Weil Advises Apache in $3.1 Billion Sale of Egypt Energy Stake to Sinopec

Wednesday, September 4, 2013

International law firm Weil, Gotshal & Manges is representing Houston-based oil and gas producer Apache Corporation in the sale of a 33 percent stake in its Egyptian oil and gas business to China’s Sinopec International Petroleum Exploration and Production Corporation (Sinopec). Apache’s Egyptian production in 2012 totaled an average of 100,000 barrels of oil and 354 million cubic feet of natural gas per day, while providing employment for about 9,000 people in Egypt, where the company has two decades of industry experience. In announcing the transaction on August 29, 2013, Apache pointed to the Sinopec deal as the first step in a global strategic partnership between the two companies to pursue joint upstream oil and gas projects. The deal is expected to close in Q4.

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Tags:  Weil, Gotshal & Manges, LLP | Dallas

Baker & McKenzie Advises Fortune REIT on Its HK$5.84 Billion Acquisition of Kingswood Ginza in Hong Kong

Wednesday, September 4, 2013

Baker & McKenzie is advising ARA Asset Management (Fortune) Limited, as manager of Fortune Real Estate Investment Trust (“Fortune REIT”), on Fortune REIT’s proposed acquisition from Cheung Kong (Holdings) Limited of Kingswood Ginza in Hong Kong for a total consideration of approximately HK$5.84 billion. The acquisition will be by way of purchase of the company holding the Kingswood Ginza Property. The purchase consideration will be financed by drawing down new term loan facilities and using the net proceeds of the unit placement conducted recently by Fortune REIT in August 2013. Baker & McKenzie advised Fortune REIT on the unit placement and is also advising on the debt financing.

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Tags:  Baker McKenzie | Hong Kong

McKenna Long & Aldridge LLP Continues Corporate Practice Growth in Southern California

Wednesday, September 4, 2013

McKenna Long & Aldridge LLP (MLA) announces the addition of Elizabeth Bawden to the firm’s Corporate practice in California.  Based in Los Angeles, Bawden’s experience includes implementing complex estate plans for high net worth clients, counseling clients with respect to intra-family wealth transfers, advising and assisting trustees and estate executors concerning all phases of probate and trust administration, and establishing and representing private foundations, public charities and other types of tax-exempt organizations. Joining the Private Client Services team as a partner, she is the tenth addition to MLA’s Corporate practice this year.

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Tags:  Los Angeles

Kirkland & Ellis Represents L Capital Asia on Closing of US$950 Million L Capital Asia 2

Wednesday, September 4, 2013

Kirkland & Ellis represented L Capital Asia, the Asian private equity arm of LVMH Moët Hennessy Louis Vuitton S.A. (LVMH), which recently closed its second private equity fund. The fund was oversubscribed and closed at its hard cap of US$950 million, exceeding its original target of US$800 million. The fund, which will make investments in Asia’s lifestyle-consumer and branded goods sectors, accepted commitments from a broad mix of global institutional investors, including sovereign wealth funds, pension plans, endowments and foundations, diversified financial institutions and family offices.

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Tags:  Kirkland & Ellis LLP | Hong Kong

Hogan Lovells Closes US$650M Acquisition of Two Global Kodak Businesses for KPP

Wednesday, September 4, 2013

Hogan Lovells advised the Trustees of the Kodak Pension Plan (KPP) on the implementation and completion of a comprehensive settlement of its claims against Eastman Kodak Company (EKC) and Kodak Limited, its UK subsidiary. This included the acquisition of EKC’s Personalized Imaging (PI) and Document Imaging (DI) businesses, valued at US$650 million but acquired through a mixture of release of claims and a cash consideration of $325m. The acquisition closed 3 September 2013, the day of EKC’s emergence from bankruptcy.

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Tags:  Hogan Lovells | New York

Dentons Advises Shareholders of Russia’s National Container Company on US$1.6 Billion Sale to LSE-listed Russian Ports Operator Global Ports

Wednesday, September 4, 2013

Dentons is advising the shareholders of NCC Group Limited, a major container terminals operator in Russia, on the sale of 100% of NCC Group’s shares to LSE-listed Russian ports operator Global Ports, for a cash consideration of US$291 million and new shares representing approximately 18% of the enlarged share capital of Global Ports to be issued to the sellers, of which 50% will be in the form of GDRs and 50% will be non-voting shares.

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Tags:  Dentons | Moscow