Simpson Thacher represented Mercantil Colpatria, Anchor Fund and Linzor Capital Partners in connection with the sale to The Bank of Nova Scotia of 51% of the shares of Colfondos AFP. After completion of the transaction, Mercantil Colpatria will retain 49% ownership in the firm and Anchor Fund and Linzor Capital Partners will sell their entire minority stakes in Colfondos AFP. The transaction is subject to regulatory approval.
Tags: Simpson Thacher & Bartlett LLP | New YorkSimpson Thacher recently represented Energy Future Intermediate Holding Company LLC (“EFIH”) and EFIH Finance Inc., direct, wholly-owned subsidiaries of Energy Future Holdings Corp. (“EFH Corp.”), formerly known as TXU Corp., in their issuance and sale of $250,000,000 aggregate principal amount of 6.875% Senior Secured Notes due 2017 and $600,000,000 aggregate principal amount of 11.750% Senior Secured Second Lien Notes due 2022. The issuers intend to dividend a portion of the net proceeds from the offering to EFH Corp., and EFH Corp. intends to use the funds it receives from EFIH to repay a portion of certain inter-company demand notes. The issuers intend to use the remaining net proceeds for general corporate purposes.
Tags: Simpson Thacher & Bartlett LLP | New York
Justin S. Daniels has joined the Atlanta office of Baker, Donelson, Bearman, Caldwell & Berkowitz, PC.
Tags: Baker, Donelson, Bearman, Caldwell & Berkowitz, PC
Davis Polk is advising Getty Investments in connection with the $3.3 billion acquisition of Getty Images, Inc. Getty Images co-founder and chairman Mark Getty and the Getty family will roll substantially all of their 30% ownership interests into the transaction, and increase their ownership stake going forward, while Hellman & Friedman LLC will sell its controlling interest to The Carlyle Group. The transaction is subject to customary regulatory approvals and is expected to close before year-end 2012.
Tags: Davis Polk & Wardwell LLPDavis Polk advised Bank of America, N.A. as administrative agent in connection with a $500 million 364-day revolving credit facility for Ecolab Inc. The 364-day facility refinances Ecolab’s existing 364-day facility and will be used for general corporate purposes and to backstop commercial paper.
Tags: Davis Polk & Wardwell LLP | New YorkDavis Polk advised Jefferies & Company, Inc., Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Deutsche Bank Securities Inc. as joint book-running managers in connection with the $233 million initial public offering of 16,666,667 Class A ordinary shares of Manchester United plc. Of these shares, Manchester United offered 8,333,334 shares and the selling shareholder offered 8,333,333 shares. The Class A ordinary shares are listed on the New York Stock Exchange under the symbol “MANU.”
Tags: Davis Polk & Wardwell LLP | New York
Skadden is acting on the proposed US$3.5 billion going-private transaction for Focus Media Holding Ltd., a leading media company that operates China’s largest lifestyle targeted interactive digital media network. Skadden is representing Mr. Jason Nanchun Jiang, Chairman of the Board and Chief Executive Officer of Focus Media, and his affiliates. Mr. Jiang is acting as part of a consortium, also comprising The Carlyle Group, CITIC Capital Partners, CDH Investments, China Everbright Limited and FountainVest Partners, on the proposed acquisition. This transaction would be the largest ever delisting of a New York-listed Chinese company.
Tags: Skadden, Arps, Slate, Meagher & Flom LLP | BeijingThe international law firm of Andrews Kurth LLP is pleased to announce the addition of corporate and transactional attorney Roger Griesmeyer as a Partner in the firm’s New York office.
Tags: | New York
A team of Akin Gump Strauss Hauer & Feld LLP attorneys has been retained by Roth Capital Partners LLC, as financial adviser to the independent committee of Yucheng Technologies (Nasdaq: YETC), in relation to its proposed merger agreement with New Sihitech Limited, a British Virgin Islands company wholly owned by Mr. Weidong Hong, Yucheng Technologies’ chairman and CEO, and New Sihitech Acquisition Limited, a British Virgin Islands company wholly owned by New Sihitech Limited.
Tags: Akin Gump Strauss Hauer & Feld LLP | Hong Kong
International law firm Reed Smith today announced the appointment of Ivan Chiang to its partnership. Based in Shanghai, Ivan joins the firm’s corporate and securities group from K&L Gates.
Tags: Reed Smith LLP | Shanghai