Proskauer advised long-term client Accor S.A. on the proposed sale of its United States Economy Hotels Division to an affiliate of Blackstone Real Estate Partners VII for $1.9 billion. The network includes Motel 6, the iconic North American brand, and Studio 6, an extended-stay economy chain, and comprises 1,102 hotels in the United States and Canada. The transaction is the largest in the U.S. lodging industry since 2010.
Tags: Proskauer Rose LLP | New York
Global law firm Weil, Gotshal & Manges represented Edwards Group Ltd., which has its headquarters in Crawley, UK, in connection with its initial public offering on the NASDAQ stock exchange in New York. Shares of the manufacturer of industrial vacuum equipment were priced at $8 per share; and trading of the approximately 12.5 million shares on offer commenced on May 11. At pricing, the market capitalisation of Edwards Group was $903 million. The IPO closed on May 16.
Tags: Weil, Gotshal & Manges, LLP | New York
Shearman & Sterling represented The Dow Chemical Company in its major arbitration victory announced today—in which Dow was awarded more than $2.1 billion. This case arose from the withdrawal by Petrochemical Industries Company, a wholly owned subsidiary of Kuwait Petroleum Company, from a planned joint venture with Dow.
Tags: Shearman & Sterling LLP | New York
Fox Rothschild LLP has significantly strengthened its national intellectual property practice with the addition of a prestigious group of patent litigators in the firm’s Washington, DC office.
Tags: Fox Rothschild LLPSchnader Harrison Segal & Lewis LLP is pleased to announce that Paul S. Jasper has joined the Firm’s San Francisco office as a partner in the Business Services Department, and the Corporate & Finance and Creditors’ Rights & Business Restructuring Practice Groups.
The Paris office of international law firm Eversheds has appointed French IP/IT law expert Gaëtan Cordier as a Partner to lead the Paris IP/IT team.
Tags: Eversheds Sutherland
Goldberg Segalla has appointed two new partners to its recently opened London office, strengthening its offering to insurance and reinsurance clients in Europe and across the globe.
Tags: Goldberg Segalla LLP
Davis Polk is advising Dalian Wanda Group Co., Ltd. (Wanda) on its approximately $2.6 billion acquisition of AMC Entertainment Holdings, Inc. (AMC). As part of the transaction, Wanda intends to invest up to an additional $500 million in AMC over time to fund AMC’s strategic and operating initiatives. The transaction is subject to customary closing conditions and U.S. and Chinese regulatory approvals.
Tags: Davis Polk & Wardwell LLP | New YorkDavis Polk acted as U.S. law adviser to Warburg Pincus in connection with its investment in Quikr Mauritius Holding Private Limited. Existing investors Matrix Partners India, Norwest Venture Partners and eBay Inc. also participated in this round of fund raising, which is the fifth and the largest round of capital raised and involved an investment of $32 million.
Tags: Davis Polk & Wardwell LLP | Hong Kong