Eversheds advises management of Paroc Group on €700 million sale

Monday, October 27, 2014

Law firm Eversheds has advised the management team of Paroc Group on its acquisition by CVC Capital Partners, for an Enterprise Value of approximately €700 million.

Headquartered in Helsinki, Paroc is the leading producer of stone wool insulation in the Nordic and Baltic regions, producing building insulation and technical insulation for the residential and commercial construction markets, as well as various industrial applications. The group has approximately 2,100 employees, a pan-European sales presence, supported by 9 production facilities in Finland, Sweden, Lithuania, Poland and Russia. More >>

Tags:  Eversheds Sutherland | Helsinki

Goodwin Represents AeroCare in Merger with MergeWorthRx

Monday, October 27, 2014

Goodwin Procter recently advised AeroCare Holdings Inc. in its announced all-stock merger with MergeWorthRx Corp. According to the terms of the agreement, AeroCare will become a public company upon completion of the transaction and its existing stockholders will own 53% of the post-merger company. The deal is expected to close in the fourth quarter of 2014. Additional information can be found in the MergeWorthRx press release. More >>

Tags:  Goodwin Procter LLP | Boston | New York

McGuireWoods Advises Tesoro Logistics in $2.5 Billion Acquisition of QEP Resources’ Midstream Business

Monday, October 27, 2014

McGuireWoods lawyers from the firm’s Houston and Chicago offices advised Tesoro Logistics LP in its $2.5 billion acquisition of QEP Resources Inc.’s natural gas pipeline and processing business, the latest in a series of major asset acquisitions McGuireWoods has negotiated for the Fortune 100 energy company.

Tesoro Logistics is an affiliate Tesoro Corp., which operates six petroleum refineries in the western United States with a combined capacity of more than 850,000 barrels per day. Its acquisition of QEP Field Services includes strategically located, high-quality natural gas pipelines and processing facilities in the Rockies, the Uinta Basin and North Dakota. The acquisition of QEP Field Services will enable Tesoro Logistics to offer integrated crude oil and natural gas services throughout its geographic footprint. The transaction is expected to close in the fourth quarter of 2014 and is subject to regulatory approval. More >>

Tags:  McGuireWoods LLP | Chicago | Houston

Baker Botts Represents Williams Partners (WPZ) in $50 Billion Merger with Access Midstream Partners (ACMP)

Monday, October 27, 2014

Earlier today, The Williams Companies, Inc. (NYSE: WMB), Williams Partners L.P. (NYSE: WPZ) and Access Midstream Partners, L.P. (NYSE: ACMP) announced that Williams Partners and Access Midstream Partners have entered into a merger agreement to combine the two master limited partnerships in a transaction valued at approximately $50 billion. The merger would create a premier large-cap MLP with expected 2015 adjusted EBITDA of approximately $5 billion and expected 10% to 12% annual distribution growth through the 2017 guidance period. More >>

Tags:  Baker Botts L.L.P. | Houston

Simpson Thacher Represents Underwriters in $500 Million Debt Offering by Wal-Mart

Friday, October 24, 2014

The Firm recently represented Citigroup Global Markets Inc., Goldman, Sachs & Co., J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, RBS Securities Inc. and other underwriters in connection with a $500 million offering of debt securities by Wal-Mart Stores, Inc. The offering closed on October 22, 2014. More >>

Tags:  Simpson Thacher & Bartlett LLP | New York

WFW advises ING Bank on US$340 million loan facility for Euronav

Thursday, October 23, 2014

Watson, Farley & Williams (“WFW”), a leading international law firm, is pleased to announce that it has advised ING Bank N.V. (“ING”) as sole bookrunner and facility agent for a syndicate of banks on a US$340 million loan facility made available to Euronav NV (“Euronav”).

The facility is comprised of a US$192m term loan facility and a revolving credit facility of up to US$148m. Euronav plans to use the funds to refinance four Suezmax tanker vessels, finance the acquisition of four very large crude carrier tankers from Maersk and for general corporate purposes. The ships financed under the facility are registered on Belgian, Greek and French flags. More >>

Tags:  Watson Farley & Williams LLP | London

Simpson Thacher Represents Deutsche Bank, Crédit Agricole, J.P. Morgan, Merrill Lynch and The Royal Bank of Scotland in US$500 Million Debt Offering by Korea Land & Housing Corporation

Thursday, October 23, 2014

The Firm recently represented Deutsche Bank, Crédit Agricole, J.P. Morgan, Merrill Lynch and The Royal Bank of Scotland as underwriters’ counsel (and sole international counsel) in connection with the offering by Korea Land & Housing Corporation of its US$500 million 1.875% Senior Unsecured Notes due August 2, 2017, issued under its US$1 billion Global Medium Term Notes Program (the “Program”). The offering was conducted in reliance upon Rule 144A and Regulation S under the Securities Act of 1933, as amended. The Firm also recently acted as dealers’ counsel (and sole international counsel) in the establishment of the Program, where Deutsche Bank acted as the arranger. More >>

Tags:  Simpson Thacher & Bartlett LLP | Seoul