Duane Morris Commences Joint Law Venture with Selvam Firm in Singapore

U.S. law firm Duane Morris LLP and Singapore law firm Selvam LLC today commenced their new Singapore-based joint venture. With the affiliation, formally known in Singapore as an Enhanced Joint Law Venture, Duane Morris will strengthen its capabilities, access and presence in Asia through Selvam’s top-ranked corporate practice, and Selvam will be able to leverage Duane Morris’ full scope across four countries and 20 U.S. cities. The new venture will operate in Singapore as Duane Morris & Selvam LLP.

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Tags:  Duane Morris LLP | Singapore

Milbank Represents Lenders in Financing of Two 40 MW Hydropower Plants in Chile

The international law firm Milbank, Tweed, Hadley & McCloy LLP, led by Global Project Finance partner Dan Bartfeld, represented BBVA, Banco Espírito Santo de Angola, Crédit Agricole and WestLB in the financing of two 40 MW run-of-the-river hydroelectric power plants to be owned and operated by Chilean renewable power firm HydroChile. The power generated from the projects will be sold in part to Chilean utilities AES Gener and Chilectra under long-term power purchase agreements.“The successful financing of these plants demonstrates the continued strength of the renewable energy sector to attract new capital,” commented Mr. Bartfeld. He further noted that “These projects show that well-structured projects continue to attract capital from the leading project finance banks — a trend we expect to continue in 2011.”

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Davis Polk Advises CVS Caremark on Its Acquisition of Universal American’s Medicare Part D Business

Davis Polk is advising CVS Caremark Corporation on its approximately $1.25 billion acquisition of the Medicare Part D business of Universal American Corp. Upon completion of the transaction, CVS Caremark will become one of the nation’s largest providers of prescription drug services for Medicare beneficiaries enrolled in Medicare Part D. The transaction, which is expected to close by the end of the second quarter, is subject to customary closing conditions, including necessary regulatory approvals. 

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Tags:  Davis Polk & Wardwell LLP

Davis Polk – El Paso Corporation Debt Tender Offers

Davis Polk advised Citigroup Global Markets Inc. and RBC Capital Markets, LLC as dealer managers in connection with tender offers for seven series of outstanding notes issued by El Paso Corporation. The aggregate amount of the consideration paid for the notes accepted for purchase was approximately $800 million. 

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Tags:  Davis Polk & Wardwell LLP

Nelson Mullins Team Assists in Ericsson-Optimi Deal

An Atlanta-based team of Nelson Mullins Riley & Scarborough attorneys recently represented Optimi, a U.S.-Spanish telecommunications vendor of networks optimization and management products and services, in its sale to Ericsson, a world-leading provider of telecommunications equipment and related services to mobile and fixed network operators globally.

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Tags:  Nelson Mullins Riley & Scarborough LLP