Global legal practice Norton Rose Fulbright has advised on the £1.35 billion financing for Phase 2 and Phase 3 of Battersea Power Station, one of the largest UK real estate financing transactions to take place in recent years. More >>
Tags: Norton Rose Fulbright | London
Morgan Lewis today voted to admit 227 partners from Bingham McCutchen as partners in Morgan Lewis. With the addition of these partners, Morgan Lewis will be one of the largest firms in the world, and will offer clients global access to broad capabilities across a comprehensive spectrum of services and industries addressing virtually every aspect of corporate operations. More >>
Tags: Morgan, Lewis & Bockius LLP | New York
Milbank, Tweed, Hadley & McCloy LLP recently advised JSW Steel Limited, one of India’s leading steel producers, on its debut international bond offering of 4.75% Notes due 2019. Citigroup, Australia and New Zealand Banking Group Limited, Credit Suisse, Deutsche Bank and Standard Chartered Bank served as Joint Lead Managers and Joint Bookrunners for the issue. More >>
Tags: Milbank LLP | Hong KongActavis plc and Allergan, Inc. have announced a definitive agreement under which Actavis will acquire Allergan in a cash and stock transaction valued at approximately $66 billion. The combination will create one of the top 10 global pharmaceutical companies by sales revenue, with combined annual pro forma revenues of more than $23 billion anticipated in 2015. The transaction, which has been unanimously approved by the Boards of Directors of Actavis and Allergan, is subject to the approval of the shareholders of both companies, as well as customary antitrust clearance in the US, the EU and certain other jurisdictions, and is anticipated to close in the second quarter of 2015. More >>
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King & Spalding advised Oregon Clean Energy, LLC in the development of a contract for the engineering, procurement and construction of a greenfield 860 megawatt combined-cycle natural gas-fired generation facility in the Toledo, Ohio, suburb of Oregon. The financing for the transaction and the full notice to proceed under the contract occurred on November 14. The dollar amount of the transaction was not disclosed. More >>
Tags: King & Spalding LLP | Houston
Covington is advising Indivior, formerly RB Pharmaceuticals, in the demerger transaction announced today from Reckitt Benckiser, a global consumer products company. The demerger is subject to the approval of RB shareholders. More >>
Tags: Covington & Burling LLP | LondonBaker Botts lawyers represent Halliburton in one of the largest energy deals of 2014.
Under the deal, Halliburton will acquire all the outstanding shares of Baker Hughes in a stock and cash transaction. The transaction is valued at $78.62 per Baker Hughes share, representing an equity value of $34.6 billion and enterprise value of $38.0 billion, based on Halliburton’s closing price on November 12, 2014, the day prior to public confirmation by Baker Hughes that it was in talks with Halliburton regarding a transaction. Upon the completion of the transaction, Baker Hughes stockholders will own approximately 36 percent of the combined company. More >>
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Akin Gump advised Virgin America Inc. shareholder Cyrus Capital Partners in the initial public offering of the airline’s stock, which began trading today on the New York Stock Exchange. Cyrus controls VAI Partners, one of Virgin America’s biggest shareholders. At an offering price of $23 per share, the IPO raised approximately $306 million, meeting expectations. More >>
Tags: Akin Gump Strauss Hauer & Feld LLP | New YorkMilbank, Tweed, Hadley & McCloy LLP recently advised JSW Steel Limited, one of India’s leading steel producers, on its debut international bond offering of 4.75% Notes due 2019. Citigroup, Australia and New Zealand Banking Group Limited, Credit Suisse, Deutsche Bank and Standard Chartered Bank served as Joint Lead Managers and Joint Bookrunners for the issue. More >>
Tags: Milbank LLP | Hong KongJones Day is advising The Procter & Gamble Company (“P&G”) in the sale of its Duracell personal power business to Berkshire Hathaway Inc. for $2.9 billion. Following the sale of P&G’s interest in its Nanfu joint venture, which operated P&G’s battery business in China, P&G entered into a Transaction Agreement on November 13, 2014 with Berkshire Hathaway Inc. and certain of its affiliates under which P&G will transfer its Duracell business to Berkshire Hathaway in a private split-off transaction. In this unusual tax-free structure (sometimes referred to as a “cash rich private split”), P&G will convey its Duracell business (which will be infused with $1.8 billion in additional cash) to a newly formed subsidiary (SplitCo) and will exchange its shares in SplitCo for approximately $4.7 billion of outstanding P&G shares currently held by the Berkshire Hathaway group. The transaction is expected to close in the second half of calendar year 2015. More >>
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