Shearman & Sterling is representing The Dow Chemical Company in the divestiture of Dow’s global Polypropylene Licensing & Catalysts business to W. R. Grace & Co. for $500 million
Tags: Shearman & Sterling LLP | New York
Top-Ranked Private Equity/Buyouts Lawyer Steven Peck Joins Proskauer
Global law firm Proskauer announced today that top-ranked Private Equity/Buyouts lawyer Steven M. Peck has joined the firm’s Corporate Department and Private Equity and Mergers & Acquisitions Groups. Mr. Peck’s diverse transactional experience includes representing private equity sponsors, multi-national corporations, and other market participants in their most challenging transactional matters in the United States and throughout the world. He also advises clients regarding securities law issues, disclosure and compliance matters, and corporate governance.
Tags: Proskauer Rose LLP
Baker Botts Represents Regency Energy Partners in $5.6 Billion Acquisition of PVR Partners
Regency Energy Partners LP (“Regency”) (NYSE:RGP) and PVR Partners, L.P. (“PVR”) (NYSE:PVR) today announced that their respective boards of directors have unanimously approved a definitive merger agreement, pursuant to which Regency will acquire PVR. This acquisition will be a unit-for-unit transaction plus a one-time cash payment to PVR unitholders that collectively imply a value today for PVR of approximately $5.6 billion, including the assumption of net debt of $1.8 billion.
Tags: Baker Botts L.L.P. | Houston
Dechert Advises MacDermid, Incorporated in $1.8 Billion Sale to Platform Acquisition Holdings Limited
Platform Acquisition Holdings Limited (LSE: PAH) announced today that it has entered into a definitive agreement to acquire MacDermid, Incorporated, a global provider of high value-added specialty chemicals, for approximately $1.8 billion plus contingent consideration. Dechert LLP represented MacDermid and its stockholders in the transaction.
Tags: Dechert LLP
Hogan Lovells Advises on Innovative Kodak Pension Plan Restructuring
Hogan Lovells advised the Trustees of the Kodak Pension Plan (KPP) on an innovative pensions restructuring, agreed by KPP members representing 92% of KPP’s liabilities, to give members of the KPP the option to opt out of the UK Pension Protection Fund (PPF) and into a plan with better benefits than the PPF.
Tags: Hogan Lovells
Arnold & Porter Represents Republic of Turkey in Its Second Islamic Bond Offering
The Republic of Turkey closed today a $1.25 billion Sukuk offering, its second such closely-watched financing transaction within the last 14 months. The Republic had closed its first-ever Islamic finance offering in September, 2012, which consisted of lease certificates due in 2018 and had also raised $1.5 billion. In the latest offering, the New York and London offices of Arnold & Porter LLP again acted as Turkey’s international legal counsel, in association with Somay Hukuk Burosu, the Republic’s Turkish counsel.
Tags: Arnold & Porter Kaye Scholer LLP | New York
Herrick Opens Two New Offices in Istanbul, Turkey and Washington, D.C.
Herrick, Feinstein LLP today announced a significant expansion of the firm’s national and international capabilities with the opening of two new offices in Washington, D.C., and Istanbul, Turkey. Herrick’s Washington and Istanbul offices are the firm’s fourth and fifth offices respectively, and the first new offices opened by the firm since 2000.
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Morgan Lewis Advises Buckeye Partners on $850 Million Acquisition of Product Terminals from Hess
Buckeye Partners, L.P., a publicly traded master limited partnership that owns and operates one of the largest independent liquid petroleum products pipeline systems in the U.S., announced that it has signed a definitive agreement with Hess Corporation and its subsidiaries to acquire 20 liquid petroleum products terminals with total storage capacity of approximately 39 million barrels for $850 million. The acquisition, which is subject to regulatory approvals and customary closing conditions, is expected to close before year-end.
Tags: Morgan, Lewis & Bockius LLP
Simpson Thacher Represents First Reserve Corporation in its Investment in American Energy – Utica, LLC
Simpson Thacher is representing First Reserve Corporation in connection with its equity investment in an aggregate $1.7 billion fund-raising by American Energy – Utica, LLC (“AEU”). The proceeds of the fund-raising will be used by AEU to pursue a business plan focused on the Utica Shale play in eastern Ohio, including acquiring acreage of leaseholds and financing drilling operations which are expected to commence in the fourth quarter of 2013.
Tags: Simpson Thacher & Bartlett LLP | New YorkSimpson Thacher Represents Melrose Industries PLC on the Sale of its Crosby and Acco Divisions
The Firm is representing Melrose Industries PLC (“Melrose”), a UK based FTSE 100 company, on the sale of The Crosby Group (“Crosby”) and Acco Material Handling Solutions (“Acco”) to Kohlberg Kravis Roberts & Co. L.P. for an enterprise value of US$1.01 billion. Crosby and Acco manufacture and sell hooks, slings, hoists and other lifting and rigging equipment used in, amongst other things, the oil, gas, mining and manufacturing industries.
Tags: Simpson Thacher & Bartlett LLP