The Firm is representing Yahoo! Inc. (NASDAQ: YHOO) in connection with its announced acquisition of Tumblr for a total consideration of $1.1 billion. According to the purchase agreement, Tumblr will be independently operated as a separate business. The transaction is expected to close in the second half of the year and is subject to customary closing conditions.
Tags: Simpson Thacher & Bartlett LLP | New YorkThe Firm represented New Look Bondco I plc in connection with its offering of £500 million aggregate principal amount of 8.75% Fixed Rate Senior Secured Notes due 2018, $250 million aggregate principal amount of 8.375% Fixed Rate Senior Secured Notes due 2018 and €175 million aggregate principal amount of Floating Rate Senior Secured Notes due 2018 (together, the “Notes”). In addition, the Firm represented New Look in connection with its entry into a new Revolving Credit Facility and an exchange offer to lenders under its existing PIK Facility to exchange loans under such facility for cash and loans under a new PIK Facility. The Notes offerings and other refinancing transactions closed on May 14, 2013.
Tags: Simpson Thacher & Bartlett LLPSimpson Thacher recently represented Algeco Scotsman, a portfolio company of TDR Capital, in connection with the incurrence of $400 million in aggregate principal amount of PIK loans maturing in May 2018. The loans will bear interest at a rate equal to 15.75% per annum if paid as PIK or 15.00% per annum if paid in cash. The proceeds of the PIK loans will fund a partial redemption of capital, net of transaction fees and expenses, by shareholders.
Tags: Simpson Thacher & Bartlett LLP | New YorkMcKenna Long & Aldridge LLP (MLA) is pleased to announce that Jonathan A. Ballan has joined the firm as partner in the New York office. Ballan will head the New York Public Finance Group and will co-chair the firm’s Global Infrastructure and Public-Private Partnerships practice.
Tags: New York
Paul Hastings, a leading global law firm, announced today that the firm represented Morgan Stanley & Co. LLC and the other initial purchasers in connection with the Rule 144A offering of $500 million of 5.875% senior notes due 2023 by Dynegy Inc., a producer and distributer of electric energy, capacity and ancillary services in key U.S. markets.
Tags: Paul Hastings, LLP | New YorkChadbourne & Parke acted as the key legal advisor to investment firm Yi-Ko Holding GmbH in its acquisition from Burger King Worldwide Inc. of its wholly-owned subsidiary Burger King GmbH and its 91 company-owned Burger King restaurants in Germany. As part of the transaction, Yi-Ko Holding GmbH agreed to develop new Burger King restaurants during the next five years and remodel an additional 57 Burger King restaurants during the next 18 months. Burger King is the second largest fast food hamburger restaurant chain in the world.
Tags: GermanyMatheson is advising the US pharmaceutical firm Actavis on its $5.1 billion acquisition of Dublin-based Warner Chilcott. The Matheson team is led by Patrick Spicer, George Brady and Tim Scanlon with tax advice from John Ryan and Shane Hogan.
Nationally-recognized employee benefits and executive compensation lawyer David I. Schiller, who has substantial experience in all facets of the practice, joined Baker Botts L.L.P. today as a partner in the firm’s Tax department. He will be based in the Dallas office.
Tags: Baker Botts L.L.P. | Dallas
O’Melveny & Myers LLP is pleased to announce that Zachary H. Smith has joined O’Melveny’s Restructuring Practice as a partner in New York. Smith joins the Firm from Cadwalader following the announcement last week that John J. Rapisardi and George A. Davis, former co-chairs of Cadwalader’s Global Financial Restructuring Department, and former Cadwalader partner Peter M. Friedman were joining O’Melveny.
Tags: O'Melveny & Myers, LLP | New York
Ropes & Gray is representing the Blackstone-led buyer group consortium in the going-private transaction of China-based Pactera Technology International Ltd. (Pactera).
Tags: Ropes & Gray LLP | Hong Kong