Ropes & Gray Advises on Towergate Restructuring and Acquisition of Majority Stake by Unsecured Noteholders

Ropes & Gray has advised the ad hoc committee of holders of Towergate Finance plc’s New York law-governed 10.5% senior unsecured notes in connection with the restructuring of the Towergate Group’s c. £1.05bn debt obligations and related acquisition by senior unsecured noteholders of more than 80% of the equity of the restructured Group. The members of the ad hoc committee were Highbridge Principal Strategies, LLC, KKR Credit Advisors (US) LLC and Sankaty Advisors, LLC. Towergate is Europe’s largest independently owned insurance intermediary More >>

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Cadwalader Adds U.S. Attorney Anne Tompkins to its White Collar Defense and Investigations Practice

Cadwalader, Wickersham & Taft LLP (Cadwalader), a leading counselor to global corporations and financial institutions, today announced that Anne M. Tompkins, former U.S. Attorney for the Western District of North Carolina, will join the Firm as partner. She will work alongside Cadwalader’s White Collar Defense and Investigations Practice Chair Kenneth Wainstein, also a former U.S. Attorney, and his pre-eminent white collar team. More >>

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Dechert Advises Kofax Limited on US$1 Billion Sale to Lexmark International

Dechert LLP advised Kofax Limited on a merger agreement in which Lexmark will acquire Kofax. Under the terms of the merger agreement, Lexmark will acquire all of the outstanding shares of Kofax for US$11.00 per share in cash for a total enterprise value of approximately US$1 billion, net of cash acquired. The acquisition is expected to close in the second quarter of 2015 and is contingent on Kofax shareholder approval, applicable regulatory clearances and other customary closing conditions. More >>

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Hogan Lovells Advises Optimal Payments Plc on €1.1 Billion Transformational Skrill Acquisition

Hogan Lovells has advised Optimal Payments Plc on the €1.1 billion acquisition of Sentinel Topco Limited and its subsidiaries (Skrill Group) from Sentinel Group Holdings S.A, which is ultimately majority owned by funds managed and advised by CVC Capital Partners SICAV-FIS S.A. and Investcorp Technology Partners. The transformational transaction, announced today, will in part be funded by a fully underwritten rights issue raising gross proceeds of approximately £451 million and new debt facilities of €500 million. More >>

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Chadbourne Advises on the US$776 Million Financing of the Rabigh Independent Water Steam and Power Plant Expansion

Chadbourne & Parke LLP advised the Rabigh Arabian Water and Electricity Company and its sponsors (Arabian Company for Water and Power Projects, JGC Corporation and Marubeni Corporation) in relation to the US$776 million financing of the expansion of its independent water steam and power plant located on the Red Sea coast of Saudi Arabia. Financial close was achieved on 16 March 2015. More >>

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