Dechert’s global M&A team of lawyers have been very busy – closing out the summer in hot fashion with deals throughout the United States, Asia, and Europe in a wide range of industry sectors. Examples of some of the high profile transactions over the past few weeks that were handled by Dechert lawyers across our global network of offices include:
United States
1) A team of Dechert lawyers in Washington DC, led by Thomas Vartanian, represented financial advisor Belstar Group in the $730 million transaction by Sterling Financial Corporation, the bank holding company of Sterling Savings Bank, which raised new capital from institutional, private equity and other accredited investors. The amount of capital raised exceeds the amount required under Sterling’s agreements with its regulators and restores both Sterling’s and Sterling Savings Bank’s regulatory ratios to levels that exceed well-capitalized thresholds under applicable guidelines.
2) A team led by Dechert’s Carmen Romano represented Select Medical Holdings Corporation, the parent of Select Medical Corporation, in the completion of its $210 million acquisition of Regency Hospital Company, L.L.C., an operator of long-term acute care hospitals, from Waud Capital Partners.
3) A team of Dechert lawyers in Philadelphia, led by Gerrie Sinatra, represented private equity firm Court Square Capital Partners in its announced acquisition of Fibertech Networks, a leading regional provider of fiber optic bandwidth services.
4) William Lawlor led a team of US and Hong Kong-based attorneys that assisted Crown Holdings, Inc. in its acquisition from affiliates of Swire Pacific Limited their 44.57% interest in the holding company for Crown?s four joint venture facilities in China and their 49% interest in the holding company for Crown?s joint venture facility in Hanoi, Vietnam for an aggregate purchase price of $150 million. Basil Hwang, managing partner of the firm’s Hong Kong office led the Asia team on this deal.
Russia
A team of Dechert lawyers led by Laura Brank, Moscow office Managing Partner and Head of Dechert’s Russia Practice, represented Canada’s Kinross Gold Corporation in the completion of its previously announced US$368 million acquisition of companies owning the rights to the high-grade Dvoinoye deposit and the Vodorazdelnaya exploration and mining licences. Both assets are located approximately 100 km north of Kinross’ Kupol operation in the Chukotka region of the Russian Far East.
Munich
A team of Dechert lawyers led by Munich-based partner Federico Pappalardo advised Axentum Capital AG, a Swiss private equity fund, in connection with its acquisition of the global (ex-North America) businesses of Böwe Systec AG, a German multinational corporation that had filed for bankruptcy protection in Germany.
Brussels
A team of Dechert lawyers led by Brussels-based Eric Deltour are representing The Eastbridge Group in its acquisition of a 25% shareholding stake in the Belgian-listed real estate company, Immobel SA, through the purchase of over a million shares from JER Europe Fund III Holdings Sarl.
London
An international Dechert team led by David Schulman, who is both London and Washington DC based, represented Santhera Pharmaceuticals in connection with its license agreement with Ipsen for the development and commercialization of fipamezole (antagonist of the adrenergic alpha-2 receptor) for territories outside of North America and Japan.
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