The Firm recently represented Rockwood Holdings, Inc. (“Rockwood”) in connection with a secondary offering of 8,000,000 shares of common stock of Rockwood by funds affiliated with Kohlberg Kravis Roberts & Co. L.P. and DLJ Merchant Banking Partners III, L.P. The underwriter of the offering agreed to purchase the shares at a price of $37.52 per share, resulting in gross proceeds to the selling stockholders of approximately $300 million.
Tags: Simpson Thacher & Bartlett LLP White & Case Advises Talvivaara Mining Company on €225M Convertible Bond Offering
Global law firm White & Case LLP has advised FTSE 250-listed Finnish mining company, Talvivaara Mining Company Plc, on its €225 million senior unsecured convertible bonds offering. This is the first “cash-settled” convertible bond issued by a Finnish publicly traded company in that it allows investors to exchange bonds for cash during the period prior to the bonds becoming convertible into Talvivaara’s ordinary shares. The size of the deal was increased to €225 million after the greenshoe option was exercised by the joint bookrunners.
Tags: White & Case LLP Davis Polk Advises Morgan Stanley on Launch of Independent Advisory Firm
Davis Polk is advising Morgan Stanley in connection with an agreement reached between Morgan Stanley and the employees of its in-house quantitative proprietary trading unit Process Driven Trading (PDT), whereby PDT employees will acquire certain assets from Morgan Stanley and launch an independent advisory firm at the end of 2012. Morgan Stanley will have the option to acquire a preferred stake in the new entity, to be known as PDT Advisors.
Tags: Davis Polk & Wardwell LLP Skadden Representing Duke Energy and Progress Energy in Merger
Skadden is representing both Duke Energy and Progress Energy, Inc., in connection with the antitrust and regulatory aspects of their announcement, on Jan., 10, 2011, that both companies’ boards of directors have unanimously approved a definitive merger agreement. The combined company, to be called Duke Energy, will be the country’s largest utility.
Tags: Skadden, Arps, Slate, Meagher & Flom LLPFreshfields Advises Merck KGaA on the Sale of Théramex to Teva
International law firm Freshfields Bruckhaus Deringer has advised the global pharmaceutical and chemical company Merck KGaA in connection with the disposal of its women’s health care and contraception business to Teva Pharmaceutical Industries Ltd.
Tags: Freshfields LLP SNR Denton Advises Tata Steel France Rail SA on €66 Million Rail Sale and Transportation Contract
SNR Denton announced today that it advised Tata Steel France Rail SA on a €66 Million rail sale and transportation contract as part of the global concession for the design, construction, maintenance, exploitation and financing of the new high speed railway (TGV) South Europe Atlantic.
Tags: Dentons Kirkland & Ellis LLP Advises Monomoy Capital Partners in Final Closing of $400 Million Second Fund
Kirkland & Ellis LLP advised Monomoy Capital Partners in the closing of its second fund, Monomoy Capital Partners II, L.P. (“Fund II”), with $400 million of limited partner commitments. Monomoy’s Fund II, which exceeded the firm’s $350 million fundraising target, was significantly oversubscribed at its final closing. Monomoy secured commitments from a substantial majority of its existing investors and added a number of high-quality new investors from Europe and the United States to its limited partner base.
Tags: Kirkland & Ellis LLP Simpson Thacher Represents Underwriters in $157 Million Initial Public Offering of Nuveen Build America Bond Opportunity Fund
Simpson Thacher represented the underwriters, led by Citigroup Global Markets Inc., Morgan Stanley & Co. Incorporated and Nuveen Investments, LLC, in connection with the initial public offering of Nuveen Build America Bond Opportunity Fund (the “Fund”). The offering raised approximately $157 million, assuming full exercise of the underwriters’ option to purchase additional shares.
Tags: Simpson Thacher & Bartlett LLP Stamford Law Advises AVIC Kairong on its Acquisition of Listing Status
Stamford Law Corporation is advising AVIC Kairong on its acquisition of listing status through an Implementation Agreement it has signed with Sino-Environment Technology Group Limited, an SGX-ST Main Board listed company currently under judicial management whose shares are currently suspended from trading.
Shearman & Sterling Advises on Precision Drilling Corporation’s $650 Million Private Placement of Senior Notes
Shearman & Sterling represented Credit Suisse Securities (USA) LLC and RBC Capital Markets, LLC, as joint bookrunning managers, and Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley & Co. Incorporated and TD Securities (USA) LLC, as senior co-managers, and Deutsche Bank Securities Inc., HSBC Securities (USA) Inc. and Wells Fargo Securities, LLC, as co-managers, in connection with Precision Drilling Corporation’s private placement of $650 million aggregate principal amount of its 6.625% Senior Notes due 2020. The notes are guaranteed by certain of Precision’s subsidiaries.
Tags: Shearman & Sterling LLP