Paul Hastings LLP, a leading global law firm, announced today that the firm is representing Weichai Power in the purchase of a 25% stake in KION Group, a worldwide leading provider of forklifts, warehouse equipment and other industrial trucks, and in the acquisition of a 70% stake in KION’s hydraulics business, Linde Hydraulics. Weichai Power is a leading automotive and equipment manufacturing group in China.
Tags: Paul Hastings, LLP
Simmons & Simmons has expanded its international Corporate & Commercial Group with the appointment of Helmut Kempf as a partner.
Tags: Simmons & Simmons | Germany
Davis Polk advised Deutsche Bank AG, Hong Kong Branch and Credit Suisse (Hong Kong) Limited as (i) placing agents in connection with the Rule 144A placement of 443,248,000 existing shares and subscription of 443,248,000 new shares in China Power International Development Limited (CPIDL) and (ii) joint underwriters and joint bookrunners in connection with the Regulation S offering by CPIDL of RMB1,140 million USD-settled 2.75% convertible bonds due 2017.
Tags: Davis Polk & Wardwell LLP | Hong KongDavis Polk advised Credit Suisse Securities (USA) LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated as underwriters on a public offering by Laboratory Corporation of America Holdings (LabCorp) of $500 million aggregate principal amount of 2.20% senior notes due 2017 and $500 million aggregate principal amount of 3.75% senior notes due 2022.
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Herbert Smith has advised Macquarie Capital as placing agent in connection with the sale of 9.1 million shares in SM Investments Corporation, a Manila-based conglomerate listed on the Philippine Stock Exchange, under a top-up placing structure.
Tags: Herbert Smith Freehills LLP | Singapore
The Am Law Daily reports on ING reaching an agreement to sell ING Direct Canada to Scotiabank for CAD 3.1 billion (“S&C, Canadian Firms Take Top Billing on Scotiabank’s $3.1 Billion ING Buy,” access required to view article).
Tags: Norton Rose Fulbright
Simpson Thacher is representing Lightyear Capital in connection with the acquisition of Flagstone Reinsurance Holdings Ltd. by Validus Holdings Ltd. Under the terms of the transaction, Flagstone shareholders will receive 0.1935 Validus voting common shares and $2.00 in cash for each Flagstone share. The transaction represents an aggregate equity value of $623.2 million. Funds associated with Lightyear Capital own 8.5% of the outstanding Flagstone shares and have entered into a voting agreement with Validus to vote in support of the transaction.
Tags: Simpson Thacher & Bartlett LLP | New YorkThe Firm is representing J.P. Morgan and Goldman, Sachs & Co. as financial advisors to Dollar Thrifty Automotive Group, Inc. in its acquisition by Hertz Global Holdings, Inc. in a transaction valued at approximately $2.3 billion.
Tags: Simpson Thacher & Bartlett LLP | New YorkThe Firm represented JPMorgan Chase & Co. in connection with an offering of an aggregate of 50,300,000 depositary shares, each representing a 1/400th interest in a share of JPMorgan Chase & Co.’s 5.50% Non-Cumulative Preferred Stock, Series O. The offering closed on August 27, 2012.
Tags: Simpson Thacher & Bartlett LLP | New York