Shearman & Sterling advised the German-based power and gas group E.ON in the divestiture of its Hungarian gas storage and trading activities to the Hungarian state-owned energy group MVM Hungarian Electricity Ltd. E.ON concluded an agreement to sell its 100-percent stakes in E.ON Földgáz Trade and E.ON Földgáz Storage to MVM. Including the assumption of debt, the purchase price for both companies is around €870 million.
Tags: Shearman & Sterling LLP
Klövern AB (publ) issues a Swedish five year SEK 700 million mortgage backed bond loan to finance a portfolio of investment properties in Karlstad, Sweden, with a total market value of approximately SEK 1.1 billion. Klövern will apply for a listing of the bond loan on NASDAQ OMX Stockholm.
Tags: Mannheimer Swartling
Vedder Price is pleased to announce its entry into the California market with an office in San Francisco.
Tags: Vedder Price P.C. | San Francisco
Paul Hastings LLP, a leading global law firm, announced today that the firm represented BMO Capital Markets as sole lead arranger and sole bookrunner, and Bank of Montreal, as the administrative agent in connection with a $1 Billion amended and restated senior secured revolving credit facility for WildHorse Resources, LLC.
Tags: Paul Hastings, LLP | HoustonPaul Hastings, a leading global law firm, announced today that the firm represented Reich and Tang, a subsidiary of Natixis Global Asset Management, S.A, in the agreement to acquire five money market funds from HighMark Management Capital Inc. a wholly owned subsidiary of Union Bank, NA.
Tags: Paul Hastings, LLP | New YorkShearman & Sterling represented Goldman, Sachs & Co., Jefferies LLC and William Blair & Company, LLC as initial purchasers in connection with Titan International, Inc.’s offering of $325 million of its 7.875% Senior Secured Notes due 2017. The proceeds from the offering were used to repay existing indebtedness of a recently acquired business in Europe and for general corporate purposes.
Tags: Shearman & Sterling LLP | New YorkSadara Basic Services Company today issued a SAR 7.5 Billion (equivalent to US$2 billion) project sukuk to help finance the construction of Sadara Chemical Company’s (Sadara) US$19.1 billion chemical and plastic production complex in Jubail Industrial City II, Saudi Arabia. Sadara, a joint venture between The Dow Chemical Co. and Saudi Arabian Oil Co., received approval for the sukuk issuance from the Capital Market Authority of Saudi Arabia last month and launched the issuance on March 13th. The sukuk certificates have a 15.75-year term with the investors expected to receive return of 6 month SAIBOR plus a margin. The sale was limited to Saudi nationals or established companies holding a commercial registration number with the Ministry of Commerce and Industry of Saudi Arabia.
Perkins Coie is pleased to announce that Michael R. Osterhoff, Adam L. Marchuk and Heather A. Boice have joined the firm’s patent litigation practice in Chicago. All three attorneys were most recently partners at K&L Gates LLP. The arrival of Osterhoff, Marchuk and Boice follows closely upon the recent addition of Dave Fournier to the firm’s Chicago office.
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The Palo Alto office of global law firm K&L Gates LLP welcomes Linda Zhou as a partner in the emerging growth and venture capital practice. Zhou joins K&L Gates from Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP.
Tags: K&L Gates LLP | Silicon Valley
The Firm recently represented Pinnacle Foods Inc. (“Pinnacle Foods”), a portfolio company of The Blackstone Group, L.P., in connection with its initial public offering of common stock. The offering of 33,350,000 shares of common stock, which included the underwriters’ option to purchase 4,350,000 additional shares, raised approximately $667 million in gross proceeds. The shares of Pinnacle Foods are now listed on The New York Stock Exchange under the ticker symbol “PF.”
Tags: Simpson Thacher & Bartlett LLP | New York