Shearman & Sterling is advising Singapore Airlines in the sale of its 49 percent stake in Virgin Atlantic to Delta Airlines. Delta will invest $360 million in Virgin Atlantic, acquiring the 49 percent stake currently held by Singapore Airlines. Virgin Group and Sir Richard Branson will retain the majority 51 percent stake.
Tags: Shearman & Sterling LLP | Singapore
Orrick, Herrington & Sutcliffe LLP represented Spanish wind turbine manufacturer Gamesa Energy USA, LLC in the simultaneous $238 million sale of the 200 megawatt Minonk project located in Illinois and the 150 megawatt Senate project located in Texas to Algonquin Power & Utilities and a separate tax equity investment by J.P. Morgan Chase & Co. and Morgan Stanley. The multifaceted transaction also included a complex energy hedging transaction with J.P. Morgan Ventures Energy Corporation for the clean, renewable energy of the projects. The Minonk and Senate projects were part of a three-project portfolio that also included the 50 megawatt Sandy Ridge project located in Pennsylvania which reached financial closing and commercial operation earlier this year.
Tags: Orrick, Herrington & Sutcliffe LLP | New York
International legal practice Norton Rose is advising Delta Air Lines, Inc. in relation to the proposed US$360 million acquisition of a 49 per cent stake in Virgin Atlantic from Singapore Airlines.
Tags: Norton Rose Fulbright
Calfee, Halter & Griswold LLP is pleased to announce it is expanding its presence in Ohio, led by partner John Mongelluzzo, who has been joined by partner Matthew Parrish.
Tags: Calfee, Halter & Griswold LLP
Akerman Senterfitt announced it has represented Carrols Restaurant Group Inc., the largest Burger King franchisee, in an underwritten public offering of 4,085,109 shares of its common stock held by funds managed by Jefferies Capital Partners, a private equity firm, in which Raymond James & Associates Inc. acted as the underwriter.
Tags: Akerman LLP | New York
On December 11, 2012, Delta Air Lines and Virgin Atlantic Airways Ltd. reached an agreement for a new joint venture that will create an expanded trans-Atlantic network and enhance competition between the U.K. and North America, offering greater benefits for customers traveling on those routes. Cravath represented Delta in connection with this transaction.
Tags: Cravath, Swaine & Moore LLP | New York
King & Wood Mallesons has advised Commonwealth Bank of Australia (CBA) as arranger on the renewal of a $200 million, three year financing facility for engineering and project services company Clough Limited.
Tags: King & Wood MallesonsLeonard, Street and Deinard today announced that Robert Zeglovitch has rejoined the firm as a shareholder in the firm’s Labor and Employment practice.
Simpson Thacher represented Siris Capital Group in connection with forming and raising its $640.9 million private equity fund. Siris is a newly-established private equity firm founded by Frank Baker, Peter Berger and Jeffrey Hendren. Siris, based in New York, will focus principally on North American, middle-market, investment opportunities initially in technology, telecommunications and technology-enabled business services.
Tags: Simpson Thacher & Bartlett LLP | New YorkThe Firm is serving as U.S. antitrust counsel to Virgin Atlantic in connection with a proposed joint venture with Delta Air Lines to combine Virgin and Delta’s transatlantic networks between the United Kingdom and North America. As part of the joint venture agreement, Delta will also invest $360 million in Virgin Atlantic, acquiring a 49% stake in the airline. The parties announced the transaction on December 11, 2012. The transaction is subject to customary regulatory approvals.
Tags: Simpson Thacher & Bartlett LLP | New York