Simpson Thacher represented First Reserve Management, L.P. (“First Reserve”) in the establishment of its second fund dedicated to investments in energy-related infrastructure businesses, First Reserve Energy Infrastructure Fund II, L.P. (“FREIF II”). FREIF II has been formed to make privately negotiated investments in a diversified portfolio of infrastructure assets or businesses related to the energy and natural resources industries. First Reserve has announced that FREIF II raised $2.5 billion of total commitments, double the size of its predecessor fund.

More >>

Shearman & Sterling represented Credit Suisse, ABN AMRO, BNP PARIBAS, Citigroup, J.P. Morgan and The Royal Bank of Scotland as initial purchasers, led by Credit Suisse as Sole Global Coordinator and Physical Bookrunner, in connection with the offering of €715 million in a combination of senior secured floating rate notes due 2019 and 6.25% senior secured fixed rate notes due 2019 (together, the “Senior Secured Notes”) issued by HEMA Bondco I B.V. (a wholly-owned subsidiary of Dutch Lion B.V., the parent of HEMA B.V. [“HEMA”]), and 8.50% senior notes due 2019 (the “Senior Notes”, and together with the Senior Secured Notes, the “Notes”) issued by HEMA Bondco II B.V. (a wholly-owned subsidiary of Dutch Lion B.V.). The net proceeds from the issue and sale of the Notes will be used to refinance existing debt obligations of HEMA and its subsidiaries. The Senior Secured Notes will be guaranteed on a senior basis by certain subsidiaries of HEMA, and the Senior Notes will be guaranteed on a senior subordinated basis by certain subsidiaries of HEMA. The offering, which was conducted pursuant to Rule 144A and Regulation S under the US Securities Act, closed on June 17, 2014.

More >>

Global law firm White & Case LLP has advised Commerzbank AG on the sale of its Tokyo-based subsidiary, Commerz Japan Real Estate Finance Corporation (CJREFC), to leading Asia-focused alternative investment manager PAG.

As part of the transaction, the primarily subordinated loans held by CJREFC, which total around €700 million, are being transferred to the buyer. The portfolio, acquired via PAG’s Secured Capital REP V and Pacific Alliance Special Situations funds, will be managed by PAG’s Tokyo-based Secured Capital Investment Management.
More >>

More >>

Herbert Smith Freehills has advised UGL Limited (UGL) on 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) at an enterprise value of A$1.215 billion, announced today.

As previously disclosed, UGL has undertaken a process to evaluate third party interest received in DTZ to determine whether a potential sale of the business is in the best interests of shareholders. Following completion of this process, the Board has determined to enter into a binding sale agreement with TPG and Partners.

More >>

The Priceline Group Inc. (NASDAQ: PCLN) and OpenTable, Inc. (NASDAQ: OPEN) have announced a definitive agreement whereby The Priceline Group will acquire OpenTable for $103 per share in an all cash transaction valued at $2.6 billion. The transaction will be effected through a tender offer and is expected to close in the 3rd quarter of 2014, subject to the satisfaction of customary closing conditions. OpenTable will continue to be headquartered in San Francisco, CA and will operate as an independent business led by its current management team within The Priceline Group.

More >>

Synairgen plc (LSE: SNG) has announced a global licence agreement with AstraZeneca for SNG001, a novel, inhaled interferon beta (IFN-beta) in clinical development for treating respiratory tract viral infections in patients with severe asthma and potentially other pulmonary diseases. SNG001 supports the immune system by correcting a deficiency which makes patients vulnerable to respiratory tract viral infections.

More >>

Matheson is advising Perella Weinberg Partners LP on its role as financial adviser to US medical device maker Medtronic, Inc. on its $42.9 billion acquisition of Dublin-based Covidien plc. The Matheson team is led by corporate partners Patrick Spicer and George Brady as well as Tim Scanlon, head of Matheson’s Financial Institutions Group, and banking partner Libby Garvey.
More >>

In its second large private equity high yield financing in the past month, Milbank, Tweed, Hadley & McCloy advised the initial purchasers in a $300 million high-yield notes offering, the proceeds of which were used to finance the acquisition of Hearthside Food Solutions by affiliates of Goldman Sachs PIA and Vestar Capital Partners.  The notes offering closed on May 13, 2014 and the acquisition closed on June 2, 2014.

More >>

Cravath represented the underwriters, led by Citigroup, Credit Suisse, Deutsche Bank Securities and RBS, in connection with the US$2.5 billion registered senior debt offering of Express Scripts Holding Company, the largest pharmacy benefit management company in the United States. The transaction closed on June 5, 2014.

More >>