GreenSky Inc., a private equity-backed financial technology company that arranges loans between merchants and consumers, raised $874 million in an upsized initial public offering that priced Thursday at the top of its range, advised by Troutman Sanders LLP.
Ibeto Cement Co. Ltd., a Nigerian cement company run by billionaire Dr. Cletus M. Ibeto, announced on Thursday that it has received $850 million worth of financing from private equity firm Milost Global Inc. and is setting in motion plans to become a publicly traded company in the U.S.
Private equity firm LNK Partners, with assistance from legal adviser Kirkland & Ellis LLP, has agreed to inject $100 million into Schweiger Dermatology Group to help the dermatology practice expand throughout the Northeast, according to a Thursday statement.
The company that makes Necco Wafers has a new owner, according to an order in Massachusetts federal court Wednesday showing that Spangler Candy Co., the maker of Dum Dums lollipops, shelled out $18.8 million to buy its fellow candy maker out of bankruptcy.
Fried Frank Harris Shriver & Jacobson LLP will bolster its corporate practice with a former U.S. Securities and Exchange Commission senior counsel who once worked at the firm as an associate, the firm announced Tuesday.
Evo Payments Inc. raised $224 million after pricing its shares at the top end of a projected $14 to $16 range during the private equity-backed payment processor’s initial public offering of 14 million shares on the Nasdaq Stock Exchange Wednesday.
Stinson Leonard Street LLP will enter the Texas market June 1 through a merger with Dallas litigation boutique Lackey Hershman LLP, which represents clients in the private equity, health care, and banking and finance industries, among others, the firms announced Wednesday.
Crestline Hotels & Resorts LLC, which manages hotels for publicly traded real estate investment trusts, private equity investors and single-asset owners and foundations, has launched a $300 million fund that will acquire hotels and invest in properties alongside strategic capital partners, according to a Wednesday statement.
Dubai-based ride-hailing company Careem Networks is looking to raise $500 million, Pershing Square Capital Management has secured a nearly $1 billion stake in home improvement chain Lowe’s, and Barclays isn’t eyeing any potential mergers with its rivals.
HgCapital Trust PLC and Intermediate Capital Group announced Wednesday that they are partnering to make a significant investment in IRIS Software Group, which provides software and services to the U.K. accountancy, education and business markets, in a deal the companies say represents the largest U.K. private equity software buyout in history.
McDermott Will & Emery LLP has landed an attorney for its New York office from Latham & Watkins LLP who has experience in private equity fund formation matters in the energy industry and others, the firm announced recently.
Bankrupt candy manufacturer Necco is set to sell its line of sweets and other assets to one of four qualified bidders at a Chapter 11 auction scheduled to take place Wednesday in Boston, all but ensuring the estate nets at least $15 million from the deal.
Covington & Burling LLP has hired a pair of partners from Kirkland & Ellis LLP experienced in handling mergers and acquisitions, leveraged buyouts and other transactions in industries including life sciences, media, technology, automotive, defense and hospitality to head up the firm’s private equity practice in New York, the firm said Tuesday.
Fraudulent transfer claims against the former controlling shareholders of Physiotherapy Holdings Inc. will be reinstated after a Delaware bankruptcy judge granted a motion for reconsideration Monday from the litigation trust created under the former debtor’s Chapter 11 plan.
The U.S. House of Representatives on Tuesday passed a major rollback of Dodd-Frank rules, sending a package of financial industry changes that backers say cut costly and burdensome regulations to President Donald Trump, who has indicated his support for the measure.
Banking giant Emirates NBD has inked a $3.1 billion deal to buy an almost complete stake in Turkish private bank DenizBank AS held by state-owned Sberbank of Russia, the banks said Tuesday.
Australian oil and gas company Santos Ltd. on Tuesday rejected a $10.8 billion takeover bid by private equity-owned Harbour Energy Ltd. and shut down any further discussions of a tie-up with the Houston-based firm, saying Santos is better off pursuing its existing strategy.
Multiple Chinese companies have interest in buying U.S. electronics distributor Ingram Micro, activist investor Elliott Management has been amassing a stake in Germany’s Thyssenkrupp with plans to oust the company’s current CEO, and Fortress Investment Group hopes to raise about $2 billion for its first direct lending fund.
Kirkland & Ellis LLP said it has hired a Morrison & Foerster LLP partner who served as co-chairman of its private equity fund group and helped launch multiple multibillion-dollar investment funds.
Wedding service marketplace WeddingWire Inc. said Tuesday a company backed by funds of global private equity firm Permira will pay $350 million to take a controlling stake in the business, with Wilson Sonsini Goodrich & Rosati PC guiding the seller.
In order to enable lawyers to best meet cybersecurity challenges, state bars should pass rules that adopt a cybersecurity framework to be developed by a national committee, says Shaun Jamison, associate dean of faculty and professor at Purdue University's Concord Law School.
Last week's omnibus spending legislation includes a provision that relaxes leverage and offering restrictions that many business development companies have been seeking over the last several years. Although the amendments are not automatically effective, BDCs and their sponsors should start considering a number of issues in the near term, say Nicole Runyan and Monica Shilling of Proskauer Rose LLP.
As the quantity and quality of corporate social responsibility disclosure increases, there is also movement toward greater comparability. Larger companies should benchmark their disclosures against global peers and evolving global standards, since over time, enhancements in foreign disclosure practices are likely to drive disclosures by many U.S. companies, say attorneys with Ropes & Gray LLP.
Without an amendment to what is widely believed to be a drafting error in the Tax Cuts and Jobs Act, there may be a strong argument that the new regulations implementing IRC Section 1061 are invalid. Taxpayers evaluating whether to hold carried interests through an S corporation need to assess whether the potential benefit justifies the time and expense of countering an IRS challenge, say Elizabeth McGinley and Steven Lorch of Bracewell LLP.
To many young attorneys, becoming an equity partner shows a firm's long-term commitment, meaning job security and a voice in important firm matters. However, the industry has changed and nowadays it may not be better to enter a new firm as an equity partner, says Jeffrey Liebster of Major Lindsey & Africa.
Increasingly, corporate social responsibility must be on the radar screen of in-house counsel. Investors are paying more attention to environmental, social and governance issues, and a growing number of shareholder proposals on these subjects should be expected, say attorneys with Ropes & Gray LLP.
In his new book, "Without Precedent: Chief Justice John Marshall and His Times," professor Joel Richard Paul ably explains more than a dozen of Marshall’s most significant opinions, which comes as no surprise. What is a surprise — a pleasant one — is the book's readability, says Judge Thomas Hardiman of the Third Circuit.
The Delaware Chancery Court's opinion in LSVC v. Vestcom serves as a reminder of the potential high-value impact of pre- and post-closing tax provisions in private M&A, as well as their interaction with purchase price adjustment provisions, say attorneys with Paul Weiss Rifkind Wharton & Garrison LLP.
2018 may be the year that corporate social responsibility compliance becomes a core duty of in-house legal departments. Not only have legal requirements proliferated in recent years, but new disclosure requirements and more regulation are on the horizon, say attorneys with Ropes & Gray LLP.
For law firms structured as corporations, a lower maximum corporate tax rate and repeal of the corporate alternative minimum tax are good news. But many law firms are pass-through entities, so deduction limitations mean they'll see less benefit from the new tax law, says Evan Morgan of CPA and advisory firm Kaufman Rossin PA.