Court of Appeal Affirms Summary Judgment Ruling for Citigroup

Litigation

The Florida Fifth District Court of Appeal affirmed Paul, Weiss client Citigroup's win of summary judgment on all of the claims asserted in Sungate Securities LLLP, et al. v. Citigroup Inc. The plaintiffs were investors in a feeder fund sponsored by Citigroup Alternative Investments that, in turn, invested in a fund managed by private equity manager Terra Firma.

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Oak Hill Capital Partners to Acquire Berlin Packaging for $1.43 Billion

Mergers & AcquisitionsCorporateEmployee BenefitsTax

Paul, Weiss client Oak Hill Capital Partners announced that it has entered into a definitive agreement to acquire Berlin Packaging LLC, a leading supplier of rigid packaging products and services in North America, from Investcorp, in a transaction valued at $1.43 billion. Completion of the transaction, which is expected to close in the third quarter, is subject to customary closing conditions.

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Star Bulk to Acquire Excel Maritime Fleet

CorporateTaxEmployee Benefits

Star Bulk Carriers Corp. announced that it has entered into definitive agreements with Paul, Weiss client Excel Maritime Carriers Ltd. to acquire 34 operating vessels for aggregate consideration of $634.91 million, comprised of 29.917 million shares of Star Bulk common stock and $288.39 million in cash. Upon completion of the transaction, Star Bulk's position as the largest U.S. listed dry bulk company will be further enhanced, with a fleet of 103 vessels on a fully delivered basis.

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KPS to Sell Waupaca Foundry to Hitachi Metals for $1.3 Billion

Mergers & AcquisitionsCorporateTaxReal EstateEmployee BenefitsEnvironmentalIP Transactions

Paul, Weiss client KPS Capital Partners, LP announced that it has signed a definitive agreement, through an affiliate, to sell portfolio company Waupaca Foundry, Inc. to Hitachi Metals, Ltd. for $1.3 billion in cash. Completion of the transaction, which is expected to close during the fourth quarter, is subject to customary closing conditions.

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NorthStar Realty to Acquire Griffin-American in $4 Billion Transaction

CorporateMergers & AcquisitionsReal EstateTax

Paul, Weiss client NorthStar Realty Finance Corp. and Griffin-American Healthcare REIT II, Inc. announced that the boards of directors of both companies have unanimously approved a definitive merger agreement under which NorthStar Realty will acquire all of the outstanding shares of Griffin-American in a stock and cash transaction valued at $4 billion, including approximately $600 million of debt, establishing NorthStar Realty as a leading investor in the healthcare real estate sector.

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International Strategy & Investment To Be Acquired by Evercore

CorporateMergers & AcquisitionsTaxEmployee Benefits

As reported in The New York Times "Dealbook," Bloomberg and other media outlets, Evercore announced that it has entered into an agreement to acquire the operating business of Paul, Weiss client International Strategy & Investment, a leading independent research-driven equity sales and agency trading firm. Evercore will also acquire the approximately 40 percent interest in its Institutional Equities business not currently owned by the company.

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Oak Hill to Sell ViaWest to Shaw Communications

CorporateMergers & AcquisitionsEmployee BenefitsEnvironmentalIP TransactionsReal EstateTax

Oak Hill Capital Partners and other shareholders have entered in to a definitive agreement to sell Oak Hill portfolio company and Paul, Weiss client ViaWest, Inc., to Shaw Communications Inc., one of the largest Canadian telecommunications and media businesses, for an enterprise value of $1.2 billion.

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Preferred Sands Closes on Comprehensive Restructuring Transaction

CorporateBankruptcyTaxEnvironmental

Paul, Weiss client Preferred Sands, one of North America's largest producers of sand and resin coated proppants, closed on a comprehensive restructuring. KKR, a leading global investment firm, provided $680 million of debt and equity to fully refinance Preferred Sands' outstanding debt. KKR funded the debt through a term loan, ABL and Notes.

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Fifth Circuit Ruling Keeps Last Abortion Clinic in Mississippi Open

LitigationPro Bono

As reported in The New York Times and other media outlets, on July 29, the United States Court of Appeals for the Fifth Circuit issued a landmark decision and affirmed a preliminary injunction issued by the District Court for the Southern District of Mississippi enjoining a Mississippi requirement that all doctors who are associated with an abortion facility in Mississippi to have admitting privileges at a local hospital.

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