Shearman & Sterling is representing Gambro AB, jointly controlled by Investor AB (49%) and EQT IV (51%), in its agreement to sell CaridianBCT to the Japanese medical technology company Terumo Corporation for a total enterprise value of US $2.625 billion. The transaction is subject to approval from the relevant competition authorities.

Norton Rose Australia today announced the launch of an association with the Indonesian legal practice Susandarini & Partners in Jakarta. Susandarini & Partners is led by partner Susandarini, a recognised leading commercial lawyer, who has over 17 years experience advising clients in the Indonesian legal market.

Resource Capital Corporation (RSO) has announced that it has completed its purchase of 100 percent of the ownership interests in Churchill Pacific Asset Management LLC (CPAM) from Churchill Financial Holdings LLC. CPAM is the collateral manager to five Collateralized Loan Obligations (CLOs) totaling approximately $1.9 billion in assets. Covington & Burling LLP advised RSO on the deal. 

The London antitrust, regulatory and competition team at international legal practice Norton Rose LLP has been successful in preventing its client PayPoint plc from being subjected to anti-competitive practices by the National Lottery operator Camelot.

Shearman & Sterling represented Francisco Partners in its sale of AdvancedMD Software, Inc. to Automatic Data Processing, Inc. (ADP). Terms of the transaction were not disclosed.

Davis Polk advised Telefónica, S.A. and Telefónica Emisiones, S.A.U. on the SEC-registered $2.75 billion aggregate principal amount off-the-shelf note offering by Telefónica Emisiones, S.A.U., fully guaranteed by Telefónica, S.A. The offering consisted of $1.25 billion principal amount of 3.992% senior notes due 2016 and $1.5 billion principal amount of 5.462% senior notes due 2021. 

On March 1, 2011, Judge Richard Seeborg of the U.S. District Court for the Northern District of California granted defendants’ motions and dismissed all claims in the securities class action litigation including claims relating to the paired April 29, 2009 public offerings of SunPower Corporation’s Class A Common Stock shares and 4.75% Senior Convertible Debentures due 2014. The order is Plichta v. SunPower Corp., Lead Case No. C 90-5473 RS (N.D. Cal. Mar. 1, 2011).

The Firm is leading the representation of PPL Corporation and its UK subsidiaries in their acquisition of the Central Networks electricity distribution business from E.ON UK plc.  PPL, through its U.K. subsidiaries, is acquiring Central Networks for approximately £3.5 billion ($5.6 billion) in cash with £500 million ($800 million) of existing public debt to remain outstanding after completion of the transaction.  PPL and E.ON expect to close the transaction in early April.  In addition, the firm assisted PPL in connection with arranging a committed bridge facility in the approximate amount of $5.8 billion from Bank of America Merrill Lynch and Credit Suisse to be used as a temporary financing facility pending the execution of permanent financing.  PPL currently intends to permanently finance the transaction through a combination of the proceeds of security issuances in the US and debt issuances in the UK.  This challenging UK transaction, funded by a financing facility arranged in the US, was led by the firm’s London office.