Oaktree to Acquire Interest in Hess Energy Trading Company

CorporateFinanceMergers & AcquisitionsEmployee BenefitsTax

Hess Energy Trading Company LLC (HETCO), a leading global marketer and trader of energy commodities, announced that funds managed by Paul, Weiss client Oaktree Capital Management L.P. will acquire an interest in the firm held by Hess Corporation. HETCO, which will be renamed, is led by founding partners Stephen Hendel and Stephen Semlitz and partner Guy Merison, all of whom will remain in their current positions. Following the close of the transaction, Oaktree will be the only outside investor in HETCO.

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Michele Hirshman Honored at 2014 Citizens Union Awards Dinner

LitigationMichele  Hirshman

Litigation partner Michele Hirshman was awarded the Civic Leadership Award at the 2014 Citizens Union Awards Dinner. The Citizens Union of the City of New York, a nonpartisan good government group, recognized Michele for her contribution to New York City's civic life through her twenty years of service in state and federal government, her representation at Paul, Weiss of major institutions and business leaders who contribute to New York City's economic well-being and her commitment to making legal services available to a broad range of New Yorkers as a member of the boards of the Legal Aid Society and the City Bar Justice Center and pro bono representations.

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Janus Capital Announces Agreement to Acquire VelocityShares

Mergers & AcquisitionsCorporateEmployee BenefitsTaxIP Transactions

As reported in The Wall Street Journal, Bloomberg and other media outlets, Paul, Weiss client Janus Capital Group Inc. announced it has entered into a definitive agreement to acquire VS Holdings Inc., the parent company of VelocityShares, LLC, a leading provider of unique institutionally focused exchange-traded products, including exchange-traded funds, that deliver sophisticated volatility management solutions.

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Lundin Mining Announces $1.8 Billion Acquisition of Chilean Copper Assets From Freeport-McMoRan

CorporateCapital Markets & SecuritiesTaxEmployee BenefitsEnvironmentalBankruptcy

Paul, Weiss client Lundin Mining Corporation, a Canadian base metals mining company, announced a definitive agreement with Freeport-McMoRan Inc. to purchase an 80 percent ownership stake in the Candelaria and Ojos del Salado copper mining operations for cash consideration of $1.8 billion and contingent consideration of $200 million.

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Paul, Weiss Represents Guggenheim Securities in Whole-Business Securitization

CorporateFinanceIP TransactionsCapital Markets & SecuritiesERISA, Pension & Benefits LitigationTaxBankruptcyReal Estate

Paul, Weiss represented Guggenheim Securities as initial purchaser in connection with DineEquity, Inc.'s $1.3 billion whole-business securitization of its Applebee's and IHOP restaurant chains (closed September 30, 2014). Applebee's Funding, LLC and IHOP Funding, LLC issued securitization notes (due September 2044 and rated BBB by Standard & Poor's Rating Services), which, among other things, enabled the company to refinance its existing debt.

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UBM to Acquire Advanstar for $972 Million

Mergers & AcquisitionsCorporateTaxEmployee BenefitsReal EstateEnvironmental

As reported in The Wall Street Journal, The New York Times and other media outlets, UBM plc announced that it has entered into a definitive agreement to acquire Paul, Weiss client Advanstar Communications for $972 million in cash. UBM is a U.K.-headquartered communications and events business. Advanstar operates 54 trade shows and over 100 conferences annually, including Magic Marketplace, the largest U.S. fashion trade show.

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Encana to Acquire Athlon

Mergers & AcquisitionsCorporateTaxEmployee BenefitsEnvironmentalReal Estate

As reported in The New York Times, The Wall Street Journal and other media outlets, Paul, Weiss client Encana Corporation announced that it has entered into a definitive agreement to acquire all of the issued and outstanding shares of common stock of Texas-based Athlon Energy Inc. by means of an all-cash tender offer for $5.93 billion, as well as Encana assuming Athlon's $1.15 billion of senior notes, for a total value of approximately $7.1 billion.

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SAP to Acquire Concur Technologies

Mergers & AcquisitionsCorporateLitigation

As reported in The Wall Street Journal and other media outlets, Paul, Weiss client SAP SE announced that subsidiary SAP America, Inc. has entered into an agreement to acquire Concur Technologies, a leading provider of travel and expense management software, for a purchase price of $8.3 billion.

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China Law & Practice Names Paul, Weiss “International Telecommunications, Media & Technology Firm of the Year”

CorporateCommunications & TechnologyMergers & AcquisitionsXiaoyu Greg  Liu

China Law & Practice awarded Paul, Weiss "International Telecommunications, Media & Technology Firm of the Year" at the China Law & Practice Awards 2014. Corporate partner, Greg Liu and associate Abra Murray received the award.

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Ericsson to Acquire Apcera

Mergers & AcquisitionsCorporateEmployee BenefitsIP TransactionsTax

Paul, Weiss client Ericsson Inc. announced that it has agreed to acquire Apcera Inc., a San Francisco-based enterprise services company and creator of the next-generation platform-as-a-service Continuum, which works across hybrid cloud and traditional environments. The acquisition is expected to close in the fourth quarter of 2014 and will strengthen Ericsson's position in the cloud market by extending its network approach to operator and enterprise cloud.

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