Goodwin Advises Boston Properties on $1.5 Billion Sale of Interests in Boston and New York Properties

Goodwin Procter attorneys advised Boston Properties on its announced agreement to sell a 45% interest in each of three properties – 601 Lexington Avenue (New York City), Atlantic Wharf Office Building (Boston), and 100 Federal Street (Boston) – to affiliates of Norges Bank Investment Management for an aggregate, gross purchase price of approximately $1.5 billion. Boston Properties and an affiliate of Norges Bank Investment Management will form a joint venture for each property upon closing, and Boston Properties will retain property and leasing management for the ventures. The transaction is subject to customary closing conditions and is expected to close on or about October 31, 2014. More >>

Tags:  Goodwin Procter LLP | Boston | New York

London and Frankfurt Offices of Bingham McCutchen to Join Akin Gump

International law firm Akin Gump today announces that the London and Frankfurt offices of Bingham McCutchen, along with a group of partners from Bingham’s Hong Kong office, will join the firm. With this 22-partner expansion, Akin Gump will grow its London and Hong Kong offices markedly and will also open the firm’s first office in Germany. The move will be effective over the coming weeks.

The move will bring together Akin Gump’s financial restructuring practice in the United States, led by partners Daniel Golden, Ira Dizengoff, Fred Hodara and Mike Stamer, with the London-based leaders of Bingham’s financial restructuring group, partners James Roome, Barry Russell and James Terry. The combination cements Akin Gump’s reputation as the home of a top-tier global financial restructuring practice and adds substantial depth to the firm’s corporate, finance, disputes, regulatory and tax practices while significantly increasing the firm’s international footprint.

The firm further expects to welcome a number of additional attorneys from Bingham soon in London, Hong Kong and Frankfurt. More >>

Tags:  Akin Gump Strauss Hauer & Feld LLP | Frankfurt | Hong Kong | London

Kirkland & Ellis Represents TriZetto in $2.7 Billion Sale to Cognizant Technology Solutions

Kirkland & Ellis LLP advises The TriZetto Corporation, a provider of world-class healthcare information technology and service solutions owned by Apax Partners, which announced today that it has agreed to sell its majority ownership stake of TriZetto to Cognizant Technology Solutions Corp. for $2.7 billion in cash. The transaction is subject to customary closing conditions and regulatory approvals and is expected to close during the fourth quarter of 2014. The Kirkland team was led by corporate partners Leo Greenberg and Srinivas Kaushik and associate John Kupiec, and included tax partners Patrick Gallagher and Sara Zablotney, and tax and corporate associates Vin Thorn, Solomon Eskinazi and Laura Brockelman. More >>

Tags:  Kirkland & Ellis LLP | New York

TRW Automotive’s Proposed $13.5 Billion Sale to ZF

Simpson Thacher is representing TRW Automotive Holdings Corp. (NYSE: TRW) in connection with its proposed sale to ZF Friedrichshafen AG (“ZF”). Under the terms of the transaction, ZF will acquire all of the outstanding shares of TRW for $105.60 per share in an all-cash transaction valued at approximately $13.5 billion on an enterprise value basis. The transaction, which is expected to close in the first half of 2015, is subject to stockholder and regulatory approvals and other customary closing conditions. More >>

Tags:  New York

Cahill Represents Initial Purchasers in $1.2 Billion Notes Offering by 21st Century Fox

Cahill represented J.P. Morgan Securities as lead book-running manager and the other book-runners in connection with the Rule 144A offering of $600,000,000 aggregate principal amount of 3.7% Senior Notes due 2024 and $600,000,000 aggregate principal amount of 4.75% Senior Notes due 2044, by 21st Century Fox America, Inc., a subsidiary of Twenty-First Century Fox, Inc. Proceeds were used for general corporate purposes. More >>

Tags:  Cahill Gordon & Reindel LLP | New York

Province of Ontario $2 Billion Global Bond Offering

Davis Polk advised underwriters represented by Barclays Bank PLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley & Co. International plc and TD Securities (USA) LLC in connection with the offering of $2 billion aggregate principal amount of 2.5% bonds due September 10, 2021, issued by the Province of Ontario. More >>

Tags:  Ontario

Paul Hastings Advises China Rongsheng’s US$281 Million Acquisition in Kyrgyzstan Company

Paul Hastings, a leading global law firm, announced today that the firm advised China Rongsheng Heavy Industries Group Holdings Limited (“China Rongsheng”) in relation to the acquisition of a 60% equity interest in Central Point Worldwide Inc. (“Central Point”) by its indirectly wholly-owned subsidiary, Ocean Sino Holdings Limited.

The consideration for the acquisition is HK$2.184 billion (US$281 million), which is satisfied by the allotment and issuance of 1,400,000,000 shares by China Rongsheng. More >>

Tags:  Paul Hastings, LLP | Hong Kong

Mayer Brown represents ArcelorMittal and Gerdau in $770M sale of Gallatin Steel Company to Nucor Corporation

Mayer Brown represented multinational steel manufacturing corporations ArcelorMittal and Gerdau in the sale of their respective 50% interests in Gallatin Steel Company to Nucor Corporation for $770 million. Kentucky-based Gallatin Steel Company is a flat rolled mini-mill that melts scrap, pig iron and hot briquetted iron from various sources and processes the material to produce flat rolled steel. More >>

Tags:  Mayer Brown LLP | Chicago

Milbank Acts on Highly Successful US$ Reopening of High Yield Notes for Philippine Property Developer

The international law firm Milbank, Tweed, Hadley & McCloy has recently advised on the successful reopening of notes by the Vista Land group. Milbank advised DBS Bank Ltd. (DBS), as international underwriter, on the US$125 million reopening of 7.45% Guaranteed Notes due 2019 (the Notes) by VLL International, Inc., a subsidiary of Vista Land & Lifescapes, Inc. (Vista Land), one of the largest residential property developers in the Philippines. The Notes were unconditionally guaranteed by Vista Land and other subsidiaries of the Vista Land group. More >>

Tags:  Milbank LLP | Hong Kong