Ballard Spahr Helps Clients Close $2 Billion in Real Estate Deals

Philadelphia is growing. And, this summer, real estate attorneys at Ballard Spahr helped clients launch three projects that will transform three dynamic sections of the City: The Comcast Innovation & Technology Center at 18th and Arch Streets, a major mixed-use development in University City by Drexel University and Wexford Science + Technology, and Rodin Group’s Whole Foods/mid-rise multifamily project in the Benjamin Franklin Parkway district.
“These projects make an extraordinary mark, both in generating economic development and in promoting the urban experience in Philadelphia neighborhoods,” said Bart I. Mellits, Chair of Ballard Spahr’s Real Estate Department. “Together, the projects will generate thousands of permanent jobs in the City and make it a more vibrant place to live and work.”

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Bracewell Represents Duke Energy in the $2.8 Billion Sale of its Midwest Commercial Generation Business to Dynegy

Bracewell & Giuliani LLP is representing Duke Energy, the largest electric power holding company in the U.S., with the sale of its competitive Midwest generation business to Dynegy for $2.8 billion in cash. This transaction includes ownership interests in 11 power plants, principally fueled by coal or natural gas, and Duke Energy Retail Sales, the company’s competitive electric and gas retail business.

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Colin Ng & Partners LLP acted for Bel Fuse Inc. on the acquisition of Power-One Pte. Ltd

Colin Ng & Partners LLP (“CNP”) acted for Bel Fuse Inc. (“Bel Fuse”), a corporation primarily engaged in the design, manufacture, and sale of products used in networking, telecommunications, high speed data transmission, commercial aerospace, military, transportation, and consumer electronics, on the acquisition of the Power One Solutions business from ABB, which included 100% of the shareholding in the Singapore subsidiary Power-One Pte. Ltd. The transaction is part of Bel Fuse’s plan to further develop their power business.

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InterMune’s $8.9 Billion Acquisition by Roche

Roche and InterMune, Inc. announced they have entered into a definitive merger agreement for Roche to acquire InterMune at a price of US$74.00 per share in an all‑cash transaction with a total equity value of US$8.9 billion. This offer represents a premium of 38% to InterMune’s closing price on August 22, 2014, and a premium of 63% to InterMune’s unaffected closing price on August 12, 2014. Cravath represented InterMune in connection with this transaction, which has been approved by the boards of InterMune and Roche and is expected to close in 2014.

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The Southern Company $750 Million Aggregate Principal Amount of Senior Notes Offerings

Hunton & Williams LLP advised Barclays Capital Inc., Citigroup Global Markets Inc., J.P. Morgan Securities LLC and UBS Securities LLC, as representatives of underwriters on SEC-registered offerings by The Southern Company (“Southern”) of $400 million aggregate principal amount of its senior notes due 2017 and $350 million aggregate principal amount of its senior notes due 2019.

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Miles & Stockbridge Represents Ventura Solutions in Sale to Boeing

Miles & Stockbridge recently represented client Ventura Solutions, Inc. in its sale to Boeing [NYSE: BA]. Ventura Solutions, which is based in Annapolis Junction, Maryland, with approximately 140 employees, is a hardware and software engineering company that provides custom solutions for government customers. Its acquisition enhances Boeing’s information and security capabilities. Ventura Solutions is now part of Boeing Network & Space Systems.

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Paul Hastings Represents Klister LLC in its acquisition of Minimax Viking GmbH

Paul Hastings LLP, a leading global law firm, announced today that the firm represented Klister LLC on its acquisition of Minimax Viking GmbH, a global fire protection company with over $1.6 billion of revenue and 7,000 employees.  Klister acquired Minimax Viking as part of a consortium of buyers that included asset manager Intermediate Capital Group and Kirkbi A/S, a Danish investment company.
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Clifford Chance Advises On OCBC’s S$3.37 Billion Rights Issue

Leading international law firm Clifford Chance has advised the joint global coordinators, Merrill Lynch (Singapore) Pte. Ltd., the Hongkong and Shanghai Banking Corporation Limited, Singapore Branch and J.P. Morgan (S.E.A.) Limited, as the joint lead managers and underwriters on Oversea-Chinese Banking Corporation Limited’s (OCBC) renounceable rights issue of up to 440,047,710 rights shares at an issue price of S$7.65 totalling S$3.37 billion (US$ 2.7 billion).

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