Kirkland Advises CHS Capital and Royall & Company in Sale of Royall & Company to Advisory Board Company

Kirkland & Ellis LLP advised CHS Capital and Royall & Company in the sale of Royall & Company, the higher education industry leader in strategic, data-driven student engagement and enrollment management solutions, to the Advisory Board Company (NASDAQ: ABCO), a global, insight-driven technology, research, and services provider. Under the terms of the agreement, the Advisory Board will purchase Royall for $850 million, consisting of $750 million in cash and $100 million in Advisory Board stock. More >>

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Freshfields advises on US$1.17bn PICC P&C rights issue

International law firm Freshfields Bruckhaus Deringer has advised the underwriters on the US$1.17bn rights issue of PICC Property and Casualty Company Limited (PICC P&C).

PICC P&C, the Chinese state-controlled and China’s leading non-life insurer, has issued around 397.8m H-shares at HK$7.46 per share and 844.6m domestic shares at RMB5.92 per share. PICC P&C has raised a total of RMB7.24bn (US$1.17bn) from the rights issue. More >>

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Paul Hastings Represents Real Estate Capital Asia Partners IV in the Formation of $850 Million Fund

Paul Hastings LLP, a leading global law firm, announced today that the firm represented Real Estate Capital Asia Partners IV and its investment manager, SC Investment Management Pte. Ltd., in the formation of an $850 million private investment fund that will focus on real estate investment opportunities across the Asia Pacific region. The Fund held its final closing on December 5, 2014, raising capital from a diverse institutional investor base including, among others, public and private pension funds, endowments and private foundations. Paul Hastings also represented the Fund in establishing a $150 million subscription line credit facility. More >>

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Latham & Watkins Advises Pertamina in the Signing of MOUs with Chinese, Japanese and Saudi Energy Firms for US$25 Billion Refinery Upgrade and Expansion Project

Latham & Watkins has advised PT Pertamina (Persero) in the signing of a series of Memorandum of Understanding (MOU) for the upgrade and expansion of five refinery facilities in Indonesia at an estimated cost of approximately US$25 billion. The MOUs were signed with Saudi Aramco, China Petroleum and Chemical Corp (Sinopec), and JX Nippon Oil and include the redevelopment of the Cilicap, Balongan, Plaju, Dumai and Balikpapan refineries. More >>

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Albemarle Corporation’s €700 Million Debt Offering

Cravath represented the managers, led by BofA Merrill Lynch, J.P. Morgan Securities and Wells Fargo Securities, in connection with the €700 million Regulation S debt offering of Albemarle Corporation, a leading global developer, manufacturer and marketer of highly engineered specialty chemicals across a diverse range of end markets. The notes were listed on the Irish Stock Exchange. The transaction closed on December 8, 2014. More >>

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Simpson Thacher Represents Underwriters in Initial Public Offering of Neff Corporation

Simpson Thacher represented the underwriters, led by joint bookrunners Morgan Stanley & Co. LLC, Jefferies LLC, Piper Jaffray & Co. and Merrill Lynch, Pierce, Fenner & Smith Incorporated, and co-manager, Wells Fargo Securities, LLC, in the initial public offering by Neff Corporation (“Neff”) of an aggregate of 10,476,190 shares of its Class A common stock. Neff also granted the underwriters a 30-day option to purchase up to an additional 1,571,428 shares of Class A common stock to cover over-allotments. The offering raised aggregate net proceeds of approximately $146 million. Neff’s Class A common stock is listed on the New York Stock Exchange under the symbol “NEFF” and opened for trading on November 21, 2014. Neff intends to use the net proceeds of the offering primarily to repay outstanding indebtedness. More >>

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