Walkers, the leading International Financial Centre law firm, is pleased to announce it acted as Cayman Islands counsel to MGM China Holdings Limited on its HK$11.7 billion (US$1.5 billion) Hong Kong initial public offering.

A federal judge, following the recommendation of an advisory jury, ruled in favor of AmFin Financial Corporation (AFC) in a case of first impression nationally with significant implications for federal bank regulators that attempt to make holding companies responsible for maintaining the capital of a failed bank or savings and loan association. AFC, the savings and loan holding company formerly known as AmTrust Financial Corporation, is represented by Squire, Sanders & Dempsey.

Simpson Thacher represented the underwriters, led by J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Wells Fargo Securities, LLC, in the issuance of $400 million in aggregate principal amount of 5.00% Senior Notes due 2021 by Reinsurance Group of America, Incorporated (“RGA”).

Herbert Smith assisted Rio Tinto in the negotiation of a settlement agreement regarding the multi-billion dollar Simandou iron ore project in Guinea.

Davis Polk advised Citibank, N.A. as lead arranger and administrative agent in connection with a refinancing and repricing amendment to Lyondell Chemical Company’s and certain of its subsidiaries’ secured asset-based credit facility. The refinancing and repricing amendment increased the total commitments under the facility to $2 billion and extended the maturity of the facility until June 2016.

Ashurst advised The Royal Bank of Scotland N.V., London Branch and Carnegie Investment Bank AB on its role in BAE Systems plc’s sale of 11,166,173 B shares in Saab AB (publ), raising proceeds of SEK 1,553 million (£152 million) for BAE. Saab AB is listed on the NASDAQ OMX in Stockholm. The sale was executed pursuant to an accelerated book-building process.

Simpson Thacher is representing Melrose PLC (“Melrose”) on its disposal of Dynacast to KDI Holdings Inc, a newly incorporated company managed by Kenner & Company, Inc. Dynacast is a leading global provider of precision die cast components for a wide variety of industries including healthcare, consumer electronics, computers and peripherals, and automotive.

Cahill represented NBCUniversal in its winning bid to the International Olympic Committee (IOC) to acquire the U.S. broadcasting rights to the 2014 Winter Games in Sochi, Russia, the 2016 Summer Games in Rio de Janeiro, Brazil and the 2018 Winter Games and 2020 Summer Games, whose sites have yet to be chosen. As announced in Lausanne, Switzerland today, NBC and the IOC have agreed upon a deal valued at $4.38 billion, which will give NBC the exclusive broadcasting rights across television, Internet and Mobile platforms for the Olympic Games through 2020. The four Games package NBC has secured will allow the network to continue its streak of having broadcast every Summer Games since 1988 and every Winter Games since 2002.

Davis Polk is advising NBCUniversal on its acquisition of The Blackstone Group’s 50% interest in Universal Orlando. The purchase price for Blackstone’s interest is $1.025 billion, subject to various purchase price adjustments. Following the closing, NBCUniversal and its affiliates will own 100% of Universal Studios Florida, Universal’s Islands of Adventure and Universal CityWalk, which are located at Universal Orlando. The transaction is expected to close on July 1, 2011.

On June 3, Willkie client Fiat S.p.A. and the United States Department of Treasury announced that the Treasury will sell its remaining 6 percent interest in Chrysler Group LLP to a Fiat subsidiary for $500 million. Fiat will also pay an additional $60 million for the U.S. government’s rights to acquire Chrysler shares that are currently owned by a union-managed healthcare trust, and $15 million to the Canadian government for its rights to purchase union shares. Upon consummation, this transaction will result in the end of the U.S. government’s ownership stake in Chrysler. Upon announcement of the transaction, President Obama addressed a Chrysler plant in Toldeo, Ohio, touting the comeback of the U.S. auto industry.