Herbert Smith Freehills has advised UGL Limited (ASX:UGL) on the completion of the sale of its global property services business, DTZ, to a consortium comprising TPG Asia, Inc, PAG Asia Capital and Ontario Teachers’ Pension Plan (together TPG and Partners) for A$1.215 billion. The deal was signed on 14 June 2014 and closed on 5 November 2014. More >>
Tags: Herbert Smith Freehills Kramer LLP | Brisbane | Sydney
Covington & Burling represented UCB in connection with its agreement to sell Kremers Urban Pharmaceuticals Inc., a U.S.-based subsidiary, to Advent International and Avista Capital Partners. UCB will receive gross cash proceeds of $1.525 billion upon closing. More >>
Tags: Covington & Burling LLP | New YorkLaboratory Corporation of America® Holdings (LabCorp®) and Covance Inc. announced that they have entered into a definitive agreement under which LabCorp will acquire Covance for cash and LabCorp shares currently valued at $105.12 per Covance share, or an equity value of approximately $6.1 billion. Cravath represented Covance in this transaction. The combination will create the world’s leading healthcare diagnostics company. The transaction is expected to close in the first quarter of 2015 and is subject to Covance shareholder approval, regulatory approvals and customary closing conditions. More >>
Tags: New YorkDavis Polk advised Deutsche Bank Securities Inc., Goldman, Sachs & Co., Merrill Lynch, Pierce, Fenner & Smith Incorporated and Morgan Stanley & Co. LLC as representatives of the underwriters in connection with the $2.3 billion secondary offering of 90,000,000 shares of common stock of Hilton Worldwide Holdings Inc. by certain selling stockholders affiliated with The Blackstone Group L.P. Hilton’s common stock is traded on the New York Stock Exchange under the symbol “HLT.” More >>
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Davis Polk is advising China International Capital Corporation Hong Kong Securities Limited and Merrill Lynch Far East Limited as joint placing agents on the HK$3.139 billion (approximately US$405 million) placing of H shares by Huaneng Power International, Inc. More >>
Tags: Davis Polk & Wardwell LLP | Hong Kong
Skadden is advising Colony Capital, LLC in its nonbinding agreement with Colony Financial, Inc. (CLNY) for a potential $657.5 million contribution to CLNY of substantially all of Colony Capital’s real estate and investment management businesses and operations. The transaction was announced November 4.
Tags: Skadden, Arps, Slate, Meagher & Flom LLPSimpson Thacher is representing NewStar Financial in connection with an investment by three Franklin Square business development companies (which are advised by GSO Capital) in $300 million of NewStar subordinated notes and warrants to purchase approximately 20% of NewStar’s common stock. The transaction is scheduled to close in stages, beginning at the end of this year and continuing through 2015. Issuance of a portion of the warrants is subject to approval by NewStar’s stockholders at a special meeting expected to be held within the next few months. More >>
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Goodwin Procter recently advised Hampden Bancorp, Inc. in connection with the signing of a definitive agreement pursuant to which Berkshire Hills Bancorp, Inc. will acquire Hampden. The transaction, valued at approximately $109 million, is expected to close in the second quarter of 2015. Under the terms of the merger agreement, shares of Hampden common stock will be exchanged for .81 shares of Berkshire Hills common stock. Berkshire Hill’s total assets will increase to $7.1 billion, including $706 million of assets acquired from Hampden Bank. More >>
Tags: Goodwin Procter LLP | Boston
Leading international law firm Freshfields Bruckhaus Deringer is advising Columbus International Inc and its shareholders on the sale of Columbus to Cable & Wireless Communications plc.
Columbus is a privately-owned diversified telecommunications company with operations in the Caribbean, Central America and the Andean region.
Cable & Wireless has agreed to pay approximately USD1.85bn for Columbus and will also assume Columbus’s existing net debt of approximately USD1.17bn. The consideration will be settled through the payment of cash and the issue of new ordinary shares in Cable & Wireless to certain Columbus shareholders. Completion is expected to take place in Q1 of 2015 and is conditional on certain regulatory approvals as well as Cable & Wireless shareholder approval. More >>
Tags: Freshfields LLP