Davis Polk is advising Morgan Stanley Senior Funding, Inc. and The Bank of Tokyo-Mitsubishi UFJ, Ltd., as joint lead arrangers and joint bookrunners for $1.2 billion of financing in connection with DigitalGlobe, Inc.’s acquisition of GeoEye, Inc. The financing consists of a $1.05 billion senior secured term loan facility and a $150 million senior secured revolving credit facility. The obligations under the facilities are guaranteed by certain of DigitalGlobe’s domestic subsidiaries and are secured by substantially all of the assets of DigitalGlobe and the guarantors. The acquisition is expected to close in 2013.
Tags: Davis Polk & Wardwell LLP | New YorkMonthly Archives: July 2012
Hogan Lovells Advises Daimler on Strategic Partnership with Motor Coach Industries
Hogan Lovells advised Daimler on the strategic partnership between Daimler Buses and Motor Coach Industries (MCI), including the sale of Daimler’s Setra-branded premium motor coach distribution business to MCI. In connection with the transaction, which closed on 29 June 2012, Daimler Buses received a minority ownership stake in MCI, and MCI became the exclusive North American distributor of the Setra S407 and S417 German-manufactured premium motor coaches.
Tags: Hogan Lovells | New YorkGoltsblat BLP Appoints Kyle Davis as Corporate/M&A Partner
Gordon Rees LLP Welcomes Ronald Hatcher
The Phoenix office of Gordon Rees LLP has recruited attorney Ronald Hatcher, Jr. as a partner in the firm’s real estate practice. Formerly the general counsel for an Arizona based real estate group, Mr. Hatcher brings significant experience to the firm.
Tags: Gordon Rees Scully Mansukhani, LLP | PhoenixMayer Brown JSM Advises China State Construction on HK$2.2 Billion Share Sale
Mayer Brown JSM advised Hong Kong-listed China State Construction International Holdings Limited (CSCI) on its top-up placement of 300 million shares to independent third parties at approximately HK$7.57 per share, raising approximately HK$2.2 billion.
Tags: Mayer Brown LLP | Hong KongCovington Wins Major Victory for Spanish Funds in Claim Against Russia over Nationaliztion of Yukos Oil
An international tribunal ordered the Russian government to compensate a group of Spanish investors for the losses they suffered when Russia seized the Yukos Oil Company, one of the largest oil and gas companies in the world.
Tags: Covington & Burling LLPWhite & Case Obtains Significant Trial Victory for Pfizer
Global law firm White & Case LLP achieved a significant trial victory for Pfizer Inc. in a patent infringement case against seven generic drug companies regarding three patents covering the active ingredient in Pfizer’s blockbuster drug Lyrica® and its therapeutic uses.
Tags: White & Case LLP | New YorkShearman & Sterling Advises Ardagh on Anchor Glass Acquisition and Financing
Shearman & Sterling is representing the Ardagh Group in its acquisition of Anchor Glass Container Company from private investment funds managed by Wayzata Investment Partners LLC in a transaction involving total cash consideration of US $880 million (€721 million). The transaction is subject to US regulatory approval and other customary closing conditions.
Tags: Shearman & Sterling LLP | New YorkShearman & Sterling Advises Thomson Reuters in Acquisition of MarkMonitor
Shearman & Sterling is representing the Intellectual Property & Science business of long-standing client Thomson Reuters in its acquisition of MarkMonitor. The completion of the acquisition is subject to standard regulatory approvals. The terms of the transaction were not disclosed.
Tags: Shearman & Sterling LLP | New YorkCravath – Arrangement of Financing for Acquisition of Certain Businesses of United Technologies Corporation
On July 25, 2012, United Technologies Corporation entered into a definitive agreement pursuant to which affiliates of the Carlyle Group LP and BC Partners Ltd will acquire certain industrial businesses of its Hamilton Sundstrand subsidiary for approximately $3.5 billion. Cravath represented Credit Suisse as joint lead arranger of committed financing in connection with this transaction.
Tags: Cravath, Swaine & Moore LLP | New York