and a consortium of 19 commercial banks from Australia, Japan, Europe, China, Korea and Singapore.
Tags: Herbert Smith Freehills Kramer LLP
Simpson Thacher recently represented the underwriters, led by Nomura Securities International, Inc., in an offering by Nomura Holdings Inc. (“Nomura Holdings”) of $1 billion aggregate principal amount of its 2.75% Medium-Term Notes, Series A due 2019. The Notes are listed on the London Stock Exchange.
Tags: Simpson Thacher & Bartlett LLPSkadden is representing Wilton Re Holding Limited in its $1.8 billion acquisition by the Canada Pension Plan Investment Board, announced on March 21. More >>
In an excellent example of cross-border and cross-practice collaboration, our Madrid Energy team recently worked with our Corporate and Tax team in The Hague to advise YPF S.A., Argentina’s largest oil company, on the acquisition of Luxembourg holding companies with indirect rights and interests in the group’s Argentinian upstream and downstream assets. These were purchased from US-based company Apache Corp. for a total of USD 800 million.
Herbert Smith Freehills has advised Commonwealth Bank of Australia (CBA) on its exit from its property funds management and property asset management platform. The property platform provided management services to three listed trusts with over A$20 billion in property assets under management.
The trusts were CFS Retail Property Trust Group (CFX), Commonwealth Property Office Fund (CPA) and the Kiwi Income Property Trust (KIPT). The platform also included various unlisted wholesale funds and third party property mandates.
Tags: Herbert Smith Freehills Kramer LLP
Paul Hastings LLP, a leading global law firm, represented Alfa, S.A.B. de C.V., one of the largest conglomerates in Latin America, in its inaugural $1 billion international bond offering. Alfa is a leading Mexican company engaged in the petrochemicals, refrigerated foods, aluminum auto parts, natural gas and hydrocarbons and telecommunications businesses. The offering involved the issuance of US$500 million of 5.250% Senior Notes due 2024 and US$500 million of 6.875% Senior Notes due 2044. Alfa became one of the select group of Latin American companies able to access the 30-year international bond market. The notes were issued pursuant to Rule 144A and Regulation S in a more than four times oversubscribed offering. The underwriters involved were Credit Suisse, Goldman Sachs, J.P. Morgan and Morgan Stanley.
Tags: Paul Hastings, LLP
Shearman & Sterling represented Goldman, Sachs & Co., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Barclays Capital Inc., Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC and Deutsche Bank Securities Inc. as the joint bookrunning managers in connection with Novartis Capital Corporation’s offering of $2.15 billion aggregate principal amount of 3.400% Notes due May 6, 2024 and $1.85 billion 4.400% Notes due May 6, 2044. Both tranches of notes were fully and unconditionally guaranteed by Novartis AG.
Tags: Shearman & Sterling LLPSimpson Thacher recently represented the international managers in connection with the initial public offering of Japan Display Inc. on the Tokyo Stock Exchange, which included an international offering to institutional investors pursuant to Rule 144A and Regulation S.
Japan Display Inc. is one of the world’s leading display panel manufacturers, with a focus on manufacturing small- to mid-sized display panels for smartphones and tablets.
Tags: Simpson Thacher & Bartlett LLP