Davis Polk Advises Comcast on Its Acquisition of General Electric’s Common Equity Stake in NBCUniversal

Davis Polk is advising Comcast Corporation on its $16.7 billion acquisition of General Electric Company’s 49% common equity stake in the NBCUniversal Media, LLC joint venture. NBCUniversal will also purchase from GE the properties used by NBCUniversal at 30 Rockefeller Plaza and CNBC’s headquarters in Englewood Cliffs, New Jersey for approximately $1.4 billion. The transaction is subject to customary closing conditions and is expected to close by the end of the first quarter of this year.

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Tags:  Davis Polk & Wardwell LLP | New York

Stephenson Harwood Appoints New Partner to the Paris Office

International law firm Stephenson Harwood has boosted its Paris office with the hire of new partner, Olivier de Chazeaux. Olivier joins Stephenson Harwood from Nixon Peabody where he headed the Public Law and Regulatory department. His arrival boosts Stephenson Harwood’s’ current corporate and regulatory offering in Paris and also increases the firm’s litigation and arbitration capability.

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Tags:  Stephenson Harwood

Arnold & Porter Legal Team Guides PMI Mortgage Insurance Co. in Major Company and Asset Sale

Arnold & Porter LLP client PMI Mortgage Insurance Co. (in receivership) recently entered into definitive agreements with Arch Capital Group Ltd. for its U.S.-based subsidiaries, Arch U.S. MI, to acquire CMG Mortgage Insurance Company from PMI and CMFG Life Insurance Company. The agreements also involve the acquisition of PMI’s mortgage insurance information technology operating platform and related assets from PMI. The value of the consideration for these transactions are estimated to be approximately $300 million. Arch U.S. MI will also enter into a services agreement with PMI to provide for necessary services to administer the run-off of PMI’s legacy business at the direction of PMI. An affiliate of Arch U.S. MI will reinsure the run-off of in-force insurance on current, non-delinquent loans included in the primary mortgage insurance originated by PMI for book years 2009-2011.

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Tags:  Arnold & Porter Kaye Scholer LLP | San Francisco

Cahill Represents Initial Purchasers in $650 Million Notes Offering by Atlas Pipeline Partners

Cahill represented BofA Merrill Lynch, Wells Fargo Securities, Deutsche Bank Securities, Citigroup, and J.P. Morgan, as joint book-running managers, and the co-managers in connection with the Rule 144A offering of $650,000,000 aggregate principal amount of $5-7/8% Senior Notes due 2023 by Atlas Pipeline Partners, L.P.

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Tags:  Cahill Gordon & Reindel LLP | New York

Cahill Represents Initial Purchasers in $220 Million Notes Offering by Universal Hospital Services

Cahill represented Barclays, BofA Merrill Lynch and RBC Capital Markets as joint book-running managers and Wells Fargo Securities and PNC Capital Markets LLC as co-managers in connection with the Rule 144A offering of $220,000,000 aggregate principal amount of 7.625% Second Lien Senior Secured Notes due 2020 by Universal Hospital Services, Inc.

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Tags:  Cahill Gordon & Reindel LLP | New York