Global law firm White & Case LLP has advised J.P. Morgan and Nomura, acting as global coordinators and bookrunners, on the £725 million senior debt financing package for the Bestway Group’s £620 million acquisition of the Co-operative Group’s Pharmacy business. More >>
Tags: White & Case LLP | LondonSimpson Thatcher is representing Melrose Industries PLC, a UK-based FTSE 250 company, on the sale of Bridon Limited (“Bridon”) to Ontario Teachers’ Pension Plan Board for an enterprise value of £365 million, on a debt and cash-free basis, subject to customary adjustments.
Bridon designs and manufactures a comprehensive range of lifting and stabilising solutions for applications in wire rope, fibre rope, steel wire and strand. Bridon services global customers in the oil & gas, mining, industrial, marine and infrastructure sectors.
The sale was announced on October 11, 2014 and is conditional upon, amongst other things, obtaining anti‐trust clearances, and is targeted for completion during 2014.
The Simpson Thacher team for the transaction included Adam Signy, Tom Merrifield and Aled Knights (Corporate); Euan Gorrie and Manas Chandrashekar (Credit); and David Vann, Étienne Renaudeau and Tara Kelly (Competition-M&A ).
Tags: London
The Republic of Kazakhstan has today closed a $2.5 billion Eurobond offering.
The offering was made under Rule 144A and Regulation S, and the bonds are listed on the London Stock Exchange. The bonds were issued in two tranches, a $1.5 billion tranche of 3.875% Notes due 2024 and a $1 billion tranche of 4.875% Notes due 2044. More >>
Tags: Morgan, Lewis & Bockius LLP | Almaty | London
Shearman & Sterling represented InRetail Consumer, a Peruvian trust, along with its subsidiaries, in connection with (1) its issuance of US$300,000,000 aggregate principal amount of 5.250% Senior Notes due 2021 and (2) its offer to purchase and consent solicitation for any and all of the outstanding 8.875% Senior Secured Notes due 2018 of Interproperties Retail Trust, a Cayman trust. More >>
Tags: Shearman & Sterling LLP | New York | San Francisco | WashingtonSkadden is representing Anbang Insurance Group (China) in its $1.95 billion acquisition of the iconic New York Waldorf Astoria Hotel from Hilton Worldwide. When completed, the sale will be the largest real estate acquisition to date by a Chinese company in the U.S. and the first real estate investment by Anbang outside of China.
Tags: New York
Covington & Burling advised the Special Conflicts Committee of the Board of Directors of Atlas Pipeline Partners in its $5.8 billion merger with Targa Resources Partners. More >>
Tags: Covington & Burling LLP | New YorkCravath represented the underwriters, led by Morgan Stanley, BofA Merrill Lynch, Wells Fargo Securities, Barclays, Citigroup, Credit Suisse and Deutsche Bank Securities, in connection with the US$850 million and US$525 million registered high‑yield senior debt offerings of United Rentals (North America) Inc. (URNA), the largest equipment rental company in the world at the time of the offering. URNA intends to use the net proceeds from these offerings to finance its acquisition of National Pump, a specialty pump and industrial equipment rental businesses, and refinance existing indebtedness. The offerings closed on March 26, 2014. More >>
Tags: New YorkDavis Polk advised underwriters represented by CIBC World Markets Inc., HSBC Securities (Canada) Inc., Merrill Lynch Canada Inc. and RBC Dominion Securities Inc. in connection with the offering of C$500 million aggregate principal amount of 1.75% bonds due October 9, 2018, issued by the Province of Ontario. The net proceeds of the bonds will be used for special environmental projects. This is the inaugural green bonds offering for the Province of Ontario. More >>
Tags: Dallas | Ontario
DLA Piper has advised Synergy Health plc (“Synergy”), a leading global supplier of outsourced services to healthcare providers and other customers concerned with health management, on its recommended combination with STERIS Corporation (“STERIS”), a major provider of infection prevention and other procedural products and services focussed primarily on healthcare, pharmaceutical and research markets. The transaction, which was announced this morning, values Synergy at $1.9 billion, and the combined group at $5.2 billion. More >>
Tags: DLA Piper | New York
Paul Hastings LLP, a leading global law firm, represented Ivanhoé Cambridge, the second largest pension fund in Canada, in the creation of a new partnership with Black Creek Group (Black Creek), a real estate private equity firm with extensive experience sponsoring real estate companies in Mexico.
Ivanhoé Cambridge, a real estate subsidiary of institutional fund manager Caisse de dépôt et placement du Québec, together with Black Creek, will invest in the development of mixed-use urban communities in the main cities of Mexico including Mexico City, Monterrey and Guadalajara through MIRA, Black Creek’s fully-integrated real estate and development platform in Mexico. Ivanhoé Cambridge intends to invest up to US$500 million in assets, as part of its strategy of developing a long-term active presence in growth markets. More >>
Tags: Paul Hastings, LLP | New York