Milbank Advises ProSiebenSat.1 on Sale of TV and Radio Operations in Northern Europe

The ProSiebenSat.1 Group has agreed to sell its TV and radio operations in Northern Europe (Norway, Sweden, Finland and Denmark) to Discovery Networks International Holdings Limited, a subsidiary of Discovery Communications; Inc. A respective sale and purchase agreement was signed on 14th December 2012. The transaction is subject to merger control clearance and is expected to be consummated in the first quarter of 2013. The production business of the ProSiebenSat.1 Group in Northern Europe (Red Arrow Entertainment Group) is not included in the transaction.

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Tags:  Milbank LLP

Orrick Advises Industrial Investors Group on FESCO Sale

Orrick, Herrington & Sutcliffe LLP recently advised Industrial Investors Group, a leading Russian industrial investment group, in the sale of its stake in Russia’s Far Eastern Shipping Company (FESCO) to Summa Group. The deal amount was not disclosed, but was financed in part by a US $800 million syndicated loan from Goldman Sachs, ING and Raiffeisen Bank.

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Tags:  Orrick, Herrington & Sutcliffe LLP

Simpson Thacher Represents Initial Purchasers in US $600 Million Securitized Fixed Rate Senior Secured Notes Offering by Subsidiaries of Iconix Brand Group, Inc.

The Firm represented the initial purchasers, led by Barclays Capital Inc., in connection with a US $600 million offering of 4.229% Fixed Rate Senior Secured Notes by subsidiaries of Iconix Brand Group, Inc. The offering was made to qualified institutional buyers in reliance on Rule 144A and outside the United States to non-U.S. persons in reliance on Regulation S under the Securities Act. The net proceeds from the offering were used to repay amounts outstanding under Iconix’s existing revolving credit facility and costs associated with the securitized financing transaction as well as to finance a portion of Iconix’s purchase of the Umbro brand and general corporate purposes.

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Tags:  Simpson Thacher & Bartlett LLP | New York