The international law firm Clifford Chance advised IVG Immobilien AG on its capital increase against contribution in cash from authorised capital, excluding any pre-emptive rights. Deutsche Bank and UBS were the joint lead managers and joint book runners of the transaction. Since 16 February 2011, the news shares are quoted on the Frankfurt Stock Exchange in the prime standard segment. The emission volume is at around 90 million Euros.
Tags: Clifford Chance LLP Dewey & LeBoeuf Represents Raiffeisen Bank International On €490 Million Takeover of Polbank
Dewey & LeBoeuf LLP has advised Raiffeisen Bank International AG (RBI) on the €490 million acquisition of a 70% share in Polbank EFG (Polbank), the Polish banking business branch of the Greek bank EFG Eurobank Ergasias S.A. (EFG).
SNR Denton Advise on $517M Program to Develop a New Hybrid Airship for US Army
Simpson Thacher Represents ACE Cash Express in $350 Million Senior Secured Notes Offering, Related Tender Offer and Consent Solicitation and Amendment to Asset-Backed Revolving Credit Facility
Simpson Thacher represented ACE Cash Express, Inc. (“ACE Cash Express”), a portfolio company of JLL Partners, in connection with its Rule 144A and Regulation S offering of $350 million aggregate principal amount of 11% Senior Secured Notes due 2019. ACE Cash Express used a portion of the proceeds from the offering, along with cash on hand, to fund its cash tender offer for all of its outstanding $175 million 10.25% Senior Notes due 2014. ACE Cash Express used the remaining proceeds to repay a portion of its borrowings under its asset-backed revolving credit facility (“ABL Credit Facility”), repay in full and terminate its term loan and pay related fees and expenses.
Tags: Simpson Thacher & Bartlett LLP Simpson Thacher Represents Schnitzer Steel Industries, Inc. in $620 Million Senior Revolving Credit Facility
Simpson Thacher recently represented Schnitzer Steel Industries, Inc. (“Schnitzer Steel”), as the US Borrower, in connection with the five-year, US$620 million and Canadian $30 million revolving credit facility. Bank of America, N.A. acted as administrative agent, Wells Fargo Bank, N.A. acted as syndication agent, The Bank of Tokyo-Mitsubishi UFJ, Ltd. acted as documentation agent and Merrill Lynch, Pierce, Fenner & Smith Incorporated acted as sole lead arranger and sole book manager of the credit facility.
Tags: Simpson Thacher & Bartlett LLP Kaye Scholer Representing Emergency Medical Services Corporation in $3.2 Billion Merger
Kaye Scholer is representing Emergency Medical Services Corporation (“EMSC”) in its $3.2 billion acquisition by private equity firm, Clayton, Dubilier & Rice, LLC. EMSC, acquired in 2004 by the Canadian private equity firm Onex Corp. and its affiliates, is a leading provider of emergency medical services in the United States. EMSC operates two business units: American Medical Response, Inc., the leading provider of ambulance services in the United States, and EmCare Holdings Inc., a leading provider of outsourced physician services to healthcare facilities. The transaction is expected to close in the second quarter, subject to customary closing conditions, including regulatory approvals and approval by the company’s stockholders.
Tags: Arnold & Porter Kaye Scholer LLP MTO Secures Dismissal of $11.5 Million Arbitration Award
For client Citigroup Inc., MTO secured the dismissal of an $11.5 million arbitration award to actor Larry Hagman, who played J.R. Ewing on the hit TV show “Dallas.” California Superior Court Judge Michelle Rosenblatt dismissed the FINRA award February 9, on the grounds that one of the arbitrators did not disclose a conflict prior to his adjudicating the matter.
Bracewell & Giuliani Advises Kinder Morgan on IPO
Bracewell & Giuliani LLP advised Kinder Morgan, Inc. on its initial public offering of 95,466,600 shares, which began trading Friday on the New York Stock Exchange under the ticker symbol “KMI.” The offering constitutes a 13.5 percent interest in the company.
Tags: Bracewell LLP Eversheds Advises Ascometal on Hydro Power Plant Sale
The Paris office of International law firm Eversheds has advised steel producer Ascometal, the French subsidiary of the Lucchini Group, on the sale of four hydro power plants to the Swiss group BKW FMB Energy (BKW).
Tags: Eversheds Sutherland Andrews Kurth Represents Underwriters in Kinder Morgan IPO
The initial public offering for Houston-based oil and gas pipeline company Kinder Morgan, Inc. (NYSE: KMI) priced today at $2.9 billion (before the underwriters’ option to purchase additional shares), representing the largest private equity-backed IPO in U.S. history. The offering is scheduled to close early next week. Attorneys from the Houston, Austin, and Washington, D.C. offices of Andrews Kurth LLP represented underwriters Goldman Sachs and Barclays Capital in the record-setting deal.
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