The Firm represented JPMorgan Chase Bank, N.A. and the Bank of Montreal in connection with $1.35 billion of committed financing to Darling International Inc. (NYSE: DAR) in its completed acquisition of Rothsay, the rendering and biodiesel division of Maple Leaf Foods Inc., for CAD $645 million.
The Firm is also representing Goldman Sachs Bank USA, JPMorgan Chase Bank, N.A. and Bank of Montreal in an additional $2.5 billion of committed financing to Darling for its announced acquisition of Vion Ingredients, a division of Vion Holding N.V. for €1.6 billion in cash.
Additionally, in connection with the Vion financing the firm is representing JPMorgan Chase Bank, N.A. and Bank of Montreal in backstopping the $1.35 billion facilities put in place in connection with the Rothsay acquisition.
The Vion acquisition is expected to close in January 2014, subject to customary regulatory approvals and finalization of the required employee consultations in the Netherlands.
Based in Irving, Texas, Darling International Inc. is a leading provider of rendering, recycling and recovery solutions to the nation’s food industry. Rothsay, based in Canada, is a recycler of animal by-products in Canada and provides services for collecting, processing and recapturing of edible and inedible by-products. Vion Ingredients, headquartered in the Netherlands, is a worldwide leader in the development and production of specialty ingredients from animal origin for applications in pharmaceuticals, food, feed, pet food, fertilizer and bio-energy, and is a member of the Vion Food Group, a global food company headquartered in the Netherlands.
The Simpson Thacher team for the financing includes Justin Lungstrum, Dan Kay and Sheri Nentin (Banking and Credit); Rhett Brandon, Patrick Baron and Kim de Glossop (Capital Markets); Edward Chung (M&A); David Rubinsky (ECEB); and Rob Holo and Jodi Sackel (Tax).
