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ProfessionalsSohail Itani

Sohail Itani
Counsel

Tel: +1-212-373-3582
Fax: +1-212-492-0582
sitani@paulweiss.com

+1-212-373-3582
New York

1285 Avenue of the Americas
New York, NY 10019-6064
Fax: +1-212-492-0582

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  • Practices
  • Tax
Education 
Bar Admissions 
Education 
Bar Admissions 

A counsel in the Tax Department, Sohail advises clients on a variety of tax matters in connection with domestic and international transactions across multiple industries. Sohail provides tax counsel to investment funds and their portfolio companies, as well as strategic clients, in the structuring and negotiation of taxable and tax-free mergers & acquisitions (both public and private deals), spin-offs, divestitures, partnerships and joint ventures, debt restructurings, preferred equity investments and financing transactions. Additionally, Sohail advises asset managers on tax and structuring matters relating to the formation and operation of investment funds (including private equity and credit funds), as well as family offices in connection with the structuring and acquisition of their investments. Sohail also has extensive experience in tax matters related to the formation of SPACs and SPAC business combinations. Sohail is recognized as a “Rising Star” by Super Lawyers.

EXPERIENCE

Sohail’s recent M&A experience includes advising:

  • Apollo Global Management and affiliated funds in numerous high-profile transactions, including:
    • along with its portfolio company McGraw Hill in the $4.5 billion sale of the company to Platinum Equity
    • in the $6.25 billion acquisition of The Venetian Resort and Sands Expo and Convention Center from Las Vegas Sands Corporation
    • in their $7.5 billion acquisition of the incumbent local exchange carrier business of Lumen Technologies
    • in the acquisition financing in connection with its $6 billion acquisition of Tech Data
    • in their commitment to invest up to $470 million in U.S. Acute Care Solutions (USACS), a national leader in physician-owned emergency medicine, hospitalist and observation services
    • the sale of Endemol Shine Group, which was co-owned by The Walt Disney Company and funds managed by affiliates of Apollo, to France-based Banijay Group
    • the acquisition of internet photo products pioneers Shutterfly, Inc., Snapfish, LLC, with the Shutterfly transaction valued at $2.7 billion and Shutterfly in its $225 million acquisition of Spoonflower, a global marketplace offering custom, print-on-demand fabric, wallpaper and home decor designed by global independent artists
  • Baker Hughes in its joint venture with Akastor ASA to form a joint venture company that will combine Baker Hughes’ Subsea Drilling Systems (SDS) business with Akastor’s wholly owned subsidiary, MHWirth AS
  • Berkshire Partners in its acquisition of a majority stake in Harvey Performance Company from Summit Partners
  • Global Infrastructure Partners in its $15 billion acquisition (together with KKR) of CyrusOne
  • International Business Machines Corp. in its $34 billion acquisition of Red Hat Inc., creating the world’s largest hybrid cloud provider
  • Nuance Communications in the announced spin-off of its automotive software business

Sohail’s fund formation and investment management experience includes advising:

  • Apollo Global Management and affiliated funds in numerous high-profile transactions, including in the formation of:
    • Apollo Accord strategy, a series of dislocation credit funds totaling over $5 billion
    • Apollo Hybrid Value Fund II, a credit and equity fund totaling $4.6 billion

Sohail’s SPAC experience includes advising:

  • Algoma Steel, Inc. in its combination with Legato Merger Corp.
  • Pine Technology Acquisition Corp. in its proposed merger with The Tomorrow Companies Inc. to form a publicly traded company with a pro-forma equity value of $1.2 billion
  • SVF Investment Corp. 3 in its merger with Symbotic LLC to form a publicly traded company with a pro-forma equity value of $5.5 billion

Sohail’s restructuring experience includes advising:

  • An ad hoc group of holders of securities issued by Exide Technologies, a manufacturer of automotive and industrial batteries, in a “credit bid” asset sale of the company’s international operations in more than 80 countries as part of the company’s chapter 11 liquidation. The chapter 11 process also involved a mediated settlement of the company’s environmental obligations with dozens of federal, state and local environmental agencies

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