Willkie – Real Estate Department Advises Sunrise Senior Living in $1.9 Billion Merger

On August 22, Willkie client Sunrise Senior Living, Inc. announced that it has entered into a definitive merger agreement under which Health Care REIT, Inc. will acquire all of the outstanding common stock of Sunrise for $14.50 per share in an all-cash transaction valued at approximately $1.9 billion (including debt). The merger is expected to create one of the largest owners of nursing homes in the United States, Canada and Britain. Willkie attorneys assisted Sunrise in connection with the real estate aspects of the merger.

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Tags:  Willkie Farr & Gallagher LLP | New York

Clayton Utz Advises Salmat on BPO Divestment

A Clayton Utz team has advised ASX-listed Salmat Limited (“Salmat”) on the sale of its Business Process Outsourcing (“BPO”) division to Japan’s FUJIFILM Holdings Corporation (“Fujifilm Holdings”) for $375 million

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Tags:  Clayton Utz

Herbert Smith Advises Cable & Wireless Worldwide on £1 Billion Takeover by Vodafone

Herbert Smith has advised long-standing client Cable & Wireless Worldwide (‘CWW’) on its recent takeover by Vodafone, which was implemented by way of a scheme of arrangement. Vodafone paid approximately £1.04 billion to gain control of CWW, in a transaction designed to strengthen Vodafone’s enterprise business and position it well to capitalise in the growing market for unified communications.

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Tags:  Herbert Smith Freehills LLP

Chadbourne Represents OrPower 4 Inc. in Connection with Long-term Senior Debt Financing of up to $310 Million for the Olkaria III Geothermal Power Complex in Kenya

Chadbourne & Parke LLP represented OrPower 4 Inc., a wholly-owned indirect subsidiary of NYSE-listed Ormat Technologies, Inc., in connection with an up to $310 million limited-recourse project financing from the Overseas Private Investment Corporation, an agency of the United States Government, for the Olkaria III geothermal power complex located in Naivasha, Kenya. The OPIC financing, which was signed on August 23, 2012, is comprised of two tranches aggregating up to $265 million that will be used to pay costs of the existing 48 MW Plant 1 at the Olkaria III complex, and fund the construction well field drilling for the expansion of the Olkaria III geothermal power complex to up to 84 MW (Plant 2). The OPIC financing also includes up to $45 million of a stand-by tranche in the event that OrPower 4 elects to construct a further additional expansion of up to 16 MW (Plant 3).

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