Hellman & Friedman to Acquire Renaissance Learning

Skadden is representing the Permira funds in their $1.1 billion pending disposition of Renaissance Learning, a K12 assessment and learning analytics company, to Hellman & Friedman LLC, announced on March 13.
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Buchanan Ingersoll & Rooney and Fowler White Boggs to Merge

Two major law firms, Buchanan Ingersoll & Rooney PC and Fowler White Boggs P.A. announced that a vote from shareholders of both firms today affirmed their merger, effective March 14, 2014.

The addition of more than 90 attorneys and government relations professionals from Fowler White to the nearly 450 at Buchanan will propel the unified firm to one of the 100 largest law firms in the United States and will further enhance the firm’s preeminent East Coast presence and key practice areas. Both firms enter the combination from positions of financial strength with deep client relationships and a culture that focuses on maintaining the highest levels of client service. Terms of the deal were not disclosed. More >>

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Hellas Liquidators File US$1.3 Billion Lawsuit against Leading Private Equity Funds

The Joint Compulsory Liquidators of Hellas Telecommunications (Luxembourg) II SCA, Andrew Hosking and Simon Bonney, after consultation with legal advisors and the company’s creditors’ committee, have filed a lawsuit against TPG Capital Management, L.P. and Apax Partners LLP, among other defendants, seeking damages of more than US$1.3 billion plus interest. The complaint filed in the United States Bankruptcy Court for the Southern District of New York alleges that TPG and Apax engaged in wrongdoing giving rise to claims of actual and constructive fraudulent conveyance and unjust enrichment.

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Clifford Chance advises Hopu Investment Management as part of a US$2.5 billion investment in Global Logistic Properties

Leading international law firm Clifford Chance has recently advised Hopu Investment Management, as part of a consortium, on a combined investment of up to US$2.5 billion in Global Logistic Properties (GLP), a Singapore-listed provider of logistics facilities in China, Japan and Brazil. GLP intends to use the majority of the proceeds to enhance access to strategic land holdings and customers, and further develop its network in China. This transaction is subject to regulatory and GLP shareholder approval.

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Davis Polk Advises Temasek on Its Investment in TutorGroup Holding

Davis Polk advised Temasek in connection with its affiliate’s investment in Series B preferred shares of TutorGroup Holding. Affiliates of Alibaba Group, the China-based e-commerce company, and Qiming Venture Partners, a China-based venture capital fund, also participated in this round of financing. The aggregate investment size for this Series B round was close to $100 million. More >>

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Shearman & Sterling Represents Underwriters in Connection with HSBC Holdings plc’s US$3.5 Billion Notes Offering

Shearman & Sterling represented the underwriters (led by HSBC Securities (USA) Inc.) in connection with HSBC Holdings plc’s offering of US$2 billion aggregate principal amount of 4.250% subordinated notes due 2024 and US$1.5 billion aggregate principal amount of 5.250% subordinated notes due 2044. The subordinated notes qualify as Tier 2 capital under Basel III and are subject to the exercise of “bail-in” powers by UK regulatory authorities.

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